PUBLISHER: Grand View Research | PRODUCT CODE: 1268897
PUBLISHER: Grand View Research | PRODUCT CODE: 1268897
Vodka Market Size, Share & Trends Analysis Report By Type (Flavored, Non-Flavored), By Distribution Channel (Off-Trade, On-Trade), By Region, And Segment Forecasts, 2023 - 2030
Vodka Market Growth & Trends:
The global vodka market size was estimated to reach USD 40.25 billion in 2030 and is expected to expand at a CAGR of 5.6% over the forecast period. Millennials have accounted for a significant percentage of alcohol drinkers in the recent past and this trend is anticipated to continue over the forecast period. The generation exhibits significant purchasing power and represents a major demographic for the alcoholic beverages market as they form a major percentage of consumers frequently visiting restaurants and pubs. As a result, they appear to be the most powerful buyers of various food and drink items, including vodka.
Vodka-based Ready to Drink (RTD) beverages such as pre-mixed cocktails, spirits, and hard seltzers are witnessing a huge increase in new product development, which is expected to drive the market. For example, in March 2022, under the Svedka brand, Constellation Brands launched a canned vodka line. The Tea Spritz line is described as a spirit-based hard seltzer that combines real tea, sparkling water, and natural tropical fruit flavors and is available in three flavors: Orange Mango, Pineapple Guava (both of which include turmeric), and Raspberry Kiwi.
Unlike beer and wine, vodka consumption at restaurants and bars has been growing. The growth is expected to continue outpacing on-premise consumption. With consumers' return to bars following the COVID-19 disruptions, vodka's on-premise consumption has been fueled, and this trend is anticipated to continue. According to IWSR Drinks Market Analysis in 2019, total vodka on-premise sales increased by 5.9% in the U.S. Grey Goose, for example, saw a 181% increase in on-premises sales in 2021, presenting lucrative opportunities for premium vodka manufacturers.
The flavored segment is anticipated to witness the fastest growth rate during the forecast period owing to the growing demand for high-end flavored vodka, especially among the millennial population. key companies are trying to offer a variety of vodka products and pioneer the 'ready-to-shake' drinks category. The newly launched product line includes the 'Whisky Sour' with DEWAR'S Blended Scotch whisky, 'Rum Daiquiri' made with BACARDI rum, and the 'Espresso Martini Cocktail' and 'Passion Fruit Martini Cocktail' made with 42BELOW vodka. With such initiatives
The off-trade segment is expected to register significant growth during the forecast period owing to the discounts and promotional offers provided by the retail outlets. The ease of accessing different varieties of alcohol at the outlets is expected to notable growth during the forecast period.
Asia Pacific is expected to register a significant CAGR of 6.1% during the forecast period. Asia Pacific is one of the leading markets for vodka owing to increased spending from people on better quality beverages in the region. In China, there has been a well-documented shift to buying alcohol online since the start of the pandemic. According to the study published by IWSR, the data shows that from 2019-2020, the value of China's alcohol e-commerce sector grew by approximately 20%. The increased penetration of online sales of alcohol in China is driving the growth of the vodka market.
Leading manufacturers are Diageo, Bacardi Limited, and Pernod Ricard. Large players in the market are also setting the trend of acquiring regional brands that serve multiple states. Players are recognizing the importance and dominance of regional brands, not just in terms of scaling their businesses but also in terms of the positive impact of consistent service on customers.
Vodka Market Report Highlights:
- Non-Flavored segment held the largest share of over 65% in 2022. The demand for non-flavored vodka can be attributed to the growth in health consciousness which encourages the consumption of alcohol made with natural ingredients
- On-Trade segment held a significant market share of more than 67% in 2022. The growth of the segment can be attributed to the growing number of pubs and expanding hospitality industry
- Europe is expected to register a significant CAGR of 5.8% during the forecast period. The rising demand for premium vodka and the growing cocktail culture are the key drivers for the growth of the vodka market in the region
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary Sources & Third-Party Perspectives
- 1.3.4. Primary Research
- 1.4. Information Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Formulation & Data Visualization
- 1.6. Data Validation & Publishing
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segmental Outlook
- 2.3. Regional Outlook
Chapter 3. Vodka Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.2. Industry Value Chain Analysis
- 3.2.1. Raw Material Outlook
- 3.2.2. Manufacturing Outlook
- 3.2.3. Profit Margin Analysis
- 3.3. Market Dynamics
- 3.3.1. Market Driver Analysis
- 3.3.2. Market Restraint Analysis
- 3.3.3. Market Opportunities
- 3.3.4. Market Challanges
- 3.4. Industry Analysis - Porter's Five Forces Analysis
- 3.5. Market Entry Strategies
Chapter 4. Vodka Market: Consumer Behaviour Analysis
- 4.1. Consumer Trends & Preferences
- 4.2. Factors Influencing Buying Behavior
- 4.3. Consumer Service Adoption Trends
- 4.4. Key Observations & Findings
Chapter 5. Vodka Market: Type Estimates & Trend Analysis
- 5.1. Type Movement Analysis & Market Share, 2022 & 2030
- 5.2. Flavored
- 5.2.1. Market estimates and forecast, 2017 - 2030 (USD Million)
- 5.3. Non-Flavored
- 5.3.1. Market estimates and forecast, 2017 - 2030 (USD Million)
Chapter 6. Vodka Market: Distribution Channel Estimates & Trend Analysis
- 6.1. Distribution Channel Movement Analysis & Market Share, 2021 & 2030
- 6.2. Off-Trade
- 6.2.1. Market estimates and forecast, 2017 - 2030 (USD Million)
- 6.3. On-Trade
- 6.3.1. Market estimates and forecast, 2017 - 2030 (USD Million)
Chapter 7. Vodka Market: Regional Estimates & Trend Analysis
- 7.1. Regional Movement Analysis & Market Share, 2021 & 2030
- 7.2. North America
- 7.2.1. Market estimates and forecast, 2017 - 2030 (USD Million)
- 7.2.2. Market estimates and forecast, by type, 2017 - 2030 (USD Million)
- 7.2.3. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Million)
- 7.2.4. U.S.
