Craft Spirits Market Size & Outlook, 2030

Revenue, 2023 (US$M)

$21,184.3

Forecast, 2030 (US$M)

$117,374.3

CAGR, 2024 - 2030

27.7%

Report Coverage

Worldwide

Global craft spirits market, 2017-2030 (US$M)

Related Markets

North America Craft Spirits Market Outlook

U.S. Craft Spirits Market Outlook

Canada Craft Spirits Market Outlook

Mexico Craft Spirits Market Outlook

Europe Craft Spirits Market Outlook

Germany Craft Spirits Market Outlook

France Craft Spirits Market Outlook

Italy Craft Spirits Market Outlook

Spain Craft Spirits Market Outlook

UK Craft Spirits Market Outlook

Asia Pacific Craft Spirits Market Outlook

Japan Craft Spirits Market Outlook

China Craft Spirits Market Outlook

India Craft Spirits Market Outlook

South Korea Craft Spirits Market Outlook

ANZ Craft Spirits Market Outlook

Latin America Craft Spirits Market Outlook

Argentina Craft Spirits Market Outlook

Brazil Craft Spirits Market Outlook

MEA Craft Spirits Market Outlook

Saudi Arabia Craft Spirits Market Outlook

Global craft spirits market highlights

The global craft spirits market generated a revenue of USD 21,184.3 million in 2023 and is expected to reach USD 117,374.3 million by 2030.
The market is expected to grow at a CAGR (2024 - 2030) of 27.7% by 2030.
In terms of segment, whiskey accounted for a revenue of USD 9,516.8 million in 2023.
Gin is the most lucrative product segment registering the fastest growth during the forecast period.
In terms of region, North America was the largest revenue generating market in 2023.
Country-wise, Saudi Arabia is expected to register the highest CAGR from 2024 to 2030.

Global data book summary

Market revenue in 2023	USD 21,184.3 million
Market revenue in 2030	USD 117,374.3 million
Growth rate	27.7% (CAGR from 2023 to 2030)
Largest segment	Whiskey
Fastest growing segment	Gin
Historical data covered	2017 - 2022
Base year for estimation	2023
Forecast period covered	2024 - 2030
Quantitative units	Revenue in USD million
Market segmentation	Whiskey, Vodka, Gin, Rum, Brandy, Liquer

Other key industry trends

In terms of revenue, the North America accounted for 60.4% of the global craft spirits market in 2023.
By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
By country, Saudi Arabia is the fastest growing regional market and is projected to reach USD 157.8 million by 2030.

Whiskey was the largest segment with a revenue share of 44.92% in 2023. Horizon Databook has segmented the Global craft spirits market based on whiskey, vodka, gin, rum, brandy, liquer covering the revenue growth of each sub-segment from 2017 to 2030.

Millennials refer to people born between the 1980s and early 2000s. This generation have accounted for a significant percentage of alcohol drinkers in the recent past and this trend is anticipated to continue over the forecast period as well. The generation is above the legal drinking age (LDA) and exhibits a significant purchasing power.

There are around 1.8 billion millennials across the globe, equal to 23% of the global population, according to World Economic Forum. In the U.S., they constitute approximately 32% of the total consumption of these spirits, according to a survey conducted by FHE Health in May 2020.

Key Regions: U.S. , UK , Japan , Brazil , Canada