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Report
Specialty Spirits Market Report by Product Type (Baijiu, Shochu, Sake, Soju, Cachaca), Distribution Channel (Business to Business, Business to Consumers), and Region 2024-2032
Market Report I 2024-03-02 I 141 Pages I IMARC Group
The global specialty spirits market size reached US$ 31.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 46.4 Billion by 2032, exhibiting a growth rate (CAGR) of 4.37% during 2024-2032. The rising preference for healthy alcoholic drinks across the globe, the increasing expenditure capacities of consumers, and the introduction of low alcohol by volume (ABV) specialty spirits represent some of the key factors driving the market.
Specialty spirits refer to alcoholic beverages that are crafted in small batches using unique ingredients and production techniques. It includes herbal liquors, mezcal, fruit brandies, amaro, absinthe, aquavit, shochu, chartreuse, cachaca, sake, baijiu, and soju. They are produced by infusing or macerating various high-quality and natural ingredients, such as herbs, botanicals, fruits, grains, and roots, followed by distillation, aging, blending, and bottling. As compared to traditional spirits, specialty spirits are healthy, environment-friendly, and sustainable and offer superior quality, unique taste, and distinct flavor profiles. They are rich in antioxidants, which aid in improving sleep, promoting digestive health, reducing inflammation, lowering stress levels, and alleviating pain. Specialty Spirits also promote regional cultures and practices as they are manufactured using local ingredients and centuries-old traditional methods.
Specialty Spirits Market Trends:
The growing interest among consumers to try unique and high-quality spirits that offer a distinct flavor profile and a premium drinking experience across the globe is one of the key factors driving the market growth. In line with this, rising preference for specialty spirits that are produced from natural ingredients, such as herbs, fruits, and botanicals, that are rich in antioxidants and anti-inflammatory properties, which aid in digestion, stimulate appetite, reduce anxiety, and promote relaxation is propelling the market growth. Furthermore, the emerging cocktail culture among the masses is facilitating the product demand as it is used as a complementary ingredient to add depth, complexity, and smoky flavor to various drinks, such as margaritas, negroni, and whiskey sour. Additionally, the introduction of low alcohol by volume (ABV) specialty spirits, which are healthier alternatives, reduce alcohol intake, minimize intoxication, improve hydration, and prevent alcohol-related problems, is positively influencing the market growth. Besides this, the adoption of sustainable manufacturing practices by distillers, such as sourcing local ingredients, utilizing renewable energy, and reducing water consumption, is providing a thrust to the market growth. Moreover, aggressive promotional activities by manufacturers through social media campaigns, advertisements, and celebrity endorsements are supporting the market growth. Other factors, including rising expenditure capacities of consumers, easy product availability across e-commerce platforms, extensive research and development (R&D) activities, and the growing health consciousness among the masses, are anticipated to drive the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global specialty spirits market, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on product type and distribution channel.
Product Type Insights:
Baijiu
Shochu
Sake
Soju
Cachaca
The report has provided a detailed breakup and analysis of the specialty spirits market based on the product type. This includes baijiu, shochu, sake, soju, and cachaca. According to the report, baijiu represented the largest segment.
Distribution Channel Insights:
Business to Business
Business to Consumers
A detailed breakup and analysis of the specialty spirits market based on the distribution channel has also been provided in the report. This includes business to business and business to consumers. According to the report, business to consumers accounted for the largest market share.
Regional Insights:
North America
United States
Canada
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for specialty spirits. Some of the factors driving the North America specialty spirits market included rising expenditure capacities of consumers, increasing health consciousness among the masses, and rapid product innovations.
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global specialty spirits market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Craft Distillers, HiteJinro Co. Ltd, Kirishima Shuzo Co. Ltd, Lotte, Sanwa Shurui Co.ltd., Takara Shuzo Co. Ltd, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Questions Answered in This Report:
How has the global specialty spirits market performed so far, and how will it perform in the coming years?
What are the drivers, restraints, and opportunities in the global specialty spirits market?
What is the impact of each driver, restraint, and opportunity on the global specialty spirits market?
What are the key regional markets?
Which countries represent the most attractive specialty spirits market?
What is the breakup of the market based on the product type?
Which is the most attractive product type in the specialty spirits market?
What is the breakup of the market based on the distribution channel?
Which is the most attractive distribution channel in the specialty spirits market?
What is the competitive structure of the global specialty spirits market?
