Global Vodka Market, By Flavor Type (Flavored and Non-flavored), By Distribution Channel (Restaurants & Bars, Specialty Stores, Supermarkets & Hypermarkets, Online Stores, and Others), ByRegion (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) Trend Analysis, Competitive Market Share & Forecast, 2021-2027

  • Published Date: August 2021
  • Report ID: BWC2132
  • Available Format: PDF
  • Page: 200

Report Overview

Global vodka market is driven by the rising interest in cocktails culture among millennial consumers. The companies are now experimenting with innovative flavors for vodka cocktails, which is attracting consumers to try more expensive alcoholic beverages. Moreover, fast-changing consumer preferences are driving players to launch new products to align with those changes, which is driving demand for vodka.

The Global Vodka Market was worth USD46.2 Billion in 2020 and is further projected to reach USD57.4 Billion by 2027, at a CAGR of 3.1% during 2021-2027 (forecast period). Vodka is made primarily from water and ethanol alcohol derived from grains, such as wheat, potato, corn, rye, and barley. Vodka is a mixture of average alcohol and water. Gin is a flavored vodka with spice extracts such as juniper berries. The two most popular drinks in the world are Vodka and Gin.  The rising interest in cocktails culture among millennial consumers is driving the global vodka market. There are many innovative vodka flavors available in the market. Moreover, companies are experimenting with many innovative vodka flavors.In response to the rapid changes in consumer preferences, several key market players are also launching new products, which are contributing to increasing demand for vodka.

Vodka Market Size

Source: BlueWeave Consulting

Global Vodka Market Overview

Vodka originated in Russia and Poland.It is a colorless liquor with a crisp, clean taste that pairs well with any kind of flavor and is commonly used in cocktails.The raw materials used for vodka production include starch, wheat, and different fruits for adding flavor.Vodka is often flavored with berries, peppercorns, lemon peel, buffalo grass, and caraway.Traditionally brewed vodkas have a 38% alcohol content.Bloody Mary, vodka and tonics, vodka martinis, and Screwdrivers are among the most popular vodka drinks.

 

Growth Drivers

Growing Demand from Millennials

Millennials make up the largest segment of the U.S. population.Millennials have become more aware of the reliability of various types of alcoholic beverages, mainly premium vodkas, after widespread usage of social media and the growth of pubs and nightlife.This has resulted in an increase in spending on alcoholic beverages, such as vodka, in on-trade channels worldwide.With social events and social gatherings on the rise and millennials being high-inclined towards drinking alcohol, sales of Vodka have increased as well.

 

Increased Demand for Flavored Vodka

Rising demand for small-batch handcrafted vodka with different flavor profiles and the change in taste of consumers are contributing to the growth of the vodka market. A brand of Heaven Hill Brands, and Deep Eddy Vodka— an American-made and family-owned spirits brand, offers a varied range of flavored vodkas such as tea vodka, cranberry vodka, lemon vodka, orange vodka, and many more. Due to this rising demand, the number of craft distilleries and spirit producers manufacturing craft vodkasis witnessing substantial growth in the global market.

 

Restraints

Effective Alcohol Digital Marketing Strategy

Effective use of the digital channel to drive sales is the primary digital transformation challenge facing the global vodka market. Vodka companies face a lot of difficulty in having efficient, effective, and measurable marketing channels like paid media, enterprise SEO, local SEO, and social media.Vodka companies have many challenges to overcome, including the development of digital experiences, website designs, and brand presentations.Vodka brands have taken this very seriously and are working to build better awareness of it.

 

Impact of COVID-19 in the Industry

The outbreak of the COVID-19 pandemic has majorly affected several industries. The food and beverage companies also suffered enormous losses, which in turn affected the world economy.The COVID-19 has disrupted the transportation network and disruptions in the supply of raw materials have harmed the growth of the vodka market globally. It is expected that as the economy recovers, the demand for vodka will also increase. Consumers are purchasing food and beverages through online retailers, which is why the demand for vodka is predicted to increase in the post-COVID-19 era.

