High Consumption of Alcohol to Augment Growth of the Global Distilled Spirits Market

 


Distilled spirits, also known as "distilled liquor," are simply alcohol that has been distilled. Distilled alcohol is a legal term in most states and countries. In the United States, distilled spirit is defined as the product produced by removing any material that influences the taste, aroma, or color of the final product. This can include anything from wood chips to chemicals used during distillation. Distilled liquor is generally separated into three categories: Gin, Blintz, and Whiskey. Distilled gin is made by washing gin and vermouth in distilled water and then storing it in new bottles.

Distilled Vodka, Distilled Gin, Distilled Rum, Distilled Tequila, and Distilled Brandy are some of the many Distilled Spirit products available. A distilled spirit, or vodka, is basically an alcohol that has been distilled instead of fermented like wine and beer. Distilled alcohols include brandy, rum, gin, whiskey, tequila, and sparkling wine, among many others. Distilled liqueurs include gin, sparkling wine, brandy, triple sec, amaretto, sodas lite, tonic waters, lique, and many more. Botanicals, which come from plant life, are added to Distilled Gin to add flavor and depth to the drink. For Distilled Rum, cane, nutmeg, and other spices are added to the marjoram and the sugarcane are added for a sweet, tropical flavor.

Market Dynamics                                                              

High consumption of alcohol is expected to propel growth of the global distilled spirits market. For instance, according to the 2018 National Survey on Drug Use and Health (NSDUH), 86.3 percent of people ages 18 or older reported that they drank alcohol at some point in their lifetime.

Increasing disposable income is expected to offer lucrative growth opportunities for players in the global distilled spirits market. For instance, according to Organization for Economic Co-operation and Development (OECD) the disposable income of Africa increased by an annual growth rate of 1.5% during 2015-2018.

Stringent government regulations such as ban on advertisement of alcoholic beverages in public places and limited, permissible consumption of these products is expected to hinder growth of the distilled spirits market.

Among regions, Asia Pacific is expected to witness significant growth in the global distilled spirits market, owing to increasing disposable income in the region. For instance, according to the National Bureau of Statistics (China), the urban and rural per capita disposable income in China reached US$ 5,600 and US$ 2,000 in 2018, an increase of 5.6% and 6.6% in real terms after deducting price factors, respectively.

Competitive Analysis

Major players operating in the global distilled spirits market include, Diageo plc, Pernod-Ricard SA, Constellation Brands Inc., Brown-Forman Corporation, Remy Cointreau SA, Marie Brizard Wine & Spirits, Lapostolle SA and Berentzen-Gruppe AG.

October 2020: Diageo plc signed an agreement to acquire Chase Distillery, the owner of Chase GB Gin and Chase Original Potato Vodka.


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