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The Global Vodka Market size is projected to increase by 422.1 million L, exhibiting a CAGR of 2.49% between 2022 and 2027. In 2017 the size of the market was valued at 3,042.17 million L.
This vodka market report extensively covers market segmentation by distribution channel (off-trade and on-trade), price (premium and value), product (unflavored and flavored), and geography (Europe, North America, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges.
Increased demand for flavored vodka is a major driver for the growth of the vodka market during the forecast period. The increased desire for small-batch, handcrafted vodka with distinct flavor characteristics fuels the growth of the vodka sector. For instance, Deep Eddy Vodka, a brand of Heaven Hill Brands, an American-made and family-owned spirits company, provides a variety of flavored vodkas, such as sweet tea vodka, cranberry vodka, lemon vodka, peach vodka, and orange vodka. Owing to the rising demand, the number of craft distilleries and spirit manufacturers producing vodka has increased. The global market is likely to grow due to the increasing popularity of flavored vodka among millennials and women. A majority of consumers define themselves as creative and unique and are open to experimenting with new products and flavors.
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Our researchers analyzed the data with 2022 as the base year, along with the key trends, and challenges. A holistic analysis of drivers, trends, and challenges will help stakeholders in the value chain refine their marketing strategies to gain a competitive advantage.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Vodka Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The vodka market report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the off-trade segment will be significant during the forecast period. This segment includes supermarkets, hypermarkets, specialty stores, and other retail formats such as online sales. Supermarkets and hypermarkets usually have dedicated sections to store alcoholic beverages, including vodka.
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The off-trade segment was valued at 1,632.43 million L in 2017 and continued to grow until 2021. Supermarkets and hypermarkets maintain a huge stock of products from various brands, such as Grey Goose, Belvedere, Ciroc, Absolut Elyx, Ketel One, and Stolichnaya Elit. Consumers find this convenient because it offers a wide range of options, including vodka in different flavors. Thus, the sales of alcohol through supermarkets and hypermarkets are expected to increase during the forecast period due to the opening of new supermarkets and hypermarkets. Therefore, the sale of vodka through the off-trade channel is expected to increase during the forecast period.
Unflavored vodka, also known as absolute vodka, is a neutral and colorless spirit that lacks any distinct aroma or taste. However, premium unflavored vodkas are served without any mixers and possess a subtle flavor. It is commonly used by bartenders in the on-trade distribution channel to craft various cocktails based on consumer preferences. To promote off-trade sales, vendors are now offering gluten-free options in unflavored vodka, with many obtaining certification from the Gluten Intolerance Group (GIG) to ensure their products meet the standard. Overall, the unflavored vodka segment is expected to experience continuous growth in the forecast period due to factors such as increasing disposable incomes, the growing popularity of cocktails and mixed drinks, and the rising demand for premium and super-premium spirits.
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APAC is estimated to contribute 32% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The Philippines, India, Japan, Pakistan, China, Australia, Indonesia, South Korea, Malaysia, and Taiwan are the major markets for craft vodka in the region. A majority of the local and regional vendors operating in the region manufacture low-cost products, thus intensifying the competition among global players. This, in turn, creates unhealthy price-based competition. For instance, grocery stores can sell alcohol before 8 pm on weekdays and before 6 pm on Saturdays but cannot sell alcohol on Sundays. Various regulations associated with the alcoholic beverages industry mandate the use and sales of alcohol corresponding to various factors, such as the legal drinking age, the license to operate a restaurant, the sales of alcohol, and taxation policies, in Germany.
This market report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. The outbreak of COVID-19 in 2019 reduced the sales of vodka in the region, as brewing units were closed to control the spread of the disease. In 2021, lockdown restrictions were lifted in the region. This resulted in the resumption of operations in pubs, bars, and restaurants with a limited regional workforce. In addition, an increase in the demand for vodka flavors such as orange in the region is expected to further drive the growth of the vodka market in during the forecast period.
The vodka market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Vodka Market Scope |
|
Report Coverage |
Details |
Page number |
161 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 2.49% |
Market growth 2023-2027 |
422.1 million L |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
1.57 |
Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
Performing market contribution |
APAC at 32% |
Key countries |
US, Canada, UK, Russia, and Brazil |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
44 North Vodka, 619 Spirits North Park, Abtshof Magdeburg GmbH, Alcobrew Distilleries India Ltd., Alcohol Siberian Group Ltd., Bacardi Ltd., Bainbridge Organic Distillers, Becle SAB de CV, Beluga Group, BrewDog Plc, Brown Forman Corp., Campari Group, Candella Micro Distillery, Cardinal Spirits, Charbay Distillery, Constellation Brands Inc., Diageo Plc, Eastside Distilling Inc., Highland Liquor Co. Ltd., and Beam Suntory Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Distribution Channel
6 Market Segmentation by Price
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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