The new report by Expert Market Research titled, ‘Global Dark Spirits Market Size, Share, Growth, Analysis, Report and Forecast 2024-2032’, gives an in-depth analysis of the global dark spirits market, assessing the market based on its segments like major types, distribution channels, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2032)
- Forecast CAGR (2024-2032): 6.5%
Within the worldwide dark spirits sector, Asia Pacific grew at a rapid pace and is anticipated to continue to do so in the coming years. The Asia Pacific market is being boosted by the healthy production of dark spirits in rising Asian countries such as India.
Furthermore, the premium sector has seen a noticeable increase in demand over the last several years, as many customers develop their taste in the premium part, which offers unique and traditional experiences, as their spending power increases. The dark spirits sector in the Asia Pacific is predicted to grow strongly over the forecast period, owing to growing urbanisation and rising consumer disposable incomes.
Dark Spirits Industry Definition and Major Segments
Liquors with a darker appearance are known as “dark spirits”. Like clear spirits, all distilled liquors start out clear but ultimately darken. This could be because they were aged in barrels or caramel was added to keep the golden amber colour.
Wine or a mash of any fruit, particularly grapes, is used to make brandy. In the meanwhile, barley, corn, rye, and wheat are used to make whiskey. Rum, on the other hand, is made from sugarcane juice, molasses, and other by-products. To complete the process, the base is combined with yeast and water.
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The major types of dark spirits are as follows:
- Whiskey
- Rum
- Brandy
The market can be broadly categorised on the basis of its distribution channel into:
- On-Trade
- Off-Trade
The EMR report looks into the regional markets of dark spirits like:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Dark Spirits Market Trends
The industry is growing due to an increase in demand for craft spirits among millennials and baby boomers in both developed and emerging countries. Throughout history, there has been an increase in spirit tourism, which has aided the establishment of the global market for evil spirits. The market is being further catalysed with the launch of new product varieties that fulfil customer expectations due to increased awareness and concern among consumers regarding the clean labels, organic, natural, additives-free, and GMO-free alcohol, including dark spirits. The dark spirits business has benefited from the rapid growth of online groceries and delivery services.
Key Market Players
The major players in the market are Anheuser-Busch InBev SA/NV, Asahi Group Holdings, Ltd., Kirin Brewery Company, Limited, Suntory Holdings Limited, and Diageo Plc. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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