Craft Vodka Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Craft Vodka Market Analysis
The global craft vodka market is projected to register a CAGR of 5.0% during the forecast period (2019-2024).
- The market is mainly driven by the increasing demand for vodka and the frequent launches of newly formulated products, such as gluten-free different flavored craft vodkas in the market by the key players. However, in the room of high demand of the product, factors restraining the market is the volatility of raw material prices that are used for the manufacturing of craft vodka.
- Geographically, North America is dominating the market, followed by Europe and Asia-Pacific, owing to the production concentration and demand for craft vodka. In terms of countries, Australia has witnessed a rapid growth in the number of craft distilleries.
Craft Vodka Market Trends
This section covers the major market trends shaping the Craft Vodka Market according to our research experts:
Increased demand for flavored vodka
The change in taste and the growing demand for small batch, handcrafted vodka with unique flavor profiles is contributing to the growth of the craft vodka market. For instance, Deep Eddy Vodka, a brand of Heaven Hill Brands, an American-made and family-owned spirits brand offers a wide range of flavored vodka including sweet tea vodka, cranberry vodka, lemon vodka, peach vodka, orange vodka and many more. The increased demand has therefore resulted into increased number of craft distilleries and spirit producers manufacturing craft vodkas. As per data revealed by TTB (Alcohol and Tobacco Tax and Trade Bureau), the number of craft spirit producers showed an increasing trend in the period 2013 to 2017.
North America to drive the market
North American countries, especially United States holds the largest share owing growing demand for craft spirits among the consumers and the rising number of craft distilleries around the region with frequent product launches. Also, rising number of craft distillers in the region further along with rising demand for ethnic premium, super-premium vodkas and flavored vodkas, which include the craft and artisanal varieties, has increased among consumers, prompting several countries to import the same has further fueled the craft vodka market growth in the region. Also, frequent number of product launches by the regional players are subsequently driving the market.
Craft Vodka Industry Overview
The global market for craft vodka is fragmented, owing to the presence of large regional and domestic players in different countries. Emphasis is given on the merger, expansion, acquisition and partnership of the companies along with new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers.
Craft Vodka Market Leaders
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Sazerac Company
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Beam Suntory Inc.
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William Grant & Sons Limited
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Fifth Generation, Inc.- Tito’s Handmade Vodka
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Diageo plc-The Smirnoff Co.
*Disclaimer: Major Players sorted in no particular order
Craft Vodka Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Drivers
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4.2 Market Restraints
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4.3 Porter's Five Forces Analysis
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4.3.1 Bargaining Power of Suppliers
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4.3.2 Bargaining Power of Buyers/Consumers
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4.3.3 Threat of New Entrants
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4.3.4 Threat of Substitute Products
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4.3.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 Type
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5.1.1 Flavored craft vodka
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5.1.2 Unflavored craft vodka
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5.2 Distribution Channel
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5.2.1 On-trade channel
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5.2.2 Off-trade channel
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5.3 Geography
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5.3.1 North America
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5.3.1.1 United States
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5.3.1.2 Canada
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5.3.1.3 Mexico
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5.3.1.4 Rest of North America
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5.3.2 Europe
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5.3.2.1 Spain
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5.3.2.2 United Kingdom
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5.3.2.3 Germany
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5.3.2.4 France
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5.3.2.5 Italy
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5.3.2.6 Russia
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5.3.2.7 Rest of Europe
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5.3.3 Asia Pacific
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5.3.3.1 China
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5.3.3.2 Japan
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5.3.3.3 India
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5.3.3.4 Australia
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5.3.3.5 Rest of Asia-Pacific
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5.3.4 South America
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5.3.4.1 Brazil
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5.3.4.2 Argentina
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5.3.4.3 Rest of South America
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5.3.5 Middle East and Africa
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5.3.5.1 South Africa
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5.3.5.2 Rest of Middle East and Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Most Adopted Strategies
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6.2 Market Share Analysis
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6.3 Company Profiles
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6.3.1 Sazerac Company
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6.3.2 Beam Suntory Inc.
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6.3.3 William Grant & Sons Limited
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6.3.4 Fifth Generation, Inc.- Tito's Handmade Vodka
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6.3.5 Diageo plc-The Smirnoff Co.
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6.3.6 Heaven Hill Brands
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6.3.7 St. George Spirits
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Craft Vodka Industry Segmentation
Global craft vodka market has been segmented by type into flavored and unflavored craft vodka; and by distribution channel into On-trade channels and Off-trade channels.Also, the study provides an analysis of the craft vodkamarket in the emerging and established markets across the globe, including North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
| Type | |
| Flavored craft vodka | |
| Unflavored craft vodka |
| Distribution Channel | |
| On-trade channel | |
| Off-trade channel |
| Geography | |||||||||
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Craft Vodka Market Research FAQs
What is the current Global Craft Vodka Market size?
The Global Craft Vodka Market is projected to register a CAGR of 5% during the forecast period (2024-2029)
Who are the key players in Global Craft Vodka Market?
Sazerac Company, Beam Suntory Inc., William Grant & Sons Limited, Fifth Generation, Inc.- Tito’s Handmade Vodka and Diageo plc-The Smirnoff Co. are the major companies operating in the Global Craft Vodka Market.
Which is the fastest growing region in Global Craft Vodka Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Craft Vodka Market?
In 2024, the North America accounts for the largest market share in Global Craft Vodka Market.
What years does this Global Craft Vodka Market cover?
The report covers the Global Craft Vodka Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Craft Vodka Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Craft Vodka Industry Report
Statistics for the 2024 Craft Vodka market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Craft Vodka analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
