Flavored Spirits Market | Growth Worth is CAGR of about 2.56% | Application | Insight | Forecast to 2023

Alcoholic spirits are commonly consumed by the youth that could be a major driver of the flavored spirits market globally.

Flavored Spirits Market Definition:

Alcoholic spirits are commonly consumed by the youth that could be a major driver of the flavored spirits market globally. Changing lifestyle and adoption of the fashionable trends has influenced the high sale of flavored spirits within the flavored spirits market. Increase in disposable income has a positive impact on this market. Growing demands for refreshing and fortified flavored alcoholic beverages is anticipated to have a positive impact on this market across the globe.

Flavored Spirits Market Scenario:

The shift in consumer’s alcohol consumption preferences has influenced the positive growth of flavored spirits within developing countries. Application of natural fruits as a flavor in the alcoholic beverage will increase the sales of flavored spirit products. Consumption of flavored spirits is gaining popularity as mass consumers choose to experiment with refreshing and new flavors in their drinks. Higher demand for flavored spirits from female population of urban countries have conjointly influenced the market of flavored spirits. Key players are focusing on merger and acquisition of small players as a result of the high demand for the products. France and U.K are witnessing more innovations in flavors compare to other European countries.

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Key Players

Some of the key players profiled in the global flavored spirits market: Constellation Brands Inc. (U.S.), Davide Campari-Milano S.p.A. (Italy), Lapostolle SA (Paris), Diageo plc (U.K.), The Brown-Forman Corporation (U.S.), Pernod Ricard (France), and Mast-Jägermeister SE (Germany) among many others.

Key Findings:

Europe region will witness high demand for flavored vodka products.

Top exporters of flavored spirits include Spain, Germany, U.S., Jamaica and the Netherlands

Intended Audience

Spirit manufacturers

Beverages industry

Agriculture Industry

Raw material suppliers

Traders, importers, and exporters

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Regional Analysis

The global market of seasoned spirits is metameric into North America, Europe, Asia Pacific, and rest of world (ROW). Europe has the key market share followed by North America. Key players in Europe is projected to get a high revenue throughout the given forecast period due to rising demand from developed economies in this particular region. The major importers of flavored spirits include U.S., Spain, Germany, U.K., and The Netherlands. Due to growing demand for alcoholic beverages particularly amongst the population of youth, the import and export of flavored spirits within the developed countries are found to rise at a moderate rate.

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by Dipak Rathod (few years ago!)

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