Who are the key players/companies in the global specialty spirits market?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Specialty Spirits Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Product Type
6.1 Baijiu
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Shochu
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Sake
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Soju
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 Cachaca
6.5.1 Market Trends
6.5.2 Market Forecast
7 Market Breakup by Distribution Channel
7.1 Business to Business
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Business to Consumers
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by Region
8.1 North America
8.1.1 United States
8.1.1.1 Market Trends
8.1.1.2 Market Forecast
8.1.2 Canada
8.1.2.1 Market Trends
8.1.2.2 Market Forecast
8.2 Asia-Pacific
8.2.1 China
8.2.1.1 Market Trends
8.2.1.2 Market Forecast
8.2.2 Japan
8.2.2.1 Market Trends
8.2.2.2 Market Forecast
8.2.3 India
8.2.3.1 Market Trends
8.2.3.2 Market Forecast
8.2.4 South Korea
8.2.4.1 Market Trends
8.2.4.2 Market Forecast
8.2.5 Australia
8.2.5.1 Market Trends
8.2.5.2 Market Forecast
8.2.6 Indonesia
8.2.6.1 Market Trends
8.2.6.2 Market Forecast
8.2.7 Others
8.2.7.1 Market Trends
8.2.7.2 Market Forecast
8.3 Europe
8.3.1 Germany
8.3.1.1 Market Trends
8.3.1.2 Market Forecast
8.3.2 France
8.3.2.1 Market Trends
8.3.2.2 Market Forecast
8.3.3 United Kingdom
8.3.3.1 Market Trends
8.3.3.2 Market Forecast
8.3.4 Italy
8.3.4.1 Market Trends
8.3.4.2 Market Forecast
8.3.5 Spain
8.3.5.1 Market Trends
8.3.5.2 Market Forecast
8.3.6 Russia
8.3.6.1 Market Trends
8.3.6.2 Market Forecast
8.3.7 Others
8.3.7.1 Market Trends
8.3.7.2 Market Forecast
8.4 Latin America
8.4.1 Brazil
8.4.1.1 Market Trends
8.4.1.2 Market Forecast
8.4.2 Mexico
8.4.2.1 Market Trends
8.4.2.2 Market Forecast
8.4.3 Others
8.4.3.1 Market Trends
8.4.3.2 Market Forecast
8.5 Middle East and Africa
8.5.1 Market Trends
8.5.2 Market Breakup by Country
8.5.3 Market Forecast
9 Drivers, Restraints, and Opportunities
9.1 Overview
9.2 Drivers
9.3 Restraints
9.4 Opportunities
10 Value Chain Analysis
11 Porters Five Forces Analysis
11.1 Overview
11.2 Bargaining Power of Buyers
11.3 Bargaining Power of Suppliers
11.4 Degree of Competition
11.5 Threat of New Entrants
11.6 Threat of Substitutes
12 Price Analysis
13 Competitive Landscape
13.1 Market Structure
13.2 Key Players
13.3 Profiles of Key Players
13.3.1 Craft Distillers
13.3.1.1 Company Overview
13.3.1.2 Product Portfolio
13.3.2 HiteJinro Co. Ltd
13.3.2.1 Company Overview
13.3.2.2 Product Portfolio
13.3.2.3 Financials
13.3.3 Kirishima Shuzo Co. Ltd
13.3.3.1 Company Overview
13.3.3.2 Product Portfolio
13.3.4 Lotte
13.3.4.1 Company Overview
13.3.4.2 Product Portfolio
13.3.4.3 Financials
13.3.5 Sanwa Shurui Co.ltd.
13.3.5.1 Company Overview
13.3.5.2 Product Portfolio
13.3.6 Takara Shuzo Co. Ltd
13.3.6.1 Company Overview
13.3.6.2 Product Portfolio
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Figure 1: Global: Specialty Spirits Market: Major Drivers and Challenges
Figure 2: Global: Specialty Spirits Market: Sales Value (in Billion US$), 2018-2023
Figure 3: Global: Specialty Spirits Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 4: Global: Specialty Spirits Market: Breakup by Product Type (in %), 2023
Figure 5: Global: Specialty Spirits Market: Breakup by Distribution Channel (in %), 2023
Figure 6: Global: Specialty Spirits Market: Breakup by Region (in %), 2023
Figure 7: Global: Specialty Spirits (Baijiu) Market: Sales Value (in Million US$), 2018 & 2023
Figure 8: Global: Specialty Spirits (Baijiu) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 9: Global: Specialty Spirits (Shochu) Market: Sales Value (in Million US$), 2018 & 2023
Figure 10: Global: Specialty Spirits (Shochu) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 11: Global: Specialty Spirits (Sake) Market: Sales Value (in Million US$), 2018 & 2023
Figure 12: Global: Specialty Spirits (Sake) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 13: Global: Specialty Spirits (Soju) Market: Sales Value (in Million US$), 2018 & 2023
Figure 14: Global: Specialty Spirits (Soju) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 15: Global: Specialty Spirits (Cachaca) Market: Sales Value (in Million US$), 2018 & 2023
Figure 16: Global: Specialty Spirits (Cachaca) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 17: Global: Specialty Spirits (Business to Business) Market: Sales Value (in Million US$), 2018 & 2023
Figure 18: Global: Specialty Spirits (Business to Business) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 19: Global: Specialty Spirits (Business to Consumers) Market: Sales Value (in Million US$), 2018 & 2023
Figure 20: Global: Specialty Spirits (Business to Consumers) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 21: North America: Specialty Spirits Market: Sales Value (in Million US$), 2018 & 2023
