Global Vodka Market

Global 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: February, 2024
Pages: 157 | Tables: 63 | Figures: 75

Global Vodka Market News

  • 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.
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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 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.

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