Dark Spirits Market Thumbnail Image

2021

Dark Spirits Market

Dark Spirits Market Size, Share, Competitive Landscape and Trend Analysis Report by Type and Distribution Channel : Global Opportunity Analysis and Industry Forecast, 2021-2027

FB : Beverages

Select an option
Author's: Himanshu Vig | Roshan Deshmukh
Publish Date:

Get Sample to Email

The dark spirits market size was valued at $87.2 billion in 2019, and is expected to reach $129.1 billion by 2027, registering a CAGR of 6.4% from 2021 to 2027. The whiskey segment led in terms of the dark spirits market share in 2019, and is expected to retain its dominance over the forecast period.

Mass produced dark spirits are highly prevalent in developing countries of the Asia-Pacific region such as India. However, the premium segment has witnessed surge in demand from the last 5 years. Furthermore, aspiring consumers are developing the taste for premium products that offer unique and authentic experience. In addition, rising disposable income, urbanization, and rising middle class population positively impact the market of premium products. With growing number of pubs, bars, and breweries serving alcoholic beverages, premium spirits are driving the dark spirits market growth in both developed and developing economies.

Dark-Spirits-Market-2021-2027

Online grocery and delivery services have gained high traction in the last 5 years. The growth of such platforms is further accelerated by the ongoing pandemic. As a result, engaged stakeholders in the industry have partnered with existing delivery services such as Uber and Deliveroo. Though the distribution of dark spirits via e-commerce platforms faces challenges, such as logistics, regulations, and temperature control requirements however, with advancements of technologies in logistics, easing of regulations, and increasing digital connectivity, sales via e commerce channels are expected to gain high traction, thereby providing growth opportunities for the stakeholders in the coming years.Attributed to high negative impact of dark spirits on human health, they are heavily taxed. Furthermore, taxes on whiskey are higher than

their counterparts in the U.S. In India, which is the largest consumer of whiskey in the world, the raw materials for whiskey are heavily taxed to discourage consumption. Molasses, one the prominent ingredients for manufacturing whiskey, is taxed at 28%. Similarly, other inputs, such as chemicals and coloring agents, are taxed below 18%. High taxation exerts negative pressure on consumers and has profound impacts on their purchasing decisions. With high taxation on whiskey, the dark spirits market continues to flounder across several regions.

Segment review

The global dark spirits market is segmented on the basis of type, distribution channel, and region. Based on type, the global market is segmented into whiskey, rum, and brandy. By distribution channel the market is bifurcated into on trade and off trade. Region-wise, the global market is studied across North America, Europe, Asia-Pacific, and LAMEA. North America is studied across the U.S., Canada, and Mexico. Europe is studied across the UK, Germany, France, Spain, Russia, and the rest of Europe. India, China, Japan, ASEAN, Australia, and the rest of Asia-Pacific are the countries analyzed under the Asia-Pacific region. LAMEA includes Brazil, Argentina, the UAE, South Africa, and the rest of LAMEA.

Dark Spirits Market
By Type
Your browser does not support the canvas element.

Whiskey segment would exhibit the highest CAGR of 6.6% during 2021-2027.

On the basis of type, the global market is segmented into whiskey, rum, and brandy. The whiskey segment leads in terms of market share and is poised to grow with the highest CAGR during the forecast period. There has been significant increase in people who want to try new taste and flavors, thereby resulting in increased demand for craft whiskies.

Dark Spirits Market
By Distribution Channel
Your browser does not support the canvas element.

On trade segment would exhibit the highest CAGR of 7.4% during 2021-2027.

On the basis of distribution channel, the global market for dark spirits is studied across on trade and off trade. The off trade segment holds the maximum market share in the global market. However, the on trade segment is poised to grow with the highest CAGR during the forecast period.

Dark Spirits Market
By Region
2027
Asia-pacific 
North America
Europe
LAMEA

Asia Pacific region would exhibit the highest CAGR of 7.7% during 2021-2027.

The report focuses on the growth prospects, restraints, and opportunities of the global market. The study provides Porter’s five forces analysis to understand the impact of various factors, such as competitive intensity of competitors, bargaining power of suppliers, threat of substitutes, threat of new entrants, and bargaining power of buyers, of the dark spirits market.

