SIPC - Industry Overview
The global spirits industry was worth almost $263 billion in 2010, having recorded yearly growth of over 2.5% between 2006 and 2010, reports MarketLine. Whisky represents the leading market segment, generating almost $70 billion in sales in 2010 and accounting for almost 27% of the overall market in terms of value. Market growth is expected to accelerate to exceed a yearly growth rate of 3% between 2010 and 2015 to hit $306 billion.
The global spirits industry refers to the manufacturing of spirits, with companies involved in distilling and blending liquors, blending and mixing liquors with other ingredients, and distilling potable liquors. Spirits manufacturers use ingredients such as grains to distill into alcoholic spirit beverages, which they then package and sell to various types of outfits like restaurants, clubs, bars, retail stores, liquor wholesalers, hotels and casinos.
Liquor sales rose by 4% last year, and growth was particularly strong in terms of exports of American spirits (up 16.5%) and sales in the pricey “super premium” category of vodka (up 15.9%). Liquor also posted slight gains in market share against beer, indicating that consumers feel good enough about the economy to splurge on upscale beverages.
Last year, liquor sales hit $19.9 billion, up 4% from 2010. Top-shelf brands performed particularly well, rising 8.9% as a group, with revenues increasing 15.9% for “super premium” vodkas and 11.4% for top-quality bourbons and whiskeys.
