Global Flavored Spirits Market Research Report - Forecast till 2026

Posted by Sonika on February 11th, 2021

Bharat Book Bureau Provides the Trending Market Research Report on “Global Flavored Spirits Market Research Report - Forecast till 2026 ”under Food & Beverage Category. The report offers a collection of superior market research, market analysis, competitive intelligence and Market reports.

The Global Flavored Spirits Market is anticipated to exhibit a CAGR of 4.28% and surpass USD 32,768.7 Million during the review period. Flavored spirits are distilled beverages with specific flavors such as fruits, spices, herbs, or nuts. The foodservice sector is one of the largest end-users of flavored spirits due to the rising consumer preference towards sophisticated lifestyle. Additionally, the surge in the consumption of cocktails and mocktails at social events, corporate conferences, and concerts is expected to expand the global flavored spirit market. However, the adoption of growth strategies by major manufacturers is expected to create a path for market players to expand and grow.

Global Flavored Spirits Market is set to witness healthy growth during the review period owing to the continuous product innovation with flavor variant. The global market growth is attributed to the rising adoption of a new culture, awareness about global trends, eagerness to experiment with new food & beverage choices, and changing lifestyles. The accelerating foodservice industry is expected to impact positively on the global flavored spirits market. Furthermore, expansion of the organized retail sector, in developing economies is expected to fuel the market growth during the study. However, the growing demand for non-alcoholic beverages and the increasing focus of non-alcoholic beverage manufacturers on new product development are expected to restrain the growth of the market for flavored spirits in the future.
Market Segmentation
Global Flavored Spirits Market has been divided Based on Type and distribution channel. Based on type segment the global market has been classified into Whiskey, Rum, Vodka, Gin, and Others.
In terms of distribution channels, the global flavored spirits market has been classified into food retail, supermarket and hypermarket, and food service. The food retail segment is further classified into supermarkets & hypermarkets, specialty stores, and others.

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Regional Analysis
Geographically, the Global Flavoured Spirit Market has been classified into North America, Europe, Asia-Pacific, and the Rest of the World.
Europe is expected to contribute to the largest market with a 37.38% share of the market in 2019. The regional market is driven by the leading market of Germany. The regional market is expected to register a healthy CAGR of 4.06% during the review period.
The regional market growth is attributed to the presence of some of the key global manufacturers of flavored spirits and organized retail infrastructure. Further, the key players in the region are making a series of new product developments, partnerships, mergers, and acquisitions to gain the significant revenue of flavored spirits in the region.
Major Players
The Key Players in the Global Flavored Spirits Market are Bacardi Limited (Bermuda), The Brown-Forman Corporation (France), Pernod Ricard (France), Diageo PLC (UK), Suntory Beverage & Food Limited (Japan), Constellation Brands, Inc. (US), Distell Group Limited (South Africa), William Grant & Sons (Scotland), Asahi Group Holdings, Ltd (Japan), and San Miguel Corporation (Philippines).
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