North America Spirits Market Segment Analysis On The Basis Of Product, Caps & Closure, Caps & Closure Material, Distribution Channel, Region And Forecast To 2028


 San Francisco, 14 May 2024: The Report North America Spirits Market Size, Share & Trends Analysis Report By Product (Whiskey, Gin), By Caps & Closures Material (Plastic, Metal), By Caps & Closures (Bar-top, Screw-top), By Distribution Channel, And Segment Forecasts, 2021 - 2028

The North America spirits market is expected to reach USD 278.5 billion by 2028, registering a CAGR of 7.7% over the forecast period, according to a new report by Grand View Research, Inc. The market has several growth opportunities due to the rising consumer demand for premium and low alcohol content drinks. Moreover, innovation in Ready-to-Drink (RTD) products with an infusion of botanical and organic ingredients will provide new growth opportunities in the coming years.

The whiskey product segment held the largest market share in 2020 and is expected to maintain dominance over the forecast period. In North America, there is a growing demand for distinctive and handcrafted alcoholic beverages, which is likely to boost the market growth. The demand for whiskey is predicted to rise in the coming years due to the increasing consumption of alcohol, especially in the U.S. and Canada.

The U.S. accounted for the largest revenue share in 2020. As per the data by IWSR, people under the age group of 21 to 44 years are the most frequent consumers of low-alcohol drinks. According to The Wall Street Journal, alcohol volumes declined by 0.8% in 2018 in the U.S., slightly steeper than the 0.7% drop in 2017. The market has a strong presence of several regional and international players.

Access Research Report of North America Spirits Market @ https://www.grandviewresearch.com/industry-analysis/north-america-spirits-market-report

North America Spirits Market Report Highlights

  • The whiskey segment accounted for a larger share of the overall revenue in 2020. The growing demand for unique and crafted alcoholic beverages is emerging as a rising trend, which drives the segment
  • The screw-top caps & closure segment held the largest market share in 2020 and is expected to maintain dominance over the forecast period
  • The growth is credited to several advantages pertaining to the structure of screw-top caps, such as low cost and ease of use & application
  • The plastic material segment held the largest market share in 2020 and is expected to maintain dominance over the forecast period
  • The abundant availability of these raw materials translates to the low cost of production, thereby making plastic caps and closures a viable choice for packaging
  • The liquor stores distribution channel segment accounted for the largest market share in 2020 and is expected to maintain dominance over the forecast period
  • Some of the popular liquor stores in North America are Astor Wines & Spirits and Ambassador Wines & Spirits
  • Mergers & acquisitions emerged as the key strategy deployed by the majority of market players to stay abreast of the competition

North America Spirits Market Report Scope

Report Attribute

Details

Market size value in 2021

USD 169.8 billion

Revenue forecast in 2028

USD 278.5 billion

Growth rate

CAGR of 7.7% from 2021 to 2028

Base year for estimation

2020

Historical data

2016 - 2019

Forecast period

2021 - 2028

List of Key Players of North America Spirits Market

  • Suntory Holdings Ltd.
  • Pernod Ricard
  • Constellation Brands
  • Rémy Cointreau
  • Brown-Forman
  • Asahi Group Holdings, Ltd.
  • Bacardi Limited
  • Campari Group
  • William Grant & Sons

Access Press Release of North America Spirits Market @ https://www.grandviewresearch.com/press-release/north-america-spirits-market-analysis

 

Comments

Post a Comment

Popular posts from this blog

Asia Pacific PoC Diagnostics Market Growth Opportunities, Industry Analysis And Forecast: Grand View Research Inc.

Image
San Francisco, 18 March 2020 :  The Report   Asia Pacific PoC Diagnostics Market  Analysis And Segment Forecasts To 2020 The Asia Pacific point of care (PoC) diagnostics market is expected to reach USD 5,427.1 million by 2020, according to a new study by Grand View Research, Inc. Growing base of geriatric population and the ability to render immediate results and improve patient care coupled with rising market penetration of PACS (picture archiving and communication systems) and EMR (electronic medical records) are expected to drive demand over the next six years. Skilled staff shortages, especially pertaining to the field of diagnostics are also expected to accelerate the market penetration rates of PoC products, by expediting lab automation processes. Rising demand for home healthcare and other healthcare establishments catering to the elderly population and initiatives undertaken by governments to shorten hospital stays by establishing out-patient care models are also expect
Read more

Latin America Nutrition & Dietary Supplements Market Expected To Grow At A CAGR 8.8% For The Forecast Period From 2017 To 2025 : Grand View Research Inc.

San Francisco, 20 May 2019:  The Report  Latin America Nutrition & Dietary Supplements Market  Size, Share & Trends Analysis Report By Formulation, By Function (Medical Foods, Sports Nutrition), By Consumer, By Country, And Segment Forecasts, 2018 – 2025 The Latin America Nutrition & Dietary Supplements Market size is expected to reach USD 47.5 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 8.8% over the forecast period. Growing expenditure on nutrition and dietary supplements, disposable income, and consumer awareness are some of the key market drivers. Changing regulatory framework to ensure drug safety in Latin American countries such as Mexico and Argentina is also expected to positively impact market growth in the forthcoming years. Growing demand for nutrition and dietary supplements among geriatric population is also one of the considerable market drivers. Nutrition plays a vital role in maintain
Read more

Biomaterials Market Size Poised To Reach USD 348.4 Billion By 2027

Image
  San Francisco, 15 Dec 2020:   The Report  Biomaterials Market  Size, Share & Trends Analysis Report By Product (Natural, Metallic, Polymer), By Application (Cardiovascular, Orthopedics, Plastic Surgery), By Region, And Segment Forecasts, 2020 - 2027 The global biomaterials market size is expected to reach USD 348.4 billion by 2027, registering a CAGR of 15.9% over the forecast period, according to a new report by Grand View Research, Inc. The application of biomaterials represents a fast-growing field in biomedical research. Recent advances in the improvement of bioactivity, compatibility, and mechanical properties of biomaterials have introduced new opportunities for their application in tissue engineering, immune engineering, and drug delivery systems. Biocompatibility, low toxicity, and renewable nature of polymeric biomaterials make them potent drug delivery agents in controlled and targeted drug delivery, thus providing lucrative opportunities for the market growth. The adve
Read more