Craft Spirits: Distilling the Facts Behind the Buzz

  • ID: 4082722
  • Report
  • Region: Global
  • 44 pages
  • Euromonitor International
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Craft spirits are becoming increasingly widespread across a range of markets as interest for artisanal products grows in the wake of shifting lifestyle trends. But just how big is the craft spirits market? And what are the challenges facing craft producers, and the spirits industry as a whole? We explore the key issues impacting the craft spirits market, not least by trying to better understand what ‘craft’ actually means, while also exploring the parallels and divergences with craft beer.

The publisher's Craft Spirits: Distilling the Facts Behind the Buzz global briefing offers an insight into to the size and shape of the Alcoholic Drinks market in both the off-trade and the on-trade, it highlights buzz topics, emerging geographies, categories and trends as well as pressing industry issues and white spaces. It identifies the leading companies and brands by total volume, offers strategic analysis of key factors influencing the market - be they new product developments, packaging innovations, economic/lifestyle influences, distribution or pricing issues. Forecasts illustrate how the market is set to change and criteria for success.

Product coverage: Beer, Cider/Perry, RTDs/High-Strength Premixes, Spirits, Wine.

Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.

Why buy this report?
  • Get a detailed picture of the Alcoholic Drinks market;
  • Pinpoint growth sectors and identify factors driving change;
  • Understand the competitive environment, the market’s major players and leading brands;
  • Use five-year forecasts to assess how the market is predicted to develop.
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Craft Spirits: Distilling the Facts Behind the Buzz

Introduction
What are Craft Spirits?
Which Factors Helped Craft Spirits to Develop?
Where are Craft Spirits Most Prominent?
How will Craft Spirits Evolve?
Report Definitions
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Definitional issues remain a challenge

There is no universally agreed upon definition for “craft”. In the US, the Brewers Association has specific requirements that must be fulfilled to be included in its craft brewer category, but debate around the importance of size, ownership and ingredients continues. There is even less clarity elsewhere in the world.

The rise of microbrewers is linked to premiumisation…

A combination of aspirational consumption and a desire for quality is driving consumers across much of the world to drink less, but drink better. The rise of microbrewers broadly aligns with this trend.

…but the craft trend goes beyond taste and quality.

The consumer search for more flavourful beers is an important driver behind the rise of craft, but the trend goes beyond this. Notions of localisation, authenticity and heritage play a key role, as does a desire to avoid what is seen as the established mainstream.

US performance: The end of the beginning?

Craft beer growth in the US is starting to decelerate. While this is inevitable to some extent, the speed and severity of the decline is a warning sign that the initial explosive growth period may be coming to an end. While craft is not going anywhere, the number of microbrewers in operation seems highly unsustainable.

Geographic expansion continues

While US growth slows, microbreweries are opening across the world as interest in craftsmanship in beer is reaching more and more markets, among younger consumers in particular. Local elements are adding a twist to classic styles.

Mixed potential outside beer

Attempts at imitation are, understandably, seeing the most success in categories closely related to beer - cider and hard soda. While there are opportunities in soft drinks, growing health consciousness will add extra challenges.

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