Market Research Report
France Spirits Market (Whisky, Rum, Vodka & Liqueurs): Insights & Forecast with Potential Impact of COVID-19 (2020-2024)
|Published by||Koncept Analytics||Product code||971965|
|Published||Content info||91 Pages
Delivery time: 1-2 business days
|France Spirits Market (Whisky, Rum, Vodka & Liqueurs): Insights & Forecast with Potential Impact of COVID-19 (2020-2024)|
|Published: November 17, 2020||Content info: 91 Pages||
France spirits market is forecasted to reach US$7.96 billion in 2024, growing at a CAGR of 3.12% for the period spanning 2020-2024. The factors such as rapid urbanization, increasing income, accelerating online spirits sales and peer influence on youngsters are expected to drive the market. However, growth of the industry would be challenged by high competitive pressure and retail consolidations. Few notable trends include growing demand for premium products and emergence of cocktail culture. In 2020, the outbreak of COVID-19 pandemic has created an unfavorable impact on the market as the great lockdown has supressed population income and so the demand.
In France, Spirit is one of the most popular beverages consumed on daily basis. The demand for these drinks has gained momentum owing to rising preference for alcohol content beverages by the populous residing in the urban areas. On the basis of alcohol measure, the popular types of spirits marketed are baijiu, cognac, whisky, vodka, flavoured spirits, rum, tequila and gin. Most selling product is whisky owing to rise in demand of single malt whiskey & barrel aged whiskey and increasing production rates owing to ease of raw material availability.
The market is growing due to growth in the demand for premium whisky, technological innovation in brewing machines and increase in the number of people preferring high-volume distilled alcohols in country.
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