This market research report includes a detailed segmentation of the Nordic vodka market by product type (flavored and unflavored) and by distribution channel (on-trade and off-trade). A comprehensive analysis of the leading vendors such as DANZKA Vodka, Belvedere, Synergy, Christiania Spirits, and Global Drinks Finland is also included.
Technavio’s market research analysts estimate the vodka market in Nordic countries, to grow at a CAGR of around 4% between 2015 and 2019. The rising demand for premium vodka and the growing cocktail culture are the key drivers for the growth of the market. This region is witnessing a growth in bars exclusively dedicated for cocktails. Vendors in the region are introducing new products based on more natural ingredients and are adding more flavors to their existing product lines.
The new market research report from Technavio provides a breakdown and analysis of the vodka segments by technology.
“One of the interesting trends that this market is witnessing is the online retailing of alcoholic products. Customers can order alcoholic beverages from the websites of the government monopoly companies. Countries like Finland, Iceland and Sweden allow consumers to purchase alcoholic beverages from abroad, however they are required to pay domestic excise duties on them,” says Vijay Sarathi, Lead Analyst, Food & Beverages, Technavio Research.
The demand for flavored vodkas is rising in Nordic countries, and is expected to be the fastest-growing segment in the market. Recently, the producers have introduced vodkas with different flavors such as honey, lemon, peach, melon, berry, vanilla, and chocolate. For instance, Absolut has come up with vodkas flavored with different flavors such as mango, apple, grape, cherries, and hibiscus.
The leading vendors in the vodka market in Nordic countries include DANZKA Vodka, Belvedere, Synergy, Christiania Spirits, and Global Drinks Finland. The vodka market in Nordic countries, except Denmark, is dominated by government monopolized companies. This is deterring the entry of new players in the market as most of the alcoholic beverages are sold through government monopoly stores.
A more detailed analysis is available in the Technavio report, Vodka Market in Nordic Countries 2015-2019.
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