Another Round: Industry Demand Will Likely US Sustained By Growing Interest From Younger Consumers
Distilleries in the US
Premiumization has defined the Distilleries industry's growth over the past five years, with consumers opting for higher-quality, higher-priced spirits even amid economic downturns. A shift in consumer preferences toward craft and artisanal spirits has fueled growth in new distilleries and encouraged merger and acquisition activity among major producers that seek to expand product portfolios. Mounting competition from imports and disruptions caused by the COVID-19 pandemic have mitigated revenue growth during the period. Over the five years to 2023, industry revenue has increased at a CAGR of 3.4% to $18.8 billion, including a 0.1% decline in 2023.This industry consists of operators engaged in distilling spirits (i.e. not beer or wine). Operators’ three main activities are engaged in distilling potable liquors (except brandies), blending liquors and mixing liquors with other ingredients. These spirits are then bottled and sold primarily to liquor wholesalers, as well as to other retail stores.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Table of Contents
ABOUT THIS INDUSTRY
INDUSTRY PERFORMANCE
PRODUCTS & MARKETS
COMPETITIVE LANDSCAPE
OPERATING CONDITIONS
KEY STATISTICS
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Diageo Plc
- Brown-Forman Corporation
- Sazerac Company, Inc.
- Beam Suntory Inc.
Methodology
LOADING...