Global Vodka Market

Vodka Market Size, Share, Growth Analysis, By Type(Flavored, non-flavored), By Quality(Ultra-premium, super-premium) - Industry Forecast 2024-2031


Report ID: SQSG30F2009 | Region: Global | Published Date: July, 2001
Pages: 157 | Tables: 63 | Figures: 75

Vodka Market Insights

Vodka Market size was valued at USD 11.63 billion in 2019 and is poised to grow from USD 12.99 billion in 2023 to USD 31.09 billion by 2031, growing at a CAGR of 11.52% in the forecast period (2024-2031).

Vodka is typically made from fermented potatoes and grain and has a standard alcohol content of 40% ABV. It is made up of ethanol and water. Growing demand for cocktails in both developed and developing countries is a major factor driving the global vodka market's expansion. Furthermore, rapidly changing lifestyles and growing urbanization, combined with their high disposable income, are propelling the global vodka market forward. Furthermore, rising demand for fruit-based and healthy vodka is expected to drive the global vodka market forward. Growing cocktail culture among consumers and increasing demand for premium vodka across the globe are likely to propel the vodka market.

Increasing investment from major player to acquire superior quality blueberry vodka products is propelling market growth. Major players are obtaining high-quality crushed ruby red grapefruit cocktails. Growing global demand for organic infusions of white spirits is propelling the industry forward. Furthermore, premium brands are focusing on introducing flavored vodkas that are both delicious and crispy in taste and have quickly gained popularity.

US Vodka Market  is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2024-2031

Global Market Size

USD 11.63 billion

Largest Segment

Flavored

Fastest Growth

Flavored

Growth Rate

11.52% CAGR

Global Vodka Market ($ Bn)
Country Share for North America Region (%)
Global Vodka Market By Type ($ Bn)
Global Vodka Market By Type (%)

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Vodka Market Segmental Analysis

Global vodka market is segmented based on type, quality, and region. Based on type, it is segment into flavored and non-flavored. Based on quality, it is segmented into Ultra-premium, super-premium, premium, and standard. Based on region, Vodka Market is segmented into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa.

Vodka Market Analysis by Type

In 2021, the flavored segment contributed the most revenue to the global market. The flavored segment includes cherry cola, cherry limeade slash, and the bitter raz with a special strawberry-lemonade vodka. Cucumber lime-flavored spirits are gaining popularity, which will drive market growth in the coming years. The rising demand for a fuzzy mule to aid digestion will boost sales of the flavored segment during the forecast period.

The non-flavored segment will grow the most during the forecast period. This is due to increased demand for Grainger's deluxe organic vodka in Europe. In Russia, the Kozuba & Sons Starkus Vodka is a rising trend to meet the demand for unflavored white spirits. During the assessment period, gluten-free vodka will increase non-flavored segment sales.

Vodka Market Analysis by Quality

Ultra-premium is the dominating segment in the global vodka market with more than 30% of the market share with brands like Smirnoff, Russian Standard, Absolute, and Grey goose producing ultra-premium vodkas which are of high quality for selected consumers who can afford such products. The super-premium and premium segment is running products in urban cities which are used in restaurants, pubs, bars, and lounges. Pricing of premium and super-premium are moderate to high. Standard vodka has a low price and compromised quality which is targeted at the low-income population.

Global Vodka Market By Type, 2019 (%)

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Vodka Market Regional Insights

North America dominated the global market due to increased demand for Heritage 176 vodka in the United States and Canada, accounting for more than 35% of the market share in 2021. The rising consumption of flavored vodkas such as Sun-Ripened Watermelon, Blood Orange, Bartlett Pear, and Texas Grapefruit is driving the US market share. The growing popularity of tangy cherry and limeade vodka flavors with a sweet citrus fusion in Canada will drive industry growth. Alcoholic beverages such as Pyat Ozar, Svedka, and Hlibny Dar will contribute to market expansion. Furthermore, the Government of Canada's support to improve the distribution channel of premium white spirits is expected to boost the market growth.