 

Global Vodka Market: By Flavor Type

Based on flavor types, the Global Vodka Market has been segmented into Flavored and Non-flavored. The favored vodka segment holds the largest market share. This segment is growing because companies are experimenting with many different flavors for vodka cocktails that are attracting consumers towards learning more about premium alcoholic beverages.Moreover, new products are being introduced by major players to meet the rapid change in consumer preferences.Additionally, the market has noted significant growth due to the variety of vodkas available to consumers.

 

Global Vodka Market: By Distribution Channel

Based on distribution channels, the global vodka market is grouped into restaurants &bars, specialty stores, supermarkets &hypermarkets, online stores, and others. Among these distribution channels, the specialty stores segment holds a dominant position in the global vodka market. The online stores’ segment, on the other hand, is anticipated to grow steadily during the forecast period. There will be tremendous momentum for the segment in the future due to the ever-expanding penetration rates of special apps, the sway of major third-party online retailers, and initiatives from major vodka brands.

 

Global Vodka Market – Regional Insights

Based on the regions, the global vodkamarket is categorized into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Among these regions, North America is the dominant player in the global vodka market with the highest market share in terms of revenue compared to other markets in other regions. Several factors are contributing to the growth of vodka consumption in North America, including rising urbanization and increased disposable incomes in the region.The Asia Pacific region also has seen the fastest growth in terms of revenue due to factors such as changing lifestyles, increased demand for alcoholic beverages, increasing willingness to spend on alcoholic products, and the popularity of pubs and parties.

Regional Insights

                                                                          Source: BlueWeave Consulting

 

Recent Developments

  • April 2021: Grey Goose launched the Essences line, which includes three variations of vodka infused with real fruit and botanicals: Strawberry and Lemongrass, Watermelon and Basil, and White Peach and Rosemary.

 

  • August 2020: Diageo Plc, the world's largest spirits company, has written down £1.3 billion due to disruptions caused by coronaviruses, with India accounting for half of this impairment charge.

 

Competitive Landscape

  • The key players in the global vodkamarketareStoli, Proximo Spirits, Canadian Iceberg Vodka Corporation, Distell, Constellation Brands Inc., Central European Distribution Corporation, Brown-Forman, Bacardi & Company Limited, Pernod Ricard, Campari Group, Diageo plc, Soyuz-Viktan, Tilaknagar Industries Ltd, Suntory, Russian Standard, Gray Goose, Nemiroff, The Absolut Company AB, The UB group, and other manufacturers.

 

  • There are several large domestic and regional players in the global vodka market.Leading companies regularly engage in mergers, acquisitions, partnerships, and expansions, along with launching new products as strategic approaches accepted by consumers to increase their brand recognition and gain a competitive edge in the market.

 

Scope of the Report:

Attribute

Details

Years Considered

Historical data – 2017-2020

Base Year – 2020

Forecast – 2021 – 2027

Facts Covered

Revenue in USD Million

Market Coverage

U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, Argentina, UAE, South Africa, Saudi Arabia

Product/Service Segmentation

By FlavorType,By Distribution Channel, By Region

Key Players

Key players for Global Vodka Marketare Stoli, Proximo Spirits, Canadian Iceberg Vodka Corporation, Distell, Constellation Brands Inc., Central European Distribution Corporation, Brown-Forman, Bacardi & Company Limited, Pernod Ricard, Campari Group, Diageo plc, Soyuz-Viktan, Tilaknagar Industries Ltd, Suntory, Russian Standard, Gray Goose, Nemiroff, The Absolut Company AB, The UB groupand other key manufacturers.

