Global Vodka Market Research Report 2018 by Manufacturers, Regions, Types and Applications
Wiseguyreports.Com Adds “Vodka – Market Demand, Growth, Opportunities, Manufacturers and Analysis of Top Key Players to 2023” To Its Research Database.
Vodka is a clear distilled alcoholic drink consumed by many around the world. It is the most popular spirit and its global market is expected to witness outstanding growth over the forecast period. The increasing application of this drink in cocktails and good buying power are the main factors that will boost sales in the coming years. According to report analysts, the global market of this alcoholic beverage is expected to grow at a CAGR of 3.3% during 2019-2023.
While most vodka is prepared from fermented grains such as corn, wheat or rye, some are also made from molasses, potatoes, soybeans, rice, grapes, sugar beets and other ingredients. This alcoholic beverage is commonly used in cocktails. Report analysts are of the view that rising globalization in India, China and other countries will increase the sales over the forecast period. As per reports, the global market registered sales of about 2.9 billion litres in 2018 and is expected to reach 3.1 billion litres by 2019.
The global vodka market registered a CAGR of about 2% during 2014-2019. However, with the rising demand for premium alcoholic beverages and increasing popularity, the market is expected to witness good growth over the forecast period. In the United States, the market is likely to record a CAGR of about 6% by 2020. This report will give a clear picture of the current market status, growth prospects, key regions, key players, opportunities, threats, demand and more to help manufacturers plan their future strategies accordingly.
The global vodka market is divided into product types, applications, and flavors.
Based on types, the market is segmented into Polish vodka, Swedish vodka, Russian vodka, craft vodka and ready-to-drink vodka. Craft vodka market in North America is expected to register a CAGR of 31% during 2019-2023.
Based on end-use or applications, the market is segmented into supermarkets, department stores, bars and others.
Based on flavors, the market is divided into flavored and unflavored vodka.
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The regions taken into account for analyzing the global vodka market are North America (The United States, Canada and Mexico), Europe (Italy, Germany, UK, France, Russia, Spain and rest of the region), Asia-Pacific (India, South Korea, Japan, China, Australia, Indonesia, Singapore and rest of the region), Central and South America (Argentina, Brazil, Columbia and rest of the region), and the Middle East and Africa (UAE, Egypt, Saudi Arabia, Nigeria, Turkey and South Africa).
North America is the main region for this alcoholic beverage and the market is expected to grow at a notable rate in the coming years. Russia is one of the most important regions and a high consumer of the beverage. Countries such as Argentina, Brazil, South Africa and Italy are likely to witness an impressive growth during the forecast period.
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There is an increasing demand for this alcoholic drink among millennial consumers. The demand for this alcoholic beverage is high in bars and restaurants. Growing cocktail culture and increasing demand for new and innovative cocktails by the millennial population is driving the market for Vodka.
The report covers a comprehensive study of the competitive scenario of the Vodka Market Status and the current trends that are predicted to disrupt the market. It identifies dynamic players of the market, including both the major and emerging players. The report contains the companies in the market share review to offer a more extensive overview of the key market players. Moreover, the report also comprises noteworthy strategic developments of the market such as new product launch, partnerships, agreements, research & development collaborations & joint ventures, acquisitions & mergers, and growth of most important market players on a global and regional basis.
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