Europe Premium Spirit Market Size & Outlook, 2023-2030
Europe premium spirit market, 2018-2030 (US$M)
Related Markets
Europe premium spirit market highlights
- The Europe premium spirit market generated a revenue of USD 21,990.6 million in 2019.
- The market is expected to grow at a CAGR of 10.4% from 2020 to 2027.
- In terms of segment, vodka was the largest revenue generating product in 2019.
- Tequila is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, UK is expected to register the highest CAGR from 2020 to 2027.
Europe data book summary
| Market revenue in 2019 | USD 21,990.6 million |
| Market revenue in 2027 | USD 48,679.7 million |
| Growth rate | 10.4% (CAGR from 2019 to 2027) |
| Largest segment | Vodka |
| Fastest growing segment | Tequila |
| Historical data covered | 2016 - 2018 |
| Base year for estimation | 2019 |
| Forecast period covered | 2020 - 2027 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Vodka, Whisky, Gin, Tequila, Rum, Brandy |
| Key market players worldwide | Diageo PLC, Pernod Ricard SA, Brown-Forman Corp Registered Shs -B- Non Vtg, Bacardi, LT Group Inc, Alliance Global Group Inc |
Other key industry trends
- In terms of revenue, Europe region accounted for 20.4% of the global premium spirit market in 2019.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2027.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 97,925.2 million by 2027.
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Premium Spirit Market Scope
Premium Spirit Market Companies
| Name | Profile | # Employees | HQ | Website |
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Europe premium spirit market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to premium spirit market will help companies and investors design strategic landscapes.
Vodka was the largest segment with a revenue share of 29.77% in 2023. Horizon Databook has segmented the Europe premium spirit market based on vodka, whisky, gin, tequila, rum, brandy covering the revenue growth of each sub-segment from 2018 to 2030.
The rapid rise in demand for premium quality spirits as a result of altering cultural views among the region's young and affluent population is a primary driver of the spirits market's expansion in the region.
An increased focus on health and wellbeing is driving the Europe premium spirits market, leading consumers to favor quality over quantity. This shift to premiumization has spurred a growing interest in exploring the craftsmanship behind spirits, such as wood-aged brandies and whiskies with unique finishes.
Consumers are trading up to hand-crafted, vintage products that reflect the distiller's art. This preference for high-quality spirits encourages moderate and responsible drinking, a trend supported by industry bodies.
Reasons to subscribe to Europe premium spirit market databook:
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Strategic advantage: By staying updated with the latest market intelligence, companies can stay ahead of competitors, anticipate industry shifts, and capitalize on emerging opportunities.
Target buyers of Europe premium spirit market databook
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Our clientele includes a mix of premium spirit market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Europe premium spirit market , including forecasts for subscribers. This continent databook contains high-level insights into Europe premium spirit market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Europe premium spirit market size size, by country, 2018-2030 (US$M)
Europe Premium Spirit Market Outlook Share, 2023 & 2030 (US$M)
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