Global Specialty Spirits Market Size By Product Type (Baijiu, Shochu, Sake, Soju), By Distribution Channel (Business to Business, Business to Consumers), By Geographic Scope And Forecast

Specialty Spirits Market Size And Forecast

Specialty Spirits Market size is growing at a CAGR of 4.8% from 2022 to 2030.

The global specialty spirits market is also characterized by the presence of several regional and small manufacturers who lead the market in countries such as Japan, the U.K., and China. Producers are focusing on opening new retail outlets to strengthen their distribution channels and increase their earnings. The Global Specialty Spirits Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Specialty Spirits Market Definition

The specialty spirits category includes some of the more unique and individualized spirits that don’t fit into traditional spirits categories. Pomace brandies such as grappa and marc are included as part of this category as are aquavit, dry schnapps, and certain flavored spirits from around the world. Speciality spirits is an upcoming product category launched by the stalwarts of liquor manufacturers. The following category of spirits offers more than just “alcohol” to the targeted population.

Think of it like thisspecialty spirits are made just like other distilled drinks. But, they're not just pure alcohol. They're a mix of alcohol and goodies like nuts or fruits, anything that can add a little something extra, nutritionally speaking, while keeping the alcohol content consistent. What's really driving their popularity these days? People are looking for something different, and the DIY trend has made folks even more interested in trying unique spirits. Plus, you can even find versions with no alcohol at all, marketed as non-alcoholic options. Ultimately, the appeal of specialty spirits boils down to the potential health benefits they offer and the growing preference for those "flavored alcoholic drinks" we all seem to love – and that's exactly what's fueling the market right now.

Global Specialty Spirits Market Overview

Turns out, alcoholic drinks were often seen as a contributing factor to cardiovascular diseases. What's more, in places like the US, which has seen a steady yearly increase of 1.25% in diabetes and other health issues, heart problems are a big deal. And get thisthe CDC estimates that hypertension causes 10 million deaths globally! So, instead of regular alcoholic drinks, people are turning to specialty spirits, tweaked to meet today's customer preferences. Now, things like cloves, nuts, and herbs are being added to these drinks to help lessen the usual alcohol risks. Bonusthese ingredients are actually proven to have medical benefits!

A challenge that specialty spirits are facing is the cost at which the products are offered to prospective consumers. The application of specialty spirits in daily life is more intensive than other liquor-oriented beverages; the growth potential is severely hampered by the impending costs.

Specialty spirits often have deep roots in specific regions. Take Baijiu, for example, a spirit originating from China in the Asia Pacific. Interestingly, people there drink an average of 9.43 liters of Baijiu each year! That's more than Americans, who consume about 8.2 liters of spirits annually. These drinks are usually crafted from local ingredients like rice, barley, and sorghum, and they carry a lot of cultural significance. Over time, folks have adapted and tweaked these original recipes to better suit what people want, which keeps the market going strong.

Global Specialty Spirits MarketSegmentation Analysis

The Global Specialty Spirits Market is segmented on the basis of Product Type, Distribution Channel, and Geography.

Specialty Spirits Market, By Product Type

• Baijiu• Shochu• Sake• Soju• Cachaca• Others

When it comes to unique drinks, the Global Specialty Spirits Market is divided into categories like Baijiu, Shochu, Sake, Soju, Cachaca, and, well, Others based on what kind of drink they are. And guess what? The Baijiu section is expected to explode, growing faster than anyone else predicts! Why? Because companies are constantly coming up with new versions and ways to categorize it. Take, for example, Sauce Flavor Baijiu, a recent arrival that tastes a bit like soy sauce and even offers some amino acids that might help your heart. You've also got Strong flavor baijiu, known for its lingering taste, and light flavor baijiu, which leaves you feeling refreshed. All these cool changes and custom options tailored to what people want are really going to boost this segment.

Specialty Spirits Market, By Distribution Channel

• Business to Business• Business to Consumers

Global Specialty Spirits Market is segmented into The Business to Business, Business to Consumers. The B2C segment held a dominant market share in the year 2021. It is owing to the stringent lockdowns imposed throughout the world because of the pandemic. Furthermore, specialty spirits have been used to make loaves of bread, cakes, and other delicacies that were predominantly made in homes due to trends such as DIY. Moreover, the B2C segment operated under government permissions and allowed the consumers an on-door delivery of such spirits at a discounted price.

However, the B2B segment is estimated to be the fastest-growing segment over the forecast period. It is owing to the opening up of the economies, along with new product launches, which allows the specialty spirits to be used in place of ardent spirits. Manufacturers are now launching products with ABV up to 50% to counter the ardent spirits.

Specialty Spirits Market, By Geography

• North America• Europe• Asia Pacific• Rest of the world

Looking at where specialty spirits are popular around the globe, we've broken it down into North America, Europe, Asia Pacific, and the Rest of the World. North America was the big winner in 2021, grabbing a whopping 40% of the market! Seems like people are switching to specialty spirits, maybe because they're worried about cardiovascular issues and other health problems from drinking too much of the usual stuff. Plus, everyone's looking for drinks with better nutritional value these days. But hey, Asia-Pacific is where the real excitement is! They're expected to be a goldmine for specialty spirits, with a super-fast-growing young population that's really into fancy, premium drinks. All this points to some serious growth in the market over the next few years.

Key Players

The “Global Specialty Spirits Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are RB Tatuzinho 3 Fazendas, Hite Jinro, Lotte, Luzhou Laojiao, Sanwa Shurui, Takara Shuzo, Fazenda Futuro, Prohibition Spirits Distillery, International Wines & Craft Beer, and Craft Distillers, Campari Group.

Key Developments

• In January 2020, Italy’s Campari Group modified its Vermouth’s offerings across the globe. From earlier conceived as a cocktail mixer, has now been modified with low ABV content and a specialty spirit that has added herbs and other value nutrition to make it a stand-alone drink

• In January 2020, Danish producer Siwu launched “Siwu Akvavit.” The drink has a 40% ABV ratio and has been tripled and distilled with cumin and barley malt to provide nutritional benefits and compete with hard alcoholic drinks such as Vodka and Rum.

Report Scope

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Reasons to Purchase this Report

We dig deep into the market, using both numbers (quantitative) and insights (qualitative) to break it down into understandable segments, considering factors beyond just the economy. You'll get market value data (in USD Billion) for every segment and sub-segment we identify. We'll pinpoint the region and segment poised for the most rapid growth and those set to lead the market. Our geographical analysis highlights product/service consumption in each region and explains the drivers impacting the market there. The competitive landscape features market rankings of key players, plus details on new service/product launches, partnerships, expansions, and acquisitions over the last five years. We provide extensive company profiles, including company overviews, insights, product benchmarking, and SWOT analysis for major market players. Expect a current and future market outlook reflecting recent developments, growth opportunities, drivers, and challenges in both emerging and developed regions. Our in-depth market analysis employs Porter's five forces analysis and offers a clear view through the Value Chain. We also present the market dynamics scenario, along with future growth opportunities. And finally, you get 6 months of post-sales analyst support.

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