North America Craft Spirits Market Size & Outlook
North America craft spirits market, 2017-2030 (US$M)
Related Markets
North America craft spirits market highlights
- The North America craft spirits market generated a revenue of USD 12,805.6 million in 2023.
- The market is expected to grow at a CAGR of 28.5% from 2024 to 2030.
- In terms of segment, whiskey was the largest revenue generating product in 2023.
- Gin is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Canada is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 12,805.6 million |
| Market revenue in 2030 | USD 73,899.8 million |
| Growth rate | 28.5% (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 |
| Key market players worldwide | Diageo PLC, Pernod Ricard SA, Constellation Brands Inc Class A, Suntory Beverage & Food Ltd, Bacardi, Heaven Hill Distilleries, Campari Group, Sazerac Company, Highwood Distillers, Rogue Ales |
Other key industry trends
- In terms of revenue, North America region accounted for 60.4% of the global craft spirits market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 18,586.1 million by 2030.
Whiskey was the largest segment with a revenue share of 44.92% in 2023. Horizon Databook has segmented the North America craft spirits market based on whiskey, vodka, gin, rum, brandy, liquer covering the revenue growth of each sub-segment from 2017 to 2030.
The demand and consumption of spirits continue to be influenced by changes in consumer habits brought on by the pandemic. Even as economies begin to reopen, these trends will have a long-term influence on the alcoholic beverages business, particularly the craft spirits sector.
Craft spirits are experiencing growth because of consumers' increased appetite for premium, authentic cocktails with distinct flavors. Whiskey is the most popular craft spirit worldwide, followed by gin, vodka, and rum.
Moreover, in its 2020 Economic Briefing, the Distilled Spirits Council of the United States (DISCUS), announced that the U.S. spirits market gained market share for the 11th year in a row, with supplier sales up 7.7%, volume up 5.3%, and the overall beverage alcohol sales by volume up 3%.
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Craft Spirits Market Scope
Craft Spirits Market Companies
| Name | Profile | # Employees | HQ | Website |
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North America craft spirits market size, by country, 2017-2030 (US$M)
North America Craft Spirits Market Outlook Share, 2023 & 2030 (US$M)
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