From 2022 to 2028, Asia Pacific is expected to grow at a 6.4% CAGR. This can be attributed to emerging economies such as China and India increasing their demand for agave-based non-flavored vodka products in order to meet the demand for white spirits. The growing trend in China of drinking vodka flavored with mint and mixed with a bright blend of lemonade is propelling market growth. The rising popularity of flavored vodka soda in India is expected to grow at the fastest rate during the forecast period.

 

Global Vodka Market By Region, 2024-2031
  • Largest
  • Fastest

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Vodka Market Dynamics

Vodka Market Drivers

  • With the rising demand for alcoholic beverages and cocktail drinks in millennials and working professionals in urban cities, tremendous growth has been seen in the alcohol industry especially in the vodka segment. Drinks have a status symbol in terms of socializing formally or professionally.
  • Vodka has taken the market by storm due to various preferences of usage in raw or in cocktails which has a large variety and trending in young crowd, Premium Brands are coming up with flavoured vodkas which are tasty on the taste palette and have become very popular in a short time. Brands like Smirnoff, Absolute, and Russian Standards have various flavours like Coffee, Chocolate, Apple, Orange, and peach.

Vodka Market Restraint

  • Growing popularity of craft beer among consumers, as well as the availability of alternatives in the market, are expected to limit the growth of the global vodka market. Furthermore, the government's stringent regulations and heavy taxation are impeding the growth of the global vodka market.

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Vodka Market Competitive Landscape

The main focus of the companies is to launch white spirits with natural ingredients and authenticity to meet the rising demand for Vodka. The major players are focusing on preserving the less bitter taste of white spirits in various flavored formats. Absolut Vodka, according to the survey, is updating its flavor portfolio as it enters its next phase of innovation. Absolut Passionfruit, an exotic flavor from the Absolut range, is now available in Australia and the United Kingdom. However, expanding offline sales methodologies with advanced technology comes with its own set of challenges and limitations. Several companies are aiming to expand and launch premium flavored vodka products in the market.

Top Players in the Global Vodka Market

  • Absolut Vodka
  • Belvedere Vodka
  • Cîroc Vodka
  • Crystal Head Vodka
  • Grey Goose Vodka
  • Ketel One Vodka
  • Khortytsa Vodka
  • Luksusowa Vodka
  • Nemiroff Vodka
  • Pinnacle Vodka
  • Reyka Vodka
  • Russian Standard Vodka
  • Skyy Vodka
  • Smirnoff Vodka
  • Stolichnaya Vodka
  • Svedka Vodka
  • Tito's Handmade Vodka
  • Ultimat Vodka
  • Van Gogh Vodka
  • Wyborowa Vodka

Vodka Market Recent Developments

  • September 23, 2021, Paris, France-based well-known pastis aperitifs manufacturing company “Pernod Ricard” publicized the successful acquisition of UK-based recognized online seller of fine spirits “The Whiskey Exchange” Pernod revealed that the fundamental reason behind this acquisition is to strengthen online sales portfolio.
  • August 17, 2020, UK-based beverage alcohol company “Diageo” announced that the company has added American Aviation Gin, a gin brand to its portfolio through the successful acquisition of the US-based company “Aviation Gin LLC.” Diageo made a total payment of $610 million in order to wrap up the acquisition process.
  • February 28, 2020, Sesto San Giovanni, Italy-based spirit and wine-producing company “Davide Campari-Milano” announced that it has successfully acquired its France-based distributor “Baron Philippe de Rothschild.” A payment of 60 million euros to bring the acquisition to a close. Also, the acquisition has extended several business benefits to the company as France is one of its core business markets.

Vodka Key Market Trends

  • The main focus of the company is launching white spirits with natural ingredients and authenticity to meet the rising demand for Vodka. Major key players are focus to maintain the less bitter taste of the white spirits in several flavoured format. Absolute Vodka is updating its flavour portfolio as it begins its next phase of innovation. However, expanding the offline sales methodologies with the help of advanced technology has its unique challenges and limitations. Multiple companies are targeting the expansion and launches of premium flavoured vodka products in the market.

