Cibi e Bevande
Premium Spirit Market Size Worth $235.74 Billion By 2027 | CAGR: 10.3%: Grand View Research, Inc.
https://www.grandviewresearch.com/industry-analysis/premium-spirit-market
Vodka dominated the market with more than 25.0% share in 2019 in terms of revenue. Authentic and flavored vodkas have gained traction among the consumers owing to the growing cocktail culture. For instance, in October 2018 , CÎROC, a vodka brand of Diageo, launched its CÎROC Black Raspberry. This vodka is made with grapes with a unique blend of black raspberry, which offers a citrus flavor and a smooth finish. Introducing innovative flavors is a strength of the CÎROC brand.
The tequila segment is expected to witness the fastest growth over the forecast period. With the improving quality, consumers' interest in tequila has been rising, along with its price. The 100% blue agave tequila category has been gaining traction among the consumers and boosting the segment growth. In September 2019 , Cincoro Tequila launched one of the finest quality tequilas made with 100% Weber Blue Agave.
As of 2019, Asia Pacific held the largest volume share of more than 40.0%. The growth of the market is majorly attributed to the growing middle-class population and the increasing adoption of alcoholic beverages in the emerging economies of the region. China , India , Australia , and South Korea are key markets of the region where the products have been gaining popularity over the years.
Alcohol & Tobacco Industry,
Grand View Compass
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