- 7.2.4.1. Market estimates and forecast, 2017 - 2030 (USD Million)
- 7.2.4.2. Market estimates and forecast, by type, 2017 - 2030 (USD Million)
- 7.2.4.3. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Million)
- 7.2.5. Canada
- 7.2.5.1. Market estimates and forecast, 2017 - 2030 (USD Million)
- 7.2.5.2. Market estimates and forecast, by type, 2017 - 2030 (USD Million)
- 7.2.5.3. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Million)
- 7.3. Europe
- 7.3.1. Market estimates and forecast, 2017 - 2030 (USD Million)
- 7.3.2. Market estimates and forecast, by type, 2017 - 2030 (USD Million)
- 7.3.3. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Million)
- 7.3.4. U.K.
- 7.3.4.1. Market estimates and forecast, 2017 - 2030 (USD Million)
- 7.3.4.2. Market estimates and forecast, by type, 2017 - 2030 (USD Million)
- 7.3.4.3. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Million)
- 7.3.5. Germany
- 7.3.5.1. Market estimates and forecast, 2017 - 2030 (USD Million)
- 7.3.5.2. Market estimates and forecast, by type, 2017 - 2030 (USD Million)
- 7.3.5.3. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Million)
- 7.3.6. France
- 7.3.6.1. Market estimates and forecast, 2017 - 2030 (USD Million)
- 7.3.6.2. Market estimates and forecast, by type, 2017 - 2030 (USD Million)
- 7.3.6.3. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Million)
- 7.3.7. Russia
- 7.3.7.1. Market estimates and forecast, 2017 - 2030 (USD Million)
- 7.3.7.2. Market estimates and forecast, by type, 2017 - 2030 (USD Million)
- 7.3.7.3. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Million)
- 7.3.8. Italy
- 7.3.8.1. Market estimates and forecast, 2017 - 2030 (USD Million)
- 7.3.8.2. Market estimates and forecast, by type, 2017 - 2030 (USD Million)
- 7.3.8.3. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Million)
- 7.4. Asia Pacific
- 7.4.1. Market estimates and forecast, 2017 - 2030 (USD Million)
- 7.4.2. Market estimates and forecast, by type, 2017 - 2030 (USD Million)
- 7.4.3. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Million)
- 7.4.4. China
- 7.4.4.1. Market estimates and forecast, 2017 - 2030 (USD Million)
- 7.4.4.2. Market estimates and forecast, by type, 2017 - 2030 (USD Million)
- 7.4.4.3. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Million)
- 7.4.5. India
- 7.4.5.1. Market estimates and forecast, 2017 - 2030 (USD Million)
- 7.4.5.2. Market estimates and forecast, by type, 2017 - 2030 (USD Million)
- 7.4.5.3. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Million)
- 7.4.6. Japan
- 7.4.6.1. Market estimates and forecast, 2017 - 2030 (USD Million)
- 7.4.6.2. Market estimates and forecast, by type, 2017 - 2030 (USD Million)
- 7.4.6.3. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Million)
- 7.5. Central & South America
- 7.5.1. Market estimates and forecast, 2017 - 2030 (USD Million)
- 7.5.2. Market estimates and forecast, by type, 2017 - 2030 (USD Million)
- 7.5.3. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Million)
- 7.5.4. Brazil
- 7.5.4.1. Market estimates and forecast, 2017 - 2030 (USD Million)
- 7.5.4.2. Market estimates and forecast, by type, 2017 - 2030 (USD Million)
- 7.5.4.3. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Million)
- 7.5.5. Argentina
- 7.5.5.1. Market estimates and forecast, 2017 - 2030 (USD Million)
- 7.5.5.2. Market estimates and forecast, by type, 2017 - 2030 (USD Million)
- 7.5.5.3. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Million)
- 7.6. Middle East & Africa
- 7.6.1. Market estimates and forecast, 2017 - 2030 (USD Million)
- 7.6.2. Market estimates and forecast, by type, 2017 - 2030 (USD Million)
- 7.6.3. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Million)
- 7.6.4. South Africa
- 7.6.4.1. Market estimates and forecast, 2017 - 2030 (USD Million)
- 7.6.4.2. Market estimates and forecast, by type, 2017 - 2030 (USD Million)
- 7.6.4.3. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Million)
Chapter 8. Competitive Analysis
- 8.1. Recent developments & impact analysis, by key market participants
- 8.2. Company Categorization
- 8.3. Participant's Overview
- 8.4. Financial Performance
- 8.5. Product Benchmarking
- 8.6. Company Market Share Analysis, 2022 (%)
- 8.7. Company Heat Map Analysis
- 8.8. Strategy Mapping
- 8.9. List of key companies analyzed in this section include:
- 8.9.1. Brown-Forman Corporation
- 8.9.2. Diageo
- 8.9.3. Pernod Ricard
- 8.9.4. Belvedere Vodka
- 8.9.5. Bacardi Limited
- 8.9.6. Constellation Brands, Inc.