Vodka Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

According to our analysis, increased alcohol consumption and sweep modernization are said to be major factors driving the growth of the global vodka market. Growing cocktail culture among consumers and increasing demand for premium vodka across the globe are likely to serve as a factor in the forecast period for the vodka market. Rigid government policies and a preference for low-alcohol-by-volume drinks are expected to limit market growth.

Report Metric Details
Market size value in 2019 USD 11.63 billion
Market size value in 2031 USD 31.09 billion
Growth Rate 11.52%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • Flavored, non-flavored
  • Quality
    • Ultra-premium, super-premium, premium, standard
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Absolut Vodka
  • Belvedere Vodka
  • Cîroc Vodka
  • Crystal Head Vodka
  • Grey Goose Vodka
  • Ketel One Vodka
  • Khortytsa Vodka
  • Luksusowa Vodka
  • Nemiroff Vodka
  • Pinnacle Vodka
  • Reyka Vodka
  • Russian Standard Vodka
  • Skyy Vodka
  • Smirnoff Vodka
  • Stolichnaya Vodka
  • Svedka Vodka
  • Tito's Handmade Vodka
  • Ultimat Vodka
  • Van Gogh Vodka
  • Wyborowa Vodka
Customization scope

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Vodka Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Vodka Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Vodka Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Vodka Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Vodka Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Vodka Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Vodka Market size was valued at USD 11.63 billion in 2019 and is poised to grow from USD 12.99 billion in 2023 to USD 31.09 billion by 2031, growing at a CAGR of 11.52% in the forecast period (2024-2031).

The main focus of the companies is to launch white spirits with natural ingredients and authenticity to meet the rising demand for Vodka. The major players are focusing on preserving the less bitter taste of white spirits in various flavored formats. Absolut Vodka, according to the survey, is updating its flavor portfolio as it enters its next phase of innovation. Absolut Passionfruit, an exotic flavor from the Absolut range, is now available in Australia and the United Kingdom. However, expanding offline sales methodologies with advanced technology comes with its own set of challenges and limitations. Several companies are aiming to expand and launch premium flavored vodka products in the market. 'Absolut Vodka', 'Belvedere Vodka', 'Cîroc Vodka', 'Crystal Head Vodka', 'Grey Goose Vodka', 'Ketel One Vodka', 'Khortytsa Vodka', 'Luksusowa Vodka', 'Nemiroff Vodka', 'Pinnacle Vodka', 'Reyka Vodka', 'Russian Standard Vodka', 'Skyy Vodka', 'Smirnoff Vodka', 'Stolichnaya Vodka', 'Svedka Vodka', 'Tito's Handmade Vodka', 'Ultimat Vodka', 'Van Gogh Vodka', 'Wyborowa Vodka'

With the rising demand for alcoholic beverages and cocktail drinks in millennials and working professionals in urban cities, tremendous growth has been seen in the alcohol industry especially in the vodka segment. Drinks have a status symbol in terms of socializing formally or professionally.

The main focus of the company is launching white spirits with natural ingredients and authenticity to meet the rising demand for Vodka. Major key players are focus to maintain the less bitter taste of the white spirits in several flavoured format. Absolute Vodka is updating its flavour portfolio as it begins its next phase of innovation. However, expanding the offline sales methodologies with the help of advanced technology has its unique challenges and limitations. Multiple companies are targeting the expansion and launches of premium flavoured vodka products in the market.

North America dominated the market due to increased demand for Heritage 176 vodka in the United States and Canada, accounting for more than 35% of the market share in 2021. The rising consumption of flavored vodkas such as Sun-Ripened Watermelon, Blood Orange, Bartlett Pear, and Texas Grapefruit is driving the US market share. The growing popularity of tangy cherry and limeade vodka flavors with a sweet citrus fusion in Canada will drive industry growth. Alcoholic beverages such as Pyat Ozar, Svedka, and Hlibny Dar will contribute to market expansion. Furthermore, the Government of Canada's support to improve the distribution channel of premium white spirits is expected to boost the market growth.

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Global Vodka Market

Product ID: SQSG30F2009

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