Global Vodka Market
Global Vodka Market, By Flavor Type (Flavored and Non-flavored), By Distribution Channel (Restaurants & Bars, Specialty Stores, Supermarkets & Hypermarkets, Online Stores, and Others), ByRegion (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) Trend Analysis, Competitive Market Share & Forecast, 2021-2027
- Published Date: August 2021
- Report ID: BWC2132
- Available Format: PDF
- Page: 200
Report Overview
Global vodka market is driven by the rising interest in cocktails culture among millennial consumers. The companies are now experimenting with innovative flavors for vodka cocktails, which is attracting consumers to try more expensive alcoholic beverages. Moreover, fast-changing consumer preferences are driving players to launch new products to align with those changes, which is driving demand for vodka.The Global Vodka Market was worth USD46.2 Billion in 2020 and is further projected to reach USD57.4 Billion by 2027, at a CAGR of 3.1% during 2021-2027 (forecast period). Vodka is made primarily from water and ethanol alcohol derived from grains, such as wheat, potato, corn, rye, and barley. Vodka is a mixture of average alcohol and water. Gin is a flavored vodka with spice extracts such as juniper berries. The two most popular drinks in the world are Vodka and Gin. The rising interest in cocktails culture among millennial consumers is driving the global vodka market. There are many innovative vodka flavors available in the market. Moreover, companies are experimenting with many innovative vodka flavors.In response to the rapid changes in consumer preferences, several key market players are also launching new products, which are contributing to increasing demand for vodka.
Source: BlueWeave Consulting
Global Vodka Market Overview
Vodka originated in Russia and Poland.It is a colorless liquor with a crisp, clean taste that pairs well with any kind of flavor and is commonly used in cocktails.The raw materials used for vodka production include starch, wheat, and different fruits for adding flavor.Vodka is often flavored with berries, peppercorns, lemon peel, buffalo grass, and caraway.Traditionally brewed vodkas have a 38% alcohol content.Bloody Mary, vodka and tonics, vodka martinis, and Screwdrivers are among the most popular vodka drinks.
Growth Drivers
Growing Demand from Millennials
Millennials make up the largest segment of the U.S. population.Millennials have become more aware of the reliability of various types of alcoholic beverages, mainly premium vodkas, after widespread usage of social media and the growth of pubs and nightlife.This has resulted in an increase in spending on alcoholic beverages, such as vodka, in on-trade channels worldwide.With social events and social gatherings on the rise and millennials being high-inclined towards drinking alcohol, sales of Vodka have increased as well.
Increased Demand for Flavored Vodka
Rising demand for small-batch handcrafted vodka with different flavor profiles and the change in taste of consumers are contributing to the growth of the vodka market. A brand of Heaven Hill Brands, and Deep Eddy Vodka— an American-made and family-owned spirits brand, offers a varied range of flavored vodkas such as tea vodka, cranberry vodka, lemon vodka, orange vodka, and many more. Due to this rising demand, the number of craft distilleries and spirit producers manufacturing craft vodkasis witnessing substantial growth in the global market.
Restraints
Effective Alcohol Digital Marketing Strategy
Effective use of the digital channel to drive sales is the primary digital transformation challenge facing the global vodka market. Vodka companies face a lot of difficulty in having efficient, effective, and measurable marketing channels like paid media, enterprise SEO, local SEO, and social media.Vodka companies have many challenges to overcome, including the development of digital experiences, website designs, and brand presentations.Vodka brands have taken this very seriously and are working to build better awareness of it.
Impact of COVID-19 in the Industry
The outbreak of the COVID-19 pandemic has majorly affected several industries. The food and beverage companies also suffered enormous losses, which in turn affected the world economy.The COVID-19 has disrupted the transportation network and disruptions in the supply of raw materials have harmed the growth of the vodka market globally. It is expected that as the economy recovers, the demand for vodka will also increase. Consumers are purchasing food and beverages through online retailers, which is why the demand for vodka is predicted to increase in the post-COVID-19 era.
Global Vodka Market: By Flavor Type
Based on flavor types, the Global Vodka Market has been segmented into Flavored and Non-flavored. The favored vodka segment holds the largest market share. This segment is growing because companies are experimenting with many different flavors for vodka cocktails that are attracting consumers towards learning more about premium alcoholic beverages.Moreover, new products are being introduced by major players to meet the rapid change in consumer preferences.Additionally, the market has noted significant growth due to the variety of vodkas available to consumers.
Global Vodka Market: By Distribution Channel
Based on distribution channels, the global vodka market is grouped into restaurants &bars, specialty stores, supermarkets &hypermarkets, online stores, and others. Among these distribution channels, the specialty stores segment holds a dominant position in the global vodka market. The online stores’ segment, on the other hand, is anticipated to grow steadily during the forecast period. There will be tremendous momentum for the segment in the future due to the ever-expanding penetration rates of special apps, the sway of major third-party online retailers, and initiatives from major vodka brands.