         

 

  • By Flavor Type
  • Flavored
  • Non-flavored
  • By Distribution Channel
  • Restaurants & Bars
  • Specialty Stores
  • Supermarkets & Hypermarkets
  • Online Stores
  • OthersTea Bags
  • By Region
  • North America
  • Latin America
  • Europe
  • The Asia Pacific
  • The Middle-East
  • Africa

 

1. Research Framework

    1.1. Research Objective

    1.2. Product Overview

1.3. Market Segmentation

2. Research Methodology

    2.1. Qualitative Research

            2.1.1. Primary & Secondary Research

2.2. Quantitative Research

2.3. Market Breakdown & Data Triangulation

           2.3.1. Secondary Research

           2.3.2. Primary Research

    2.4. Breakdown of Primary Research Respondents, By Region

    2.5. Assumption & Limitation

3. Executive Summary

4. Global Vodka Market Insights

    4.1. DROC Analysis

           4.1.1. Growth Drivers

           4.1.2. Restraints

           4.1.3. Opportunities

           4.1.4. Challenges

    4.2. Recent Development

    4.3. Porter’s Five Forces Analysis

            4.3.1. Bargaining Power of Suppliers

            4.3.2. Bargaining Power of Buyers

            4.3.3. Threat of New Entrants

            4.3.4. Threat of Substitutes

            4.3.5. Intensity of Rivalry

   4.4 Value Chain Analysis

4.5 Key Strategic Developments

5. Global Vodka Market Overview

    5.1. Market Size & Forecast by Value, 2017-2027

            5.1.1. By Value (USD Million)

    5.2. Market Share & Forecast

5.2.1. By Flavor Type

 

5.2.1.1. Flavored

                 5.2.1.2. Non-flavored

5.2.2. By Distribution Channels

                 5.2.2.1. Restaurants & Bars

                 5.2.2.2. Specialty Stores

                 5.2.2.3. Supermarkets & Hypermarkets

                 5.2.2.4. Online Stores

                 5.2.2.5. Others

5.2.3. By Region

5.2.3.1. North America

5.2.3.2. Latin America

5.2.3.3. Europe

5.2.3.4. Asia Pacific

5.2.3.5. Middle East

5.2.3.6. Africa

6. North America Vodka Market

6.1. Market Size & Forecast by Value, 2017-2027

              6.1.1. By Value (USD Million)

         6.2. Market Share & Forecast

          6.2.1. By Flavor Type

          6.2.2. By Distribution Channel

6.2.3. By Country

   6.2.3.1. United States

                       6.2.3.2. Canada

7. EuropeVodka Market

    7.1. Market Size & Forecast by Value, 2017-2027

            7.1.1. By Value (USD Million)

7.2. Market Share & Forecast

         7.2.1. By Flavor Type

           7.2.2. By Distribution Channels

7.2.3. By Country

7.2.3.1. Germany

7.2.3.2. Poland

7.2.3.3. Russia

7.2.3.4. Italy

7.2.3.5. France

7.2.3.6. United Kingdom

7.2.3.7. Spain

7.2.3.8. Rest of Europe

8. Asia Pacific Vodka Market

 8.1. Market Size & Forecast by Value, 2017-2027

             8.1.1. By Value (USD Million)

     8.2. Market Share & Forecast

          8.2.1. By Flavor Type

            8.2.2. By Distribution Channels

8.2.3. By Country

8.2.3.1. China

8.2.3.2. India

8.2.3.3. Japan

8.2.3.4. Malaysia

8.2.3.5. Singapore

8.2.3.6. Rest of Asia Pacific

9. Latin America Vodka Market

9.1.    Market Size & Forecast by Value, 2017-2027

             9.1.1. By Value (USD Million)

    9.2. Market Share & Forecast

          9.2.1. By Flavor Type

             9.2.2. By Distribution Channels

9.2.3. By Country

9.2.3.1. Brazil

9.2.3.2. Mexico

                 9.2.3.3. Rest of Latin America

10. Middle East & AfricaVodka Market

  10.1.Market Size & Forecast by Value, 2017-2027

         10.1.1. By Value (USD Million)

    10.2. Market Share & Forecast

         10.2.1. By Type

         10.2.2. By Distribution Channels

10.2.3. By Country

10.2.3.1. Saudi Arabia

10.2.3.2. UAE

10.2.3.3. South Africa

             10.2.3.4. Rest of Middle East & Africa

11.      Competitive Landscape

     11.1. List of Key Players and Their Offerings

     11.2. Market/Ranking Share Analysis

     11.3. Competitive Benchmarking, By Operating Parameters

12.      COVID-19 Impact

13.      Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook)