Some of the major players profiled in the dark spirits market analysis include Anheuser-Busch InBev, Asahi Group Holdings, Kirin Holdings, Diageo, Suntory Holdings, Pernod Ricard, Bacardi Limited, LT Group, Inc (Tanduay), The Brown–Forman Corporation, and Rémy Cointreau.

COVID-19 impact analysis

  • The liquor industry was not impacted severely due to the pandemic.
  • The COVID-19 pandemic had a significant impact on the on trade segment due to the closure of pubs, hotels, and bars across the globe in an attempt to prevent the spread of coronavirus.
  • Manufacturers are comprehending strategies to revive from the current situation by means of reshaping their sales channels as well as product innovation.
  • The duration of the virus outbreak remains a key factor in assessing the overall impact of the pandemic. However, the global dark spirits industry is expected to stabilize after 2021.

Key Benefits For Stakeholders

  • The report provides an extensive analysis of the current and emerging dark spirits market trends and opportunities.
  • The report provides detailed qualitative and quantitative analysis of the current trends and future estimations that help evaluate the prevailing dark spirits market opportunities in the market.
  • The dark spirits market forecast is offered along with information related to key drivers, restraints, and opportunities.
  • The market analysis is conducted by following key product positioning and monitoring the top competitors within the market framework.
  • The report provides extensive qualitative insights on the potential and niche segments or regions exhibiting favorable market growth.

Dark Spirits Market Report Highlights

Aspects Details
icon_5
By Type
  • Whiskey
  • Rum
  • Brandy
icon_6
By Distribution Channel
  • On Trade
  • Off Trade
icon_7
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (UK, Germany, France, Spain, Russia, Rest of Europe)
  • Asia-Pacific  (India, China, Japan, ASEAN, Australia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Argentina, UAE, South Africa, Rest of LAMEA)
icon_8
Key Market Players

LT GROUP, INC, THE BROWN–FORMAN CORPORATION, PERNOD RICARD, SUNTORY HOLDINGS LIMITED, KIRIN BREWERY COMPANY, LIMITED, RÉMY COINTREAU, ASAHI GROUP HOLDINGS, LTD., DIAGEO PLC, BACARDI LIMITED, ANHEUSER-BUSCH INBEV

Analyst Review

Dark spirits, especially whiskey, are one of the few bright spots in otherwise troubled alcohol industry. Driven by premiumization, the global dark spirits industry is expected to grow with robust CAGR in the coming years. Furthermore, there is rapid emergence of online channels and craft brewers to further bolster the growth of the dark spirits market especially in the developing economies. Nevertheless, the market also faces challenges from its counterparts such as beer, hard seltzer, and wine. In addition, high taxation and import duties on dark spirits further challenge the market expansion.

The market is now being fueled by innovation and product launches. It has witnessed continuous product launches especially in the organic segment of the alcohol market. Furthermore, aggressive advertising and promotion of myriad of brands plays a conspicuous role in the market expansion. Changing demographics, urbanization, and rising middle class population are anticipated to positively impact the market growth. However, increasing consumer awareness about the negative impact of alcohol and counterfeit products possess major challenge for the engaged stakeholders operating in the dark spirits industry.

 

Author Name(s) : Himanshu Vig | Roshan Deshmukh
Frequently Asked Questions?

The dark spirits market is projected to grow with a CAGR of 6.4% from 2021 - 2027.

The dark spirits market is expected to reach $129.1 billion by end of 2027.

Kindly raise an inquiry through the chat box and our business executive will get in touch with you with the details on the purchase options.

Craft whiskey and premiumization are the top factors propelling market growth.

Leading players operating in the market are Anheuser-Busch InBev, Asahi Group Holdings, Kirin Holdings, Diageo, Suntory Holdings, Pernod Ricard, Bacardi Limited, LT Group, Inc (Tanduay), The Brown–Forman Corporation, and Rémy Cointreau.

Kindly raise an inquiry through the chat box and our business executive will get in touch with you with the details on the purchase options.

The global dark spirits market is segmented on the basis of type, distribution channel, and region.

Acquisition and product launch are the top strategies adopted by the leading market players in the market.

The off trade segment holds the maximum market share in the global market and is expected to retain its dominance throughout the forecast period.

Loading Table Of Content...

Dark Spirits Market

Global Opportunity Analysis and Industry Forecast, 2021-2027