Global Vodka Market – Regional Insights
Based on the regions, the global vodkamarket is categorized into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Among these regions, North America is the dominant player in the global vodka market with the highest market share in terms of revenue compared to other markets in other regions. Several factors are contributing to the growth of vodka consumption in North America, including rising urbanization and increased disposable incomes in the region.The Asia Pacific region also has seen the fastest growth in terms of revenue due to factors such as changing lifestyles, increased demand for alcoholic beverages, increasing willingness to spend on alcoholic products, and the popularity of pubs and parties.
Source: BlueWeave Consulting
Recent Developments
- April 2021: Grey Goose launched the Essences line, which includes three variations of vodka infused with real fruit and botanicals: Strawberry and Lemongrass, Watermelon and Basil, and White Peach and Rosemary.
- August 2020: Diageo Plc, the world's largest spirits company, has written down £1.3 billion due to disruptions caused by coronaviruses, with India accounting for half of this impairment charge.
Competitive Landscape
- The key players in the global vodkamarketareStoli, Proximo Spirits, Canadian Iceberg Vodka Corporation, Distell, Constellation Brands Inc., Central European Distribution Corporation, Brown-Forman, Bacardi & Company Limited, Pernod Ricard, Campari Group, Diageo plc, Soyuz-Viktan, Tilaknagar Industries Ltd, Suntory, Russian Standard, Gray Goose, Nemiroff, The Absolut Company AB, The UB group, and other manufacturers.
- There are several large domestic and regional players in the global vodka market.Leading companies regularly engage in mergers, acquisitions, partnerships, and expansions, along with launching new products as strategic approaches accepted by consumers to increase their brand recognition and gain a competitive edge in the market.
Scope of the Report:
Attribute |
Details |
Years Considered |
Historical data – 2017-2020 Base Year – 2020 Forecast – 2021 – 2027 |
Facts Covered |
Revenue in USD Million |
Market Coverage |
U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, Argentina, UAE, South Africa, Saudi Arabia |
Product/Service Segmentation |
By FlavorType,By Distribution Channel, By Region |
Key Players |
Key players for Global Vodka Marketare Stoli, Proximo Spirits, Canadian Iceberg Vodka Corporation, Distell, Constellation Brands Inc., Central European Distribution Corporation, Brown-Forman, Bacardi & Company Limited, Pernod Ricard, Campari Group, Diageo plc, Soyuz-Viktan, Tilaknagar Industries Ltd, Suntory, Russian Standard, Gray Goose, Nemiroff, The Absolut Company AB, The UB groupand other key manufacturers.
|
- By Flavor Type
- Flavored
- Non-flavored
- By Distribution Channel
- Restaurants & Bars
- Specialty Stores
- Supermarkets & Hypermarkets
- Online Stores
- OthersTea Bags
- By Region
- North America
- Latin America
- Europe
- The Asia Pacific
- The Middle-East
- Africa
1. Research Framework
1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation
2. Research Methodology
2.1. Qualitative Research
2.1.1. Primary & Secondary Research
2.2. Quantitative Research
2.3. Market Breakdown & Data Triangulation
2.3.1. Secondary Research
2.3.2. Primary Research
2.4. Breakdown of Primary Research Respondents, By Region
2.5. Assumption & Limitation
3. Executive Summary
4. Global Vodka Market Insights
4.1. DROC Analysis
4.1.1. Growth Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. Recent Development
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Intensity of Rivalry
4.4 Value Chain Analysis
4.5 Key Strategic Developments
5. Global Vodka Market Overview
5.1. Market Size & Forecast by Value, 2017-2027
5.1.1. By Value (USD Million)
5.2. Market Share & Forecast
5.2.1. By Flavor Type
5.2.1.1. Flavored
5.2.1.2. Non-flavored
5.2.2. By Distribution Channels
5.2.2.1. Restaurants & Bars
5.2.2.2. Specialty Stores
5.2.2.3. Supermarkets & Hypermarkets
5.2.2.4. Online Stores
5.2.2.5. Others
5.2.3. By Region
5.2.3.1. North America
5.2.3.2. Latin America
5.2.3.3. Europe
