Vodka Market size is expected to reach USD 52.39 billion by 2028

 Vodka Industry Overview

The global vodka market size is expected to reach USD 52.39 billion by 2028, registering a CAGR of 5.5% in the forecast period, according to a new report by Grand View Research, Inc. This can be credited to the rising consumption of fruit-flavored cocktails among developed countries such as the U.S. and UK. The popular trend of raspberry vodka in Europe is further anticipated to boost the market growth over the assessment period. Factors such as growth in the food and beverage industry, increasing social media and internet penetration, and improvement in distribution and retail channels are contributing to the market growth.

 

Vodka Market Report Segmentation

Grand View Research has segmented the vodka market on the basis of type, end-use, and distribution channel, and region.

 

Based on the Type Insights, the market is segmented into Flavored and Non-Flavored

  • The flavored segment contributed to the highest share ofof0% in the global market revenue in 2021. The flavored segment is offering a great variety of cherry cola, cherry limeade slash, and the bitter raz with a special type of strawberry-lemonade vodka.
  • The non-Flavored segment will register the highest growth in the forecast period. This can be credited to the growing demand for Grainger's deluxe organic vodka in Europe. The Kozuba & Sons Starkus Vodka is the rising trend in Russia to fulfill the demand for non-flavored white spirits. The gluten-free vodka will raise the sales of the non-flavored segment during the assessment period.

 

Based on the Distribution Channel Insights, the market is segmented into Offline Trading and Online Trading

  • Offline trading contributed share of more than 75% in the global market revenue in 2021. The offline trading includes several suppliers such as supermarkets, liquor stores, specialty stores, and pubs, bars & restaurants. The domestic restaurants are providing variety of white spirits at a reasonable cost which in turn will propel the segmental growth. The rising adoption of drinking practices in Asia Pacific will further propel the market growth.
  • The online trading segment is projected to register the fastest growth during the forecast timeline. This growth is owing to the increased focus of retailers to adopt internet retailing to sustain business with the help of modern trade technology. The increasing demand for value-added white spirit products through online marketing is contributing to the growth of the vodka market. The supportive measures from the government of the U.S. to roll-out the digital payment is refueling the segmental growth.

 

Vodka Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East & Africa

 

Key Companies Profile & Market Share Insights

Companies' main focus is to launch the white spirits with natural ingredients and authenticity to meet the rising demand for Vodka. The major key players are focusing to maintain the less bitter taste of the white spirits in several flavored format. As per the survey, Absolut Vodka is updating its flavor portfolio as it begins its next phase of innovation. 

 Some prominent players in the global vodka market are as follows: -

  • Brown-Forman
  • Diageo
  • Pernod Ricard
  • Belvedere
  • Russian Standard, Bacardi
  • Constellation Brands Inc
  • Proximo Spirits
  • Distell Group,
  • Savor Stoli
  • IceBerg Vodka

 

Order a free sample PDF of the Vodka Market Intelligence Study, published by Grand View Research. 

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