13.1. Stoli

    13.2. Proximo Spirits

    13.3. Canadian Iceberg Vodka Corporation

    13.4. Distell

    13.5. Constellation Brands Inc.

    13.6. Central European Distribution Corporation

    13.7. Brown-Forman

    13.8. Bacardi & Company Limited

    13.9. Pernod Ricard

   13.10. Campari Group

   13.11. Diageo plc

    13.12. Soyuz-Viktan

    13.13. Tilaknagar Industries Ltd

    13.14. Suntory

    13.15. Russian Standard

    13.16. Gray Goose

    13.17. Nemiroff

    13.18. The Absolut Company AB

    13.19. The UB group

    13.20. Other Manufacturers

 

14. Key Strategic Recommendations

 

* Financial information of non-listed Companies will be provided as per availability

 

**The segmentation and the companies are subjected to modifications based on in-depth study during the final deliverable.

 

 

List of Figures

 

 

Fig 1: Global Vodka MarketSegmentation

 

Fig 2: Global Vodka MarketValue Chain Analysis,

 

Fig 3: Company Market Share Analysis, 2020

 

Fig 4: Global Vodka Market Size, By Value (USD Million), 2017-2027

 

Fig 5: Global Vodka Market Share (%), ByFlavor Type, By Value, 2017-2027

 

Fig 6: Global Vodka Market Share (%), By Distribution Channels, By Value, 2017-2027

 

Fig 7: Global Vodka Market Share (%), By Country, By Value, 2017-2027

 

Fig 8: North AmericaVodka Market Size, By Value (USD Million), 2017-2027

 

Fig 9: North AmericaVodka Market Share (%), By Flavor Type, By Value, 2017-2027

 

Fig 10: North America Vodka Market Share (%), By Distribution Channels, By Value, 2017-2027

 

Fig 11: North AmericaVodka Market Share (%), By Country, By Value, 2017-2027

 

Fig 12: EuropeVodka Market Size, By Value (USD Million), 2017-2027

 

Fig 13: EuropeVodka Market Share (%), By Flavor Type, By Value, 2017-2027

 

Fig 14: Europe Vodka Market Share (%), By Distribution Channels, By Value, 2017-2027

 

Fig 15: EuropeVodka Market Share (%), By Country, By Value, 2017-2027

 

Fig 16: Asia-Pacific,Vodka Market Size, By Value (USD Million), 2017-2027

 

Fig 17: Asia-Pacific,Vodka Market Share (%), By Flavor Type, By Value, 2017-2027

 

Fig 18: Asia-Pacific, Vodka Market Share (%), By Distribution Channels, By Value, 2017-2027

 

Fig 19: Asia-Pacific,Vodka Market Share (%), By Country, By Value,2017-2027

 

Fig 20: Latin AmericaVodka Market Size, By Value (USD Million), 2017-2027

 

Fig 21: Latin AmericaVodka Market Share (%), ByFlavor Type, By Value, 2017-2027

 

Fig 22: Latin America Vodka Market Share (%), By Distribution Channels, By Value, 2017-2027

 

Fig 23: Latin AmericaVodka Market Share (%), By Country, By Value, 2017-2027

 

Fig 24: Middle East & AfricaVodka Market Size, By Value (USD Million), 2017-2027

 

Fig 25: Middle East & AfricaVodka Market Share (%), ByFlavor Type, By Value, 2017-2027

 

Fig 26: Middle East & Africa Vodka Market Share (%), By Distribution Channels, By Value, 2017-2027

 

Fig 27: Middle East & AfricaVodka Market Share (%), By Country, By Value, 2017-2027

 

 

List of Tables

 

 

Table 1: Global Vodka Market Size, By Flavor Type, By Value (USD Million), 2017-2027

 

Table 2: Global Vodka Market Size, By Distribution Channels, By Value (USD Million), 2017-2027

 

Table 3: Global Vodka Market Size, By Region, By Value (USD Million), 2017-2027

 