5.2.3.4. Asia Pacific
5.2.3.5. Middle East
5.2.3.6. Africa
6. North America Vodka Market
6.1. Market Size & Forecast by Value, 2017-2027
6.1.1. By Value (USD Million)
6.2. Market Share & Forecast
6.2.1. By Flavor Type
6.2.2. By Distribution Channel
6.2.3. By Country
6.2.3.1. United States
6.2.3.2. Canada
7. EuropeVodka Market
7.1. Market Size & Forecast by Value, 2017-2027
7.1.1. By Value (USD Million)
7.2. Market Share & Forecast
7.2.1. By Flavor Type
7.2.2. By Distribution Channels
7.2.3. By Country
7.2.3.1. Germany
7.2.3.2. Poland
7.2.3.3. Russia
7.2.3.4. Italy
7.2.3.5. France
7.2.3.6. United Kingdom
7.2.3.7. Spain
7.2.3.8. Rest of Europe
8. Asia Pacific Vodka Market
8.1. Market Size & Forecast by Value, 2017-2027
8.1.1. By Value (USD Million)
8.2. Market Share & Forecast
8.2.1. By Flavor Type
8.2.2. By Distribution Channels
8.2.3. By Country
8.2.3.1. China
8.2.3.2. India
8.2.3.3. Japan
8.2.3.4. Malaysia
8.2.3.5. Singapore
8.2.3.6. Rest of Asia Pacific
9. Latin America Vodka Market
9.1. Market Size & Forecast by Value, 2017-2027
9.1.1. By Value (USD Million)
9.2. Market Share & Forecast
9.2.1. By Flavor Type
9.2.2. By Distribution Channels
9.2.3. By Country
9.2.3.1. Brazil
9.2.3.2. Mexico
9.2.3.3. Rest of Latin America
10. Middle East & AfricaVodka Market
10.1.Market Size & Forecast by Value, 2017-2027
10.1.1. By Value (USD Million)
10.2. Market Share & Forecast
10.2.1. By Type
10.2.2. By Distribution Channels
10.2.3. By Country
10.2.3.1. Saudi Arabia
10.2.3.2. UAE
10.2.3.3. South Africa
10.2.3.4. Rest of Middle East & Africa
11. Competitive Landscape
11.1. List of Key Players and Their Offerings
11.2. Market/Ranking Share Analysis
11.3. Competitive Benchmarking, By Operating Parameters
12. COVID-19 Impact
13. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook)
13.1. Stoli
13.2. Proximo Spirits
13.3. Canadian Iceberg Vodka Corporation
13.4. Distell
13.5. Constellation Brands Inc.
13.6. Central European Distribution Corporation
13.7. Brown-Forman
13.8. Bacardi & Company Limited
13.9. Pernod Ricard
13.10. Campari Group
13.11. Diageo plc
13.12. Soyuz-Viktan
13.13. Tilaknagar Industries Ltd
13.14. Suntory
13.15. Russian Standard
13.16. Gray Goose
13.17. Nemiroff
13.18. The Absolut Company AB
13.19. The UB group
13.20. Other Manufacturers
14. Key Strategic Recommendations
* Financial information of non-listed Companies will be provided as per availability
**The segmentation and the companies are subjected to modifications based on in-depth study during the final deliverable.
List of Figures
Fig 1: Global Vodka MarketSegmentation
Fig 2: Global Vodka MarketValue Chain Analysis,
Fig 3: Company Market Share Analysis, 2020
Fig 4: Global Vodka Market Size, By Value (USD Million), 2017-2027
Fig 5: Global Vodka Market Share (%), ByFlavor Type, By Value, 2017-2027
Fig 6: Global Vodka Market Share (%), By Distribution Channels, By Value, 2017-2027
Fig 7: Global Vodka Market Share (%), By Country, By Value, 2017-2027
Fig 8: North AmericaVodka Market Size, By Value (USD Million), 2017-2027
Fig 9: North AmericaVodka Market Share (%), By Flavor Type, By Value, 2017-2027
Fig 10: North America Vodka Market Share (%), By Distribution Channels, By Value, 2017-2027
Fig 11: North AmericaVodka Market Share (%), By Country, By Value, 2017-2027
Fig 12: EuropeVodka Market Size, By Value (USD Million), 2017-2027
Fig 13: EuropeVodka Market Share (%), By Flavor Type, By Value, 2017-2027
Fig 14: Europe Vodka Market Share (%), By Distribution Channels, By Value, 2017-2027
Fig 15: EuropeVodka Market Share (%), By Country, By Value, 2017-2027
Fig 16: Asia-Pacific,Vodka Market Size, By Value (USD Million), 2017-2027
Fig 17: Asia-Pacific,Vodka Market Share (%), By Flavor Type, By Value, 2017-2027
Fig 18: Asia-Pacific, Vodka Market Share (%), By Distribution Channels, By Value, 2017-2027
Fig 19: Asia-Pacific,Vodka Market Share (%), By Country, By Value,2017-2027
Fig 20: Latin AmericaVodka Market Size, By Value (USD Million), 2017-2027
Fig 21: Latin AmericaVodka Market Share (%), ByFlavor Type, By Value, 2017-2027
Fig 22: Latin America Vodka Market Share (%), By Distribution Channels, By Value, 2017-2027
