U.S. Craft Spirits Market Size & Outlook, 2023-2030
U.S. craft spirits market, 2017-2030 (US$M)
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U.S. craft spirits market highlights
- The U.S. craft spirits market generated a revenue of USD 9,191.1 million in 2023 and is expected to reach USD 52,313.9 million by 2030.
- The U.S. market is expected to grow at a CAGR of 28.2% 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.
Craft spirits market data book summary
| Market revenue in 2023 | USD 9,191.1 million |
| Market revenue in 2030 | USD 52,313.9 million |
| Growth rate | 28.2% (CAGR from 2023 to 2030) |
| Largest segment | Whiskey |
| Fastest growing segment | Gin |
| Historical data | 2017 - 2022 |
| Base year | 2023 |
| Forecast period | 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, U.S. accounted for 43.4% of the global craft spirits market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. craft spirits market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 14,616.0 million by 2030.
Whiskey was the largest segment with a revenue share of 44.92% in 2023. Horizon Databook has segmented the U.S. craft spirits market based on whiskey, vodka, gin, rum, brandy, liquer covering the revenue growth of each sub-segment from 2017 to 2030.
According to the ACSA, despite the detrimental impact of COVID-19 on the global economy, the U.S. craft spirits industry as a whole continued to thrive in 2020. As of August 2021, there were 2,290 active artisan distillers in the U.S., up 1.1% from the previous year.
Moreover, as the Craft Beverage Modernization and Tax Reform Act was passed in 2017 and later extended, Federal Excise Tax was reduced on distilled spirits. As a result, the amount of money invested by the U.S. spirit industry in the craft spirits business rose to USD 759 million in 2020 from USD 698 million in 2019.
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Craft Spirits Market Scope
Craft Spirits Market Companies
| Name | Profile | # Employees | HQ | Website |
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U.S. craft spirits market size, by product, 2017-2030 (US$M)
U.S. Craft Spirits Market Outlook Share, 2023 & 2030 (US$M)
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