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Global Craft Vodka Market to reach USD XX billion by the end of 2029

Global Craft Vodka Market Size study & Forecast, by type (flavored craft vodka and unflavored craft vodka); by distribution channel (On-trade channels and Off-trade channels) and Regional Analysis, 2022-2029

Product Code: OIRFB-24303656
Publish Date: 10-04-2023
Page: 200

The global Craft Vodka Market is valued at approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX % over the forecast period 2022-2029. Craft Vodka are made in breweries in small batches which requires extra attention to the quality of ingredients during the procedure. It has a distinctive taste as compared to the regular vodka. These are getting more popular owing to their unique taste. The Craft Vodka market is expanding because of factors such as the rising demand for alcoholic drinks and changing lifestyle with growing disposable income.

According to the Statista in 2021, the alcoholic drinks market amounts to attain revenue of around USD 1,688.0 billion. Also, it is projected to grow annually with 8.20%. Additionally in India the alcoholic consumption in 2020 was around five billion liters which is estimated to reach around 6.21 billion liters by 2024. Whereas the rising number of product launches and growing number of distilleries across the globe create lucrative opportunities for the market. However, stringent government regulations hamper the market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Craft Vodka Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the market in terms of revenue, owing to the increasing demand for craft spirits, and the rising number of distilleries. Also, North America is expected to grow significantly during the forecast period, owing to factors such as increasing demand for ethnic premium, super premium vodkas and flavored vodkas.

Major market players included in this report are:
Sazerac Company
Beam Suntory Inc.
William Grant & Sons Limited
Fifth Generation, Inc.- Tito’s Handmade Vodka
Diageo plc-The Smirnoff Co.
Heaven Hill Brands
St. George Spirits
Hanson Spirits LLC
Charbay Distillery
Woody Creek Distillers

Recent Developments in the Market:
 In April 2019, Hanson of Sonoma, an all organic grape based vodka distillery launched a new Meyer Lemon infused vodka . Also, Hanson has opened a new tasting room in Sausalito. It offers handcrafted cocktails made woth Hanson of Sonoma vodka offering in various flavors such as ginger , cucumber and so on
Global Craft Vodka Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Type, Distribution Channel Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
Flavored Craft Vodka
Unflavored Craft Vodka

By Distribution Channel:
On trade Channels
Off trade Channels

By Region:
North America
Asia Pacific
South Korea
Latin America
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
1.2.1. Craft Vodka Market, by Region, 2019-2029 (USD Billion)
1.2.2. Craft Vodka Market, by Type, 2019-2029 (USD Billion)
1.2.3. Craft Vodka Market, by Distribution Channel , 2019-2029 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Craft Vodka Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Craft Vodka Market Dynamics
3.1. Craft Vodka Market Impact Analysis (2019-2029)
3.1.1. Market Drivers Rising demand for Alcoholic drinks Changing lifestyle with growing disposable income
3.1.2. Market Challenges Stringent government regulations
3.1.3. Market Opportunities Rising number of product launches Growing number of distilleries across the globe
Chapter 4. Global Craft Vodka Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Investment Adoption Model
4.5. Analyst Recommendation & Conclusion
4.6. Top investment opportunity
4.7. Top winning strategies
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Craft Vodka Market, by Type
6.1. Market Snapshot
6.2. Global Craft Vodka Market by Type, Performance – Potential Analysis
6.3. Global Craft Vodka Market Estimates & Forecasts by Type 2019-2029 (USD Billion)
6.4. Craft Vodka Market, Sub Segment Analysis
6.4.1. Flavored Craft Vodka
6.4.2. Unflavored Craft Vodka
Chapter 7. Global Craft Vodka Market, by Distribution Channel
7.1. Market Snapshot
7.2. Global Craft Vodka Market by Distribution Channel, Performance – Potential Analysis
7.3. Global Craft Vodka Market Estimates & Forecasts by Distribution Channel 2019-2029 (USD Billion)
7.4. Craft Vodka Market, Sub Segment Analysis
7.4.1. On trade Channels
7.4.2. Off trade Channels
Chapter 8. Global Craft Vodka Market, Regional Analysis
8.1. Craft Vodka Market, Regional Market Snapshot
8.2. North America Craft Vodka Market
8.2.1. U.S. Craft Vodka Market Type breakdown estimates & forecasts, 2019-2029 Distribution Channel breakdown estimates & forecasts, 2019-2029
8.2.2. Canada Craft Vodka Market
8.3. Europe Craft Vodka Market Snapshot
8.3.1. U.K. Craft Vodka Market
8.3.2. Germany Craft Vodka Market
8.3.3. France Craft Vodka Market
8.3.4. Spain Craft Vodka Market
8.3.5. Italy Craft Vodka Market
8.3.6. Rest of Europe Craft Vodka Market
8.4. Asia-Pacific Craft Vodka Market Snapshot
8.4.1. China Craft Vodka Market
8.4.2. India Craft Vodka Market
8.4.3. Japan Craft Vodka Market
8.4.4. Australia Craft Vodka Market
8.4.5. South Korea Craft Vodka Market
8.4.6. Rest of Asia Pacific Craft Vodka Market
8.5. Latin America Craft Vodka Market Snapshot
8.5.1. Brazil Craft Vodka Market
8.5.2. Mexico Craft Vodka Market
8.6. Rest of The World Craft Vodka Market

Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. Sazerac Company Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.2.2. Beam Suntory Inc.
9.2.3. William Grant & Sons Limited
9.2.4. Fifth Generation, Inc.- Tito’s Handmade Vodka
9.2.5. Diageo plc-The Smirnoff Co.
9.2.6. Heaven Hill Brands
9.2.7. St. George Spirits
9.2.8. Hanson Spirits LLC
9.2.9. Charbay Distillery
9.2.10. Woody Creek Distillers
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
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Data Collection:
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To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
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To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
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