Fig 23: Latin AmericaVodka Market Share (%), By Country, By Value, 2017-2027
Fig 24: Middle East & AfricaVodka Market Size, By Value (USD Million), 2017-2027
Fig 25: Middle East & AfricaVodka Market Share (%), ByFlavor Type, By Value, 2017-2027
Fig 26: Middle East & Africa Vodka Market Share (%), By Distribution Channels, By Value, 2017-2027
Fig 27: Middle East & AfricaVodka Market Share (%), By Country, By Value, 2017-2027
List of Tables
Table 1: Global Vodka Market Size, By Flavor Type, By Value (USD Million), 2017-2027
Table 2: Global Vodka Market Size, By Distribution Channels, By Value (USD Million), 2017-2027
Table 3: Global Vodka Market Size, By Region, By Value (USD Million), 2017-2027
Table 4: North AmericaVodka Market Size, By Flavor Type, By Value (USD Million), 2017-2027
Table 5: North America Vodka Market Size, By Distribution Channels, By Value (USD Million), 2017-2027
Table 6: North AmericaVodka Market Size, By Country, By Value (USD Million), 2017-2027
Table 7: EuropeVodka Market Size, By Flavor Type, By Value (USD Million), 2017-2027
Table 8: Europe Vodka Market Size, By Distribution Channels, By Value (USD Million), 2017-2027
Table 9: EuropeVodka Market Size, By Country, By Value (USD Million), 2017-2027
Table 10: The Asia-PacificVodka Market Size, ByFlavor Type, By Value (USD Million), 2017-2027
Table 11: The Asia-Pacific Vodka Market Size, By Distribution Channels, By Value (USD Million), 2017-2027
Table 12: The Asia-PacificVodka Market Size, By Country, By Value (USD Million), 2017-2027
Table 13: Latin AmericaVodka Market Size, By Flavor Type, By Value (USD Million), 2017-2027
Table 14: Latin America Vodka Market Size, By Distribution Channels, By Value (USD Million), 2017-2027
Table 15: Latin AmericaVodka Market Size, By Country, By Value (USD Million), 2017-2027
Table 16: The Middle-East & AfricaVodka Market Size, By Flavor Type, By Value (USD Million), 2017-2027
Table 17: The Middle-East & Africa Vodka Market Size, By Distribution Channels, By Value (USD Million), 2017-2027
Table 18: The Middle-East & AfricaVodka Market Size, By Country, By Value (USD Million), 2017-2027
Table 19: StoliFinancial Analysis
Table 20: StoliBusiness Overview
Table 21: Proximo SpiritsFinancial Analysis
Table 22: Proximo SpiritsBusiness Overview
Table 23: Canadian Iceberg Vodka CorporationFinancial Analysis
Table 24: Canadian Iceberg Vodka CorporationBusiness Overview
Table 25: DistellFinancial Analysis
Table 26: DistellBusiness Overview
Table 27: Constellation Brands Inc.Financial Analysis
Table 28: Constellation Brands Inc.Business Overview
Table 29: Central European Distribution CorporationFinancial Analysis
Table 30: Central European Distribution CorporationBusiness Overview
Table 31: Brown-FormanFinancial Analysis
Table 32: Brown-FormanBusiness Overview
Table 33: Bacardi & Company LimitedFinancial Analysis
Table 34: Bacardi & Company LimitedBusiness Overview
Table 35: Pernod RicardFinancial Analysis
Table 36: Pernod RicardBusiness Overview
Table 37: Campari GroupFinancial Analysis
Table 38: Campari GroupBusiness Overview
Table 39: Diageo plc Financial Analysis
Table 40: Diageo plc Business Overview
Table 41: Soyuz-Viktan Financial Analysis
Table 41: Soyuz-Viktan Business Overview
Table 42: Tilaknagar Industries Ltd Financial Analysis
Table 42: Tilaknagar Industries Ltd Business Overview
Table 43: Suntory Financial Analysis
Table 43: Suntory Business Overview
Table 44: Russian Standard Financial Analysis
Table 45: Russian Standard Business Overview
Table 46: Gray Goose Financial Analysis
Table 47: Gray Goose Business Overview
Table 48: Nemiroff Financial Analysis
Table 49: Nemiroff Business Overview
Table 50: The Absolut Company AB Financial Analysis
Table 51: The Absolut Company AB Business Overview
Table 52: The UB group Financial Analysis
Table 53: The UB group Business Overview
Market Segmentation
- By Flavor Type
- Flavored
- Non-flavored
- By Distribution Channel
- Restaurants & Bars
- Specialty Stores
- Supermarkets & Hypermarkets
- Online Stores
- OthersTea Bags
- By Region
- North America
- Latin America
- Europe
- The Asia Pacific
- The Middle-East
- Africa
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