Figure 22: North America: Specialty Spirits Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 23: United States: Specialty Spirits Market: Sales Value (in Million US$), 2018 & 2023
Figure 24: United States: Specialty Spirits Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 25: Canada: Specialty Spirits Market: Sales Value (in Million US$), 2018 & 2023
Figure 26: Canada: Specialty Spirits Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 27: Asia-Pacific: Specialty Spirits Market: Sales Value (in Million US$), 2018 & 2023
Figure 28: Asia-Pacific: Specialty Spirits Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 29: China: Specialty Spirits Market: Sales Value (in Million US$), 2018 & 2023
Figure 30: China: Specialty Spirits Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 31: Japan: Specialty Spirits Market: Sales Value (in Million US$), 2018 & 2023
Figure 32: Japan: Specialty Spirits Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 33: India: Specialty Spirits Market: Sales Value (in Million US$), 2018 & 2023
Figure 34: India: Specialty Spirits Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 35: South Korea: Specialty Spirits Market: Sales Value (in Million US$), 2018 & 2023
Figure 36: South Korea: Specialty Spirits Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 37: Australia: Specialty Spirits Market: Sales Value (in Million US$), 2018 & 2023
Figure 38: Australia: Specialty Spirits Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 39: Indonesia: Specialty Spirits Market: Sales Value (in Million US$), 2018 & 2023
Figure 40: Indonesia: Specialty Spirits Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 41: Others: Specialty Spirits Market: Sales Value (in Million US$), 2018 & 2023
Figure 42: Others: Specialty Spirits Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 43: Europe: Specialty Spirits Market: Sales Value (in Million US$), 2018 & 2023
Figure 44: Europe: Specialty Spirits Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 45: Germany: Specialty Spirits Market: Sales Value (in Million US$), 2018 & 2023
Figure 46: Germany: Specialty Spirits Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 47: France: Specialty Spirits Market: Sales Value (in Million US$), 2018 & 2023
Figure 48: France: Specialty Spirits Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 49: United Kingdom: Specialty Spirits Market: Sales Value (in Million US$), 2018 & 2023
Figure 50: United Kingdom: Specialty Spirits Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 51: Italy: Specialty Spirits Market: Sales Value (in Million US$), 2018 & 2023
Figure 52: Italy: Specialty Spirits Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 53: Spain: Specialty Spirits Market: Sales Value (in Million US$), 2018 & 2023
Figure 54: Spain: Specialty Spirits Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 55: Russia: Specialty Spirits Market: Sales Value (in Million US$), 2018 & 2023
Figure 56: Russia: Specialty Spirits Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 57: Others: Specialty Spirits Market: Sales Value (in Million US$), 2018 & 2023
Figure 58: Others: Specialty Spirits Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 59: Latin America: Specialty Spirits Market: Sales Value (in Million US$), 2018 & 2023
Figure 60: Latin America: Specialty Spirits Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 61: Brazil: Specialty Spirits Market: Sales Value (in Million US$), 2018 & 2023
Figure 62: Brazil: Specialty Spirits Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 63: Mexico: Specialty Spirits Market: Sales Value (in Million US$), 2018 & 2023
Figure 64: Mexico: Specialty Spirits Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 65: Others: Specialty Spirits Market: Sales Value (in Million US$), 2018 & 2023
Figure 66: Others: Specialty Spirits Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 67: Middle East and Africa: Specialty Spirits Market: Sales Value (in Million US$), 2018 & 2023
Figure 68: Middle East and Africa: Specialty Spirits Market: Breakup by Country (in %), 2023
Figure 69: Middle East and Africa: Specialty Spirits Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 70: Global: Specialty Spirits Industry: Drivers, Restraints, and Opportunities
Figure 71: Global: Specialty Spirits Industry: Value Chain Analysis
Figure 72: Global: Specialty Spirits Industry: Porter's Five Forces Analysis
Table 1: Global: Specialty Spirits Market: Key Industry Highlights, 2023 & 2032
Table 2: Global: Specialty Spirits Market Forecast: Breakup by Product Type (in Million US$), 2024-2032
Table 3: Global: Specialty Spirits Market Forecast: Breakup by Distribution Channel (in Million US$), 2024-2032
Table 4: Global: Specialty Spirits Market Forecast: Breakup by Region (in Million US$), 2024-2032
Table 5: Global: Specialty Spirits Market: Competitive Structure
Table 6: Global: Specialty Spirits Market: Key Players
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