Global Craft Vodka Market: Introduction
- Craft spirit is the process of making spirit by hand, or in small batches, with particular attention being paid to the process and the end product. Vodkas can be made of various ingredients such as wheat, corn, beets, potatoes, milk, and even coffee.
- Craft vodkas are made in breweries in small batches, paying extra attention to the quality of ingredients used in its preparation. Craft vodkas are widely accepted owing of its unique taste.
- Connoisseurs do not mention the term vodka, as it is an odorless and colorless distilled spirit. However, use of various ingredients and distillation processes lend craft vodka a certain degree of aroma and taste.
- Several distillers have started serving craft vodka due to demand and acceptance among consumers. Changing consumer preferences and a rise in number of distilleries are expected to drive the global craft vodka market during the forecast period.
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Key Drivers and Restraints of the Global Craft Vodka Market
- Earlier, vodka was used as a mixer to make various drinks. Popularity of craft vodka has been increasing due to the rising popularity of vodka. Developing countries have been witnessing a rise in consumption of craft vodka. Changing lifestyle and increased spending power of consumers are expected to drive the craft vodka market during the forecast period.
- Craft vodka is still finding its ground and is not completely known to several consumers. Consequently, different regions across the globe offer significant opportunity to the craft vodka market.
- Major breweries are experimenting with various combinations of ingredients of craft vodka to attract more consumers. Craft vodka is also marketed in various events and festivals across the globe. Major players are entering into agreements with restaurants, hotels, and local hotspots to promote craft vodka. Rapid increase in small breweries is expected to drive the craft vodka market.
- Variety of options and surge in purchasing power of middle class consumers seeking new products along with rise in disposable income are expected to boost the market during the forecast period.
Europe to Lead the Global Craft Vodka Market
- The global craft vodka market can be divided into five regions: North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and Latin America (LA)
- In terms of consumption, Europe dominates the global market. Furthermore, Europe is estimated to maintain its dominance of the global market during the forecast period owing to an increase in demand for flavored vodka in the region. North America is projected to follow Europe in terms of share of the global market.
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Key Manufacturers Operating in the Market
The global craft vodka market is highly competitive owing to the presence of several global and regional players. Major players are adopting various strategies such as expansions, acquisitions, agreements, new product launches, and joint ventures, and experimenting with different ingredients to attract more consumers and consolidate their position in the market. Distilleries emphasize on increasing awareness about craft vodka. Furthermore, companies are focused on emerging markets such as Asia Pacific and Africa to expand their existing customer base. A few key players operating in the global craft vodka market are:
- Hanson Spirits LLC
- Woody Creek Distillers
- Charbay Distillery
- 44? North Vodka
- 619 Spirits North Park
- Cardinal Spirits
- Candella micro-distillery
- Bainbridge Organic Distillers
- St. George Spirits
- 21ST CENTURY SPIRITS, LLC
- Long Road Distillers
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