Vodka Industry Overview
The global vodka market size was valued at USD 35.9 billion in 2021 and is expected to expand at a CAGR of 5.5% from 2022 to 2028.
This can be credited to growing consumption of the premium version of the vodka cocktails from the developed economy such as the U.S. and Germany. The growing demand for flavored cranberry, lime, and raspberry vodka enhancing the sales of white spirits. Moreover, the growing trading of alcoholic beverages through offline trading is further anticipated to boost the market growth over forecast period. During the COVID-19 pandemic, consumer's drinking habits have changed significantly, shifting consumption from bars and restaurants to the home. For many, alcohol is part of their social life, which has been severely disrupted by COVID-19. According to preliminary government tax receipt data, alcohol sales in Germany, the UK and the US increased by 3% to 5% in 2020 compared to 2019. A slump in alcohol sales in bars and restaurants has severely impacted the industry, while online platforms have seen a notable increase in sales. For instance, according to data published by OECD, in the U.S., online sales grew by as much as 234%.
Gather more insights about the market drivers, restrains and growth of the Global Vodka Market
The growing acceptance of grain-based vodkas with a delicious fruity taste is the major factor driving the market growth. Moreover, the rising demand for natural and authentic flavor is anticipated to refuel the market growth. Furthermore, the influence of social media and blogging sites are other factors supporting the growth of the global vodka market. Consumers are now more engaged with social networks and blogs to educate themselves about the variety of flavored vodkas and cocktails. For instance, the Tito Vodka brand name is marketed as handcrafted vodka on the company's social media channel. Likewise, there are many blog posts on the internet that discuss vodka brands under different categories, such as flavored vodka and organic vodka. Hence, social media and blogging strategies are expected to be significant drivers for the global vodka market in the forecast period.
Rising demand to procure citrus cocktails products at a reasonable cost is the upcoming opportunity for the market. However, the transformation of the consumers to adopt non-alcoholic beverages are hindering the market growth. At present, key players are focusing to launch fruit-based vodka flavors with minimal content of the alcohol. Hence, the vodka market is expected to perform significant market growth during the review period.
Growing investment from major players to procure superior quality blueberry vodka products is propelling the market growth. The major key players are procuring the prime quality of crushed ruby red grapefruit cocktails. The rising demand to procure organic infusions of white spirits across the world is driving the industry's growth. In addition, premium brands are focusing on introducing flavored vodkas that are both delicious and crispy in taste and have become popular in a short period of time. and peach. Due to the different tasty flavors, the demand for such brands suddenly increased.
Brands such as Absolute, Smirnoff, and Russian Standards come in a variety of flavors such as coffee, chocolate, apple, and orange. The key players of the market are highly adopting internet retailing platforms to raise the sales of the vodka market. This kind of measure escalated the global opportunity of the product of the white spirit which in turn will boost the market growth.
Browse through Grand View Research's Alcohol & Tobacco Industry Research Reports.
- Ready To Drink Cocktails Market - The global ready to drink cocktails market size was valued at USD 782.8 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 13.4% from 2022 to 2030. The growing demand for flavored drinks with low alcohol content due to the rising health concerns is anticipated to drive the market over the forecast period.
- Alcoholic Drinks Market - The global alcoholic drinks market size was valued at USD 1,448.2 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 10.3% from 2022 to 2028. This can be credited to the growing consumption of premium beer from developed economies such as the U.S. and the U.K. The growing demand for beer, wine, and dark spirits is enhancing the sales of alcoholic beverages.
Vodka Market Segmentation
Grand View Research has segmented the vodka market on the basis of type, end-use, and distribution channel, and region.
Vodka Type Outlook (Revenue, USD Million; 2017 - 2028)
- Flavored
- Non-Flavored
Vodka Distribution Channel Outlook (Revenue, USD Million; 2017 - 2028)
- Offline Trading
- Online Trading
Vodka Regional Outlook (Revenue, USD Million; 2017 - 2028)
- North America
- Europe
- Asia Pacific
- Central & South America Brazil
- Middle East & Africa
Key Companies profiled:
Some prominent players in the global vodka market include
- Brown-Forman
- Diageo
- Pernod Ricard
- Belvedere
- Russian Standard, Bacardi
- Constellation Brands Inc.
- Proximo Spirits
- Distell Group,
- Savor Stoli
- IceBerg Vodka
Order a free sample PDF of the Vodka Market Intelligence Study, published by Grand View Research.
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