Table 4: North AmericaVodka Market Size, By Flavor Type, By Value (USD Million), 2017-2027

 

Table 5: North America Vodka Market Size, By Distribution Channels, By Value (USD Million), 2017-2027

 

Table 6: North AmericaVodka Market Size, By Country, By Value (USD Million), 2017-2027

 

Table 7: EuropeVodka Market Size, By Flavor Type, By Value (USD Million), 2017-2027

 

Table 8: Europe Vodka Market Size, By Distribution Channels, By Value (USD Million), 2017-2027

 

Table 9: EuropeVodka Market Size, By Country, By Value (USD Million), 2017-2027

 

Table 10: The Asia-PacificVodka Market Size, ByFlavor Type, By Value (USD Million), 2017-2027

 

Table 11: The Asia-Pacific Vodka Market Size, By Distribution Channels, By Value (USD Million), 2017-2027

 

Table 12: The Asia-PacificVodka Market Size, By Country, By Value (USD Million), 2017-2027

 

Table 13: Latin AmericaVodka Market Size, By Flavor Type, By Value (USD Million), 2017-2027

 

Table 14: Latin America Vodka Market Size, By Distribution Channels, By Value (USD Million), 2017-2027

 

Table 15: Latin AmericaVodka Market Size, By Country, By Value (USD Million), 2017-2027

 

Table 16: The Middle-East & AfricaVodka Market Size, By Flavor Type, By Value (USD Million), 2017-2027

 

Table 17: The Middle-East & Africa Vodka Market Size, By Distribution Channels, By Value (USD Million), 2017-2027

 

Table 18: The Middle-East & AfricaVodka Market Size, By Country, By Value (USD Million), 2017-2027

 

Table 19: StoliFinancial Analysis

Table 20: StoliBusiness Overview

Table 21: Proximo SpiritsFinancial Analysis

Table 22: Proximo SpiritsBusiness Overview

Table 23: Canadian Iceberg Vodka CorporationFinancial Analysis

Table 24: Canadian Iceberg Vodka CorporationBusiness Overview

Table 25: DistellFinancial Analysis

Table 26: DistellBusiness Overview

Table 27: Constellation Brands Inc.Financial Analysis

Table 28: Constellation Brands Inc.Business Overview

Table 29: Central European Distribution CorporationFinancial Analysis

Table 30: Central European Distribution CorporationBusiness Overview

Table 31: Brown-FormanFinancial Analysis

Table 32: Brown-FormanBusiness Overview

Table 33: Bacardi & Company LimitedFinancial Analysis

Table 34: Bacardi & Company LimitedBusiness Overview

Table 35: Pernod RicardFinancial Analysis

Table 36: Pernod RicardBusiness Overview

Table 37: Campari GroupFinancial Analysis

Table 38: Campari GroupBusiness Overview

Table 39: Diageo plc Financial Analysis

Table 40: Diageo plc Business Overview

Table 41: Soyuz-Viktan Financial Analysis

Table 41: Soyuz-Viktan Business Overview

Table 42: Tilaknagar Industries Ltd Financial Analysis

Table 42: Tilaknagar Industries Ltd Business Overview

Table 43: Suntory Financial Analysis

Table 43: Suntory Business Overview

Table 44: Russian Standard Financial Analysis

Table 45: Russian Standard Business Overview

Table 46: Gray Goose Financial Analysis

Table 47: Gray Goose Business Overview

Table 48: Nemiroff Financial Analysis

Table 49: Nemiroff Business Overview

Table 50: The Absolut Company AB Financial Analysis

Table 51: The Absolut Company AB Business Overview

Table 52: The UB group Financial Analysis

Table 53: The UB group Business Overview

 

 

Market Segmentation

  • By Flavor Type
  • Flavored
  • Non-flavored
  • By Distribution Channel
  • Restaurants & Bars
  • Specialty Stores
  • Supermarkets & Hypermarkets
  • Online Stores
  • OthersTea Bags
  • By Region
  • North America
  • Latin America
  • Europe
  • The Asia Pacific
  • The Middle-East
  • Africa
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