Europe – Vodka Market size to grow by USD 2.84 billion between 2023 – 2028- Technavio
Industry: Food & Drink
Anheuser Busch InBev SA NV, Bacardi Ltd., BrewDog Plc, and MORE to emerge as key market players - Technavio
New York, NY (PRUnderground) November 21st, 2023
The Europe – Vodka Market size is set to grow by USD 2.84 billion, accelerating at a CAGR of 3.55% from 2023 to 2028, according to Technavio. To help businesses improve their market position, Technavio provides a detailed analysis of around 25 companies operating in the market. Some of these companies include Anheuser Busch InBev SA NV, Bacardi Ltd., BrewDog Plc, Brown Forman Corp., Diageo Plc, Ellustria Ltd., JSC Rosspirtprom, LVMH Moet Hennessy Louis Vuitton SE, Molson Coors Beverage Co., MOSCOW DISTILLERY CRISTALL, Novabev Group, Pernod Ricard SA, Roust, Stock Spirits Group, Stoli Group S.ar.l., Yaroslavl Distillery LLC, Abtshof Magdeburg GmbH, Alcohol Siberian Group Ltd., Beam Suntory Inc., and Highland Liquor Co. Ltd.
The market growth is significantly influenced by the increasing demand for premium vodka, notably observed in the European market. Various reasons contribute to this increasing demand, including evolving consumer preferences, higher disposable incomes, the expansion of nightlife and cocktail culture, a growing preference for handcrafted and locally produced goods, increased consumer interest in sustainable and organic products, and the influence of social media and influencer marketing. These factors are anticipated to drive market growth in the region throughout the forecast period. Technavio offers in-depth market insights that assist global businesses in obtaining growth opportunities. Buy the Full Report
Europe – Vodka Market 2024-2028: Segmentation
- Distribution Channel
- Off-trade
- On-trade
- Product
- Unflavored
- Flavored
- Geography
- Europe
There will be substantial market share expansion in the off-trade segment during the forecast period. The off-trade distribution channel refers to retail sales of alcoholic beverages occurring outside traditional on-site establishments like pubs, restaurants, and clubs. The European vodka market encompasses a considerable off-trade segment comprising diverse channels.
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The report also covers the following areas:
The Europe – Vodka Market is fragmented, and the degree of fragmentation will accelerate. The increasing demand for premium vodka will offer immense growth opportunities. However, the negative consequences of consuming vodka will hamper the market growth.
Europe – Vodka Market 2024 – 2028: Market dynamics
Leading trends influencing the market
The market growth is influenced by the emerging trend of craft vodka adoption in Europe. Craft vodka, favored for its unique qualities and original production methods, reflects consumers’ demand for high-quality, handmade goods and support for regional traditions and small businesses. This trend also highlights the rising interest in superior products and brands’ emphasis on transparency and sustainability.
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Europe – Vodka Market 2024-2028: Key Highlights
- CAGR of the market during the forecast period 2024-2028
- Detailed information on factors that will assist Europe – Vodka Market growth during the next five years
- Estimation of the Europe – Vodka Market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the Europe – Vodka Market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of Europe – Vodka Market vendors
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Related Reports:
Vodka Market: The Global Vodka Market size is projected to increase by 422.1 million L, exhibiting a CAGR of 2.49% between 2022 and 2027. In 2017 the size of the market was valued at 3,042.17 million L.
US – Vodka Market: The US – Vodka Market size is projected to increase by USD 5.28 billion and the market size is estimated to grow at a CAGR of 4.45% between 2023 and 2028.
TOC
- Executive Summary
- Market Landscape
- Market Sizing
- Historic Market Size
- Five Forces Analysis
- Market Segmentation by Distribution Channel
- Market Segmentation by Product
- Customer Landscape
- Geographic Landscape
- Drivers, Challenges, and Trends
- Company Landscape
- Company Analysis
- Appendix
About Technavio Research
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
