Health conscious consumers are preferring premium alcoholic beverages over non-premium products due to the variation of natural flavors in vodka and other distilled spirits which is supporting the market growth across the globe. For example, in 2018, Ketel One has launched their very first diet vodka, Ketel One Botanical which is distilled with real botanicals and infused with natural fruit essences.
Aug 21th, 2018: The global premium alcoholic beverages market is expected to register a CAGR of 9.8%, as per a new report published by Mordor Intelligence, LLP. Introduction of natural flavors in premium distilled spirits especially in vodka is attracting the health-conscious consumers to buy premium distilled spirits over non-premium distilled spirits across the globe.
Millennials are looking for diversity in their alcohol choices. Age effects, like being new to legal drinking, play a significant role to drive the premium spirit consumption across the globe. Majority of millennials population across the globe rejects mass-market alcoholic beverages consumptions which is rising popularity of premium alcoholic beverages especially premium wine and vodka from last few years.
Presence of large millennial consumer base in the Asia-Pacific region is encouraging key players of premium alcoholic beverages to expand their geographical presence and increase their consumer base in the region. Europe is the major market for premium wine owing to growing demand for premium wine in UK, Germany, Poland, and Switzerland. However, changing trade regulation due to Brexit is likely to hamper the premium alcoholic beverages market during the forecast period.
Key Insights from the Report:
To know more about the coverage of the Premium Alcoholic Beverages Market report, click the below link:
The report Premium Alcoholic Beverages Market- Segmentation by Type, By Distribution Channel, and By Geography
Premium Alcoholic Beverages Market by Type,
Premium Alcoholic Beverages Market by Distribution Channel,
Premium Alcoholic Beverages Market by Region,
Middle East & Africa
About Mordor Intelligence, LLP
Mordor Intelligence operates in the business of industry analysis & consulting, helping clients shape their strategic decisions. In today’s fast-paced and competitive business environment, every customer has a unique information requirement. Having understood this, we offer custom market intelligence and advisory services along with our syndicated reports, to help them gain an edge over the competition. We have successfully catered to over 500 clients across the following industries.
For more insights, please visit, https://www.mordorintelligence.com