- 8.9.7. Proximo Spirits, Inc.
- 8.9.8. Distell Limited
- 8.9.9. Stoli Group
- 8.9.10. Iceberg Vodka Corporation
List of Tables
- 1. Vodka market estimates & forecast, by type (USD Million)
- 2. Vodka market estimates & forecast, by distribution channel (USD Million)
- 3. U.S. macro-economic outlay
- 4. Canada macro-economic outlay
- 5. U.K. macro-economic outlay
- 6. Germany macro-economic outlay
- 7. France macro-economic outlay
- 8. Russia macro-economic outlay
- 9. Italy macro-economic outlay
- 10. China macro-economic outlay
- 11. India macro-economic outlay
- 12. Japan macro-economic outlay
- 13. Brazil macro-economic outlay
- 14. Argentina macro-economic outlay
- 15. South Africa macro-economic outlay
- 16. Recent developments & impact analysis, by key market participants
List of Figures
- 1. Vodk market segmentation
- 2. Information procurement
- 3. Primary research pattern
- 4. Primary research approaches
- 5. Primary research process
- 6. Market Snapshot
- 7. Segment Snapshot
- 8. Competitive Landscape Snapshot
- 9. Vodka market - Industry value chain analysis
- 10. Vodka market dynamics
- 11. Vodka market: PORTER's analysis
- 12. Vodka market, by type: Key takeaways
- 13. Vodka market, by type: Market share, 2022 & 2030
- 14. Vodka market estimates & forecasts, by flavored, 2017 - 2030 (USD Million)
- 15. Vodka market estimates & forecasts, by non-flavored, 2017 - 2030 (USD Million)
- 16. Vodka market, by distribution channel: Key takeaways
- 17. Vodka market, by distribution channel: Market share, 2022 & 2030
- 18. Vodka market revenue, by region, 2022 & 2030, (USD Million)
- 19. Regional marketplace: Key takeaways
- 20. North America vodka market estimates & forecast, 2017 - 2030 (USD Million)
- 21. U.S. vodka market estimates & forecast, 2017 - 2030 (USD Million)
- 22. Canada vodka market estimates & forecast, 2017 - 2030 (USD Million)
- 23. Europe vodka market estimates & forecasts, 2017 - 2030 (USD Million)
- 24. U.K. vodka market estimates & forecasts, 2017 - 2030 (USD Million)
- 25. Germany vodka market estimates & forecasts, 2017 - 2030 (USD Million)
- 26. France vodka market estimates & forecasts, 2017 - 2030 (USD Million)
- 27. Russia vodka market estimates & forecasts, 2017 - 2030 (USD Million)
- 28. Italy vodka market estimates & forecasts, 2017 - 2030 (USD Million)
- 29. Asia Pacific vodka market estimates & forecast, 2017 - 2030 (USD Million)
- 30. China vodka market estimates & forecast, 2017 - 2030 (USD Million)
- 31. India vodka market estimates & forecast, 2017 - 2030 (USD Million)
- 32. Japan vodka market estimates & forecast, 2017 - 2030 (USD Million)
- 33. Central & South America vodka market estimates & forecast, 2017 - 2030 (USD Million)
- 34. Brazil vodka market estimates & forecast, 2017 - 2030 (USD Million)
- 35. Argentina vodka market estimates & forecast, 2017 - 2030 (USD Million)
- 36. Middle East & Africa vodka market estimates & forecast, 2017 - 2030 (USD Million)
- 37. South Africa vodka market estimates & forecast, 2017 - 2030 (USD Million)
- 38. Key company categorization
- 39. Company market share analysis, 2022 (Value % Share)
