USD 60.44 billion
Dark Spirits Market Size, Share, Growth Analysis, By Type(Whiskey and Rum), By Distribution Channel(Online trade channels and Offline trade channels), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG30F2018 |
Region:
Global |
Published Date: April, 2024
Pages:
198
|Tables:
59
|Figures:
78
Dark Spirits Market Insights
Dark Spirits Market size was valued at USD 66.18 Billion in 2023 and is poised to grow from USD 72.47 Billion in 2024 to USD 149.79 Billion by 2032, growing at a CAGR of 9.5% during the forecast period (2025-2032).
The global dark spirits market is growing at an exponential rate, primarily driven by the rise of dark spirits in emerging markets such as China and India. The rise of Scotch whiskey and the rise of rum-based spirits across the globe and drive the growth of the market during the forecast period. Key factors expected the tremendous growth in the global food and beverage industry is also a key contributor to the positive outlook of the dark spirit market. In particular, it is expected that the US. the market for dark spirits will take off, and it has an incredibly large market by the way. This growth is attributed to factors such as increased acceptance of new exotic flavors of craft spirits, increased demand for luxury spirit products, and a growing trend towards premium craft spirits especially among millennials the market for dark spirits has boomed. The demand for unique spirits is growing in the US and the U.K.
Despite the right strategy, the market faces challenges, including the growing trend towards non-alcoholic beverage consumption, which may restrain the market growth but is an emerging opportunity if high-end spirits demand increasingly inexpensive. Key players in the industry are reacting to these trends by focusing on launching e-commerce initiatives to tap into favorite ghost brands. Consequently, the spirits market is expected to grow significantly during the forecast period. Emerging markets like India dominate the production of dark spirits, but the demand for premium products has risen sharply. Consumers, especially increasingly budget and urban, are enjoying premium dark spirits that offer a unique and authentic experience. An increasing number of breweries, bars, and breweries offering alcoholic beverages has had a positive market impact in developed and emerging markets. Sum spirits market growth is driven by high taxes on spirits, especially whiskey, which is a challenge and affects consumer purchasing decisions, creating pressure that evil comes to the market.
Additionally, the market is growing due to investments by key individuals in the US to increase the availability of high-quality rum products. Responding to the rapidly growing European demand for new inspired spirits, key players in the market purchase valuable spirits with unique flavors. Besides, reports of health benefits of moderate consumption of dark spirits, such as pain relief, and antioxidant properties, increased bone mineral density and temperature, in general, contribute to positive market growth.
US Dark Spirits Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Offline
Fastest Growth
Online
Growth Rate
9.5% CAGR
Global Dark Spirits Market ($ Bn)
Country Share for North America Region (%)
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Dark Spirits Market Segmental Analysis
The Global Dark Spirits market is segmented by, type, and distribution channel. Based on type, the market can be segmented whiskey and rum. Based on distribution channel, the market is segmented into online trade and offline trade channels. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Dark Spirits Market Analysis by Type
By type, the market can be segmented into whiskey and rum. Whiskey is the dominant segment of the dark spirits market, accounting for the majority of sales revenue. The global whiskey market is driven by its popularity in mature markets such as the United States, Europe, and Japan, where consumers have a strong affinity for premium whiskey brands. The premium and super-premium segments of the whiskey market are seeing the fastest growth, as consumers with higher incomes are willing to spend more on high-quality spirits.
Rum, on the other hand, is a growing segment in the dark spirits market, particularly in Latin America and the Caribbean. The region is the largest producer and consumer of rum globally, with countries such as Cuba, Puerto Rico, and the Dominican Republic accounting for a significant share of global production. The global rum market is expected to grow at a moderate pace in the coming years, driven by increasing consumer interest in premium and aged rums, as well as the rising popularity of rum-based cocktails in the on-trade channel.
Dark Spirits Market Analysis by Distribution Channel
By distribution channel, the market can be segmented into online trade channels and offline trade channels. Offline trade is dominating the market with several suppliers, including liquor stores, eateries, bars, pubs, supermarkets, and specialised shops, are a part of offline trading. In order to provide consumers with enjoyable experiences, dark spirits are frequently supplied in restaurants, bars, and pubs. These spirits are also combined with interestingly flavoured juices and sparkling water. Domestic providers are offering a wide range of spirits at reduced prices, which will accelerate the segment's growth. The rise in drinking habits and the greater leaning towards western culture will fuel market expansion.
On other hand, the online trading segment is expected to fastest growing over the forecasted period. This development can be attributed to the distributors' increased attention on implementing contemporary business technologies for door-step delivery. Also, to raise brand awareness among consumers, businesses and merchants run online promotional campaigns on a variety of social media platforms. The factors driving the market expansion include rising demand for super-premium spirit products through e-commerce portals as well as supportive government initiatives to meet the need for alcoholic drinks through an online platform.
Global Dark Spirits Market By Distribution Channel
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Dark Spirits Market Regional Insights
North America dominated the global dark spirits market, with the United States accounting for a significant share of global sales revenue. The region's dominance can be attributed to the popularity of whiskey in the US, which is the largest market for whiskey globally. The premiumization trend is also prevalent in North America, with consumers willing to pay more for high-quality spirits.
