Market Size of Global Craft Vodka Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Craft Vodka Market Analysis
The global craft vodka market is projected to register a CAGR of 5.0% during the forecast period (2019-2024).
- The market is mainly driven by the increasing demand for vodka and the frequent launches of newly formulated products, such as gluten-free different flavored craft vodkas in the market by the key players. However, in the room of high demand of the product, factors restraining the market is the volatility of raw material prices that are used for the manufacturing of craft vodka.
- Geographically, North America is dominating the market, followed by Europe and Asia-Pacific, owing to the production concentration and demand for craft vodka. In terms of countries, Australia has witnessed a rapid growth in the number of craft distilleries.
