Whiskey and Vodka Trends for 2020 - 2023

Whiskey and Vodka Trends for 2020 - 2023

 

Whiskey and Vodka Trends for 2020 – 2023

 

Alcoholic Drinks Report 2020 – Spirits 

Statista Consumer Market Outlook – Segment Report

The global Spirits market has witnessed solid growth over the past few years that is expected to continue only slightly less dynamically over the mid-term. The worldwide revenue of US $443 billion in 2019 is expected to increase to US $502 billion by 2023. The most important players by revenue in this segment are Diageo, Kweichow Moutai, Pernod Ricard, Suntory, and Bacardi.

Whiskey Trends World Wide

Revenue (2020)

-12.0% yoy 

US$15,958m

Average Revenue per Capita (2020)

-12.5% yoy 

US$48.21

  • Revenue in the Whisky segment amounts to US $ 15,958m in 2020. The market is expected to grow annually by 8.1% (CAGR 2020-2023).
  • In global comparison, most revenue is generated in India (US $ 18,791m in 2020).
  • In relation to total population figures, per person revenues of US $ 48.21 are generated in 2020.
  • The average per capita consumption stands at 1.4 L in 2020.

The Whisky trends for 2020- 2023 segment (in the U.S. and Ireland: Whiskey) contains distilled alcoholic beverages on a grain basis that have been aged in wooden casks for a duration of at least three years. Besides Vodka, Whiskey is one of the most popular Spirits worldwide. Great Britain and the U.S. are the world’s main important exporters of Whiskey. Diageo, Suntory, and Pernod Ricard are some of the world’s biggest producers.

The market for Alcoholic Drinks is structured into retail sales for at-home consumption and on-premise or foodservice sales for out-of-home consumption. The at-home market, also called an off-trade market, covers all retail sales via super- and hypermarkets, convenience stores, or similar sales channels. The out-of-home market, also called an on-trade market, away-from-home market, or HORECA encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Both the at-home and the out-of-home markets are valued at retail selling prices including all sales and consumption taxes. The valuation of the out-of-home segment at retail prices means a significant change of the market definition in comparison to earlier iterations of the Consumer Market Outlook, as out-of-home consumption was valued at wholesale prices before. This means market totals are not comparable to published data from prior years.

Vodka Trends Worldwide

Revenue (2020)

-9.9% yoy 

US $42,057m

Average Revenue per Capita (2020)

-10.8% yoy 

US $5.65

  • Revenue in the Vodka segment amounts to US $ 42,057m in 2020. The market is expected to grow annually by 8.0% (CAGR 2020-2023).
  • In global comparison, most revenue is generated in the United States (US $ 18,803m in 2020).
  • In relation to total population figures, per person revenues of US $ 5.65 are generated in 2020.
  • The average per capita consumption stands at 0.3 L in 2020.

The Vodka Trends for 2020 – 2023 segment contains distilled alcoholic beverages based on grain and/or potatoes with an alcohol content of typically 40 % vol abv. or more. Originating in Eastern Europe, Vodka is the most successfully sold spirit in the world today.

The market vodka trends for Alcoholic Drinks is structured into retail sales for at-home consumption and on-premise or foodservice sales for out-of-home consumption. The at-home market, also called an off-trade market, covers all retail sales via super- and hypermarkets, convenience stores, or similar sales channels. The out-of-home market, also called an on-trade market, away-from-home market, or HORECA encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Both the at-home and the out-of-home markets are valued at retail selling prices including all sales and consumption taxes. The valuation of the out-of-home segment at retail prices means a significant change of the market definition in comparison to earlier iterations of the Consumer Market Outlook, as out-of-home consumption was valued at wholesale prices before. This means market totals are not comparable to published data from prior years.

Conclusion:

Although, the Whiskey and Vodka trends this last 2020, have seen a downslope of profits worldwide due to the Corona Virus (Covis-19). It is forecasted at an 8% gain in 2021. Just in time to bounce back and get back to normal. Although 2020 has been a rough year for producers and retail establishments we are on the climb again and profits will continue to rise.

Extra Credit:

If you love to hear about more of the latest trends or market reports and brand information check out the Top 60 blogs related to Whiskey or Vodka here.

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