APAC is expected to be the fastest growing region in the dark spirits market due to the rising disposable incomes and changing consumer preferences in countries such as China and India. The region has a large population of young and affluent consumers who are increasingly interested in premium and imported spirits. In addition, the growth of e-commerce platforms has made it easier for consumers in the region to purchase dark spirits online.
Global Dark Spirits Market By Region
- Largest
- Fastest
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Dark Spirits Market Dynamics
Dark Spirits Market Drivers
Increasing popularity of premium and super-premium segments
- One key driver of growth in the global dark spirits market is the increasing popularity of premium and super-premium segments, as consumers with higher incomes are willing to spend more on high-quality spirits. This trend is particularly pronounced in mature markets such as the United States, Europe, and Japan, where consumers have a strong affinity for premium whiskey brands. As a result, producers in the dark spirits market are investing in innovation and marketing to capitalize on this trend and meet the changing needs and preferences of consumers.
Dark Spirits Market Restraints
Increasing competition from other alcoholic beverages
- One major restraint facing the global dark spirits market is the increasing competition from other alcoholic beverages such as beer and wine. Consumers are becoming more health-conscious and are seeking out lower-calorie and lower-alcohol options, which has led to a decline in overall alcohol consumption. This trend is particularly prevalent among younger consumers, who are more likely to experiment with new and innovative products. As a result, dark spirits producers may need to invest in product innovation and marketing to capture the attention of these consumers and maintain market share in an increasingly competitive landscape.
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Dark Spirits Market Competitive Landscape
The global dark spirits market is highly competitive, with a large number of established and emerging players competing for market share. Key competitive factors in the market include product innovation, quality, price, distribution channels, and marketing and advertising strategies. In addition, mergers and acquisitions, partnerships, and collaborations are common strategies employed by companies in the market to expand their presence and gain a competitive advantage. Producers are also investing in sustainable and eco-friendly practices to meet the growing demand for environmentally conscious products among consumers.
Dark Spirits Market Top Player’s Company Profiles
- Diageo plc
- Pernod Ricard SA
- Bacardi Limited
- Brown-Forman Corporation
- Beam Suntory Inc.
- William Grant & Sons Ltd.
- Campari Group
- Rémy Cointreau SA
- The Edrington Group Limited
- Heaven Hill Brands
- Sazerac Company
- Lucas Bols BV
- Stock Spirits Group PLC
- Mast-Jägermeister SE
- Branca International S.p.A.
- Berry Bros. & Rudd
- John Distilleries Pvt Ltd
- St. George Spirits, Inc.
- Distell Group Limited
- Altia Oyj
Dark Spirits Market Recent Developments
- In April 2024, United Spirits, a prominent player in the alcohol beverage industry, took a significant step towards diversification by acquiring a 15% stake in Inspired Hospitality, the parent company of Pistola, for Rs 5.65 crore. This strategic move aims to solidify United Spirits' presence in the premium craft segment.
- In February 2024, Australian online alcohol retailer Hairydog merged with specialist whisky site Barrel & Batch, relaunching under the Barrel & Batch name with hopes to expand its curated offering of quality whisky, wine and premium spirits.
- In December 2023, Bacardi strengthened dark spirits range with Teeling. The news followed Bacardi’s decision to increase its stake in The Teeling Whiskey Company, with founders Jack and Stephen Teeling continuing to own part of the business and run day-to-day operations.
Dark Spirits Key Market Trends
- One key trend in the global dark spirits market is the increasing demand for premium and super-premium products, driven by a growing consumer preference for higher quality and more exclusive spirits. This trend is also fuelled by the increasing number of affluent consumers worldwide who are willing to pay a premium for luxury and high-end spirits. In addition, the rise of cocktail culture and mixology is also driving demand for premium spirits, as consumers seek out unique and high-quality ingredients to create their own signature cocktails at home or in bars and restaurants.
Dark Spirits 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 by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global dark spirits market analysis, the market is highly competitive and dynamic industry that includes various types of spirits, such as whiskey, rum, and brandy, among others. The market is driven by a growing demand for premium and super-premium products, increasing consumer interest in craft and artisanal spirits, and the rise of cocktail culture and mixology. Key players in the market are focused on product innovation, expansion into new markets, and sustainability initiatives.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 60.44 billion |
| Market size value in 2031 | USD 136.79 billion |
| Growth Rate | 9.5% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| 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 |
Dark Spirits Market Recent Developments
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| Customization scope | Free report customization with purchase. Customization includes:-
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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 Dark Spirits 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
- Exhibit: Impact analysis of DROC, 2021
- 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 Dark Spirits 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
- Exhibit: Impact analysis of DROC, 2021
- 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
- Competitive rivalry
- 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(%)
- Total number of companies covered
Methodology
For the Dark Spirits 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 Dark Spirits 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 Dark Spirits Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Dark Spirits 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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