London, 13 August 2015: Technavio, the independent tech-focused global research firm, has published a report on the global vodka market 2015-2019, which is likely to grow at a steady CAGR of 2.1% during 2014-2019.
The market is boosted by the increase in disposable income across the world. Consumers are drinking premium vodka as a status symbol, generally sold in high-end restaurants, night clubs, casinos, and by special order. Vodka lovers are willing to pay high prices to enjoy the unique taste of unparalleled luxury vodka. The high demand for premium vodka among consumers is because of its superior smoothness and mouthfeel, which make it perfect for sipping.
“The global vodka market is fueled by the increased consumption in emerging economies such as China and India,” says Faisal Ghaus, Vice President of Technavio.
“The rise in disposable income and changes in social and cultural lifestyles will strengthen the vodka market in APAC, making it the most potential market during the forecast period.”
Key Market Drivers
- Growing Cocktail Culture
- Premiumization
- Increase in Demand among Millennials in US
Key Market Trends
- Increasing Demand for Healthy Vodka
- Growing Demand for Flavored Vodka
- Rising Exports
- Rise in Consumption in APAC
Key Market Vendors
- Belvedere
- Brown-Forman
- Diageo
- Gruppo Campari
- Pernod Ricard
- RSV
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
