About Craft Vodka
Vodka is a clear, unaged spirit produced with any ingredient that has fermentable sugars. Cereal grains like rye, barley and wheat are common, but vodka can also be made with potatoes, grapes or sugar beets. Though the legal definition of vodka is a “colorless, odorless, flavorless” spirit, differences in aroma and taste can definitely be discerned among brands as well as among those made with different bases.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Craft Vodka market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
ST. GEORGE SPIRITS (United States), SUNTORY HOLDINGS LIMITED (Japan), Fifth Generation, Inc. (United States), William Grant & Sons Ltd. (United Kingdom), Diageo (United Kingdom), Pernod Ricard (Sweden), Horilka (Ukraine), Khortytsia (Ukraine), Roust Corporation (United States), Bacardi (Cuba), Deep Eddy (United States), Hangar 1 Vodka (United States) and Carve Craft Vodka (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Craft Vodka market by Type (Flavored and Unflavored), Application (Commercial, Hotel Industry and Others) and Region.
On the basis of geography, the market of Craft Vodka has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Offline (Supermarket/Hypermarket, Specialty Store) will boost the Craft Vodka market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Packaging Type, the sub-segment i.e. Glass will boost the Craft Vodka market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distiller Size, the sub-segment i.e. Upto 250ml will boost the Craft Vodka market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Focus on Improved Packaging and Ethnic and Indigenous Appeal Associated With Craft Vodka
Market Growth Drivers:
Growing Demand for Premium Drinks and Rising Number of Parties Due To Increasing Disposable Income
Challenges:
Fluctuations in Prices of Raw Materials
Restraints:
Premiumization of the Product and Availability of Substitutes
Opportunities:
Growing Promotional Activities by Using Popular Person as Brand Ambassador and Booming Consumption of Craft Spirits in Asian Markets
Market Leaders and their expansionary development strategies
In September 2023, Splash Beverage Group, Inc. a portfolio company of leading beverage brands, has acquire JEM Beverage Management Company, LLC, owners of the brand Western Son Vodka. This acquisition is a significant step forward in company's growth strategy.
In September 2023, Beam Suntory, the world leader in premium spirits, has launched of Haku® Vodka, the newest release from the iconic House of Suntory, the Founding House of Japanese Whiskey, in India. Created from Japanese ingredients by master artisans, Haku® Vodka represents the nature and spirit of Japan. The premium spirit embodies Suntory founder Shinjiro Torii’s philosophy of Monozukuri craftsmanship, a relentless pursuit of perfection, meticulous attention to detail and commitment to quality.
Alcohol and Tobacco Tax and Trade Bureau require that the distilled spirits such as vodka, rum, gin and tequila must be bottled at no less than 40% alcohol by volume (800 proof). Other Products such as cordial, liqueur and specialties may be bottled at a lower alcohol content.
Key Target Audience
Manufacturers of Craft Spirits, Manufacturers of Craft Vodka, Suppliers of Craft Vodka, Wholesalers, Distributors and Retailers of Craft Vodka, Research Organization and Governmental Bodies
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.