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Global Vodka Market Size, Share, Growth, Demand, Trends: By Type: Plain Vodka, Flavoured Vodka, Fruit Vodka; By Quality: Standard, Premium, Ultra-Premium; By Distribution Channel: Off Trade, On Trade; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032
Global Vodka Market Outlook
The global vodka market size was around USD 40.12 billion in the year 2023. The market is estimated to grow at a CAGR of 6.7% between 2024 and 2032, reaching a value of nearly USD 71.92 billion by 2032.
Vodka is a clear and colourless distilled liquor with an alcoholic content of about 40 to 55 percent. It is mainly composed of water and ethanol with the occasional inclusion of flavourings. The beverage, which originated in Russian, Polish, or Swedish regions, was traditionally made by distilling liquid from fermented cereal grains.
One of the defining characteristics of vodka is its purity. The distillation process is aimed at removing as much impurity as possible. This results in a beverage that is almost neutral in flavour and aroma. Vodka is known for its versatility in mixology. Due to its neutral character, it blends well with a wide range of other flavours, making it a popular base for many cocktails.
Flavoured vodkas have added ingredients or infusions for a distinct taste. Common flavours include citrus, berry, and vanilla, whereas premium vodkas are high-quality vodkas, often distilled more times or using special filtration processes for a smoother taste.
Key Trends in the Market
Growing consumption of alcoholic beverages by Millennials
Millennials are a key demographic in the market, particularly influencing the rise in demand for innovative and ready-to-drink (RTD) vodka-based beverages. Their preferences for new flavours and experiences in social settings such as restaurants and bars are reshaping the dynamics of the alcoholic beverages market.
Vodka was traditionally a flavourless drink but the demand for flavoured vodka has seen an upward trend in recent times. Flavours like cranberry, lime, and raspberry are witnessing a surge in popularity and propelling the vodka market demand. This can be attributed to the increasing social media influence and rising consumer demand for innovative products and new flavours.
Key manufacturers are focusing on offering a variety of vodka products including those in the ‘ready-to-shake’ drinks category. For example, new product lines include unique flavours and cocktail-ready options that cater to evolving consumer tastes.
Growing trend of infused vodka drinks
The alcoholic beverages companies and distilleries have realised the potential of vodka as a cocktail drink and hence, are heavily investing in the procurement of quality ingredients to develop a range of sophisticated and lightly sparkling drinks, expanding their business potential. The global demand for these infused drinks is going to be a major factor in the vodka market growth. The infusion process, where various ingredients like fruits, herbs, spices, or even candy are steeped in vodka, imparts unique tastes and aromas to the liquor.
Consumers' growing health awareness is driving the popularity of low-alcohol-by-volume (ABV) spirits. This trend is also bolstering the demand for infused vodka drinks that are seen as a healthier alternative to traditional high-ABV spirits. Furthermore, the rise of craft cocktail culture has encouraged both professional bartenders and home enthusiasts to experiment with different infusion combinations, further boosting the vodka market value. People enjoy the process of making their own infusions, which adds a personal touch to their beverages.
The burgeoning popularity of ready-to-serve canned cocktails
To appeal to the youth, brands have started to focus on the research and production of ready-to-drink (RTS) vodka products, precisely ready-to-serve canned cocktails. This step can be seen as a game changer as it will put the beverage right in competition with other popular canned alcoholic drinks such as beer.
RTS vodka products also offer unparalleled convenience. They eliminate the need for mixing and measuring, making it easy for consumers to enjoy a high-quality cocktail experience without the hassle of preparing drinks from scratch. This appeals especially to those who are new to cocktail making or who want a quick and easy option for social gatherings.
The canned alcoholic beverages market has seen a surge in the variety of flavours and types of RTS vodka products, ranging from classic cocktails to innovative new blends. This variety caters to a broad range of palates and preferences, encouraging consumers to try new flavours and combinations.
Vodka Market Segmentation
Vodkas are available in different forms and variants to suit consumer preferences. Based on type, the market can be divided into plain vodka, flavoured vodka, and fruit vodka. On the basis of quality, the different varieties available in the market include standard, premium, and ultra-premium vodkas. The market segmentation based on region includes North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter’s five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global vodka market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.
- Diageo PLC
- Pernod Ricard Group
- Grey Goose
- Polmos Å»yrardów Sp. z o.o.
- William Grant & Sons Ltd.
- Stoli Group USA, LLC
- Russian Standard Vodka LLC
- Brown-Forman
- Fifth Generation, Inc.
- Wodka Company Ltd
- Others
Global Vodka Market Analysis
The global market is significant and diverse, encompassing a wide range of brands and products. There's a noticeable shift towards premium and craft vodka, with an increasing demand for unique and high-quality products. Flavoured vodka varieties continue to be popular, catering to a wider audience seeking diverse taste experiences. Health-conscious consumers are also influencing the market, with a growing interest in low-calorie and low-alcohol options.
While traditional markets like Eastern Europe (especially Russia and Poland) remain strongholds for vodka consumption, significant growth is observed in regions like North America and the Asia Pacific. These areas are experiencing increased demand due to changing consumer tastes and the influence of Western drinking cultures.
The market is competitive with a mix of large multinational brands and smaller craft distilleries. Key players are focusing on brand differentiation, innovative marketing strategies, and expanding product lines to capture market share.
Market Share by Quality
Ultra-premium vodkas are produced with the highest quality raw materials and ingredients, such as the best winter wheat or a carefully chosen mix of heritage grains, using improved production techniques and high-end packaging. Brands use distinctive bottles that are sleek and eye-catching to offer customers a premium feel. Some of these premium vodka brands include Absolut Elyx, Grey Goose, and Belvedere. However, since these are quite expensive, only a few consumers can afford the same.
Meanwhile, premium vodkas are mostly used in bars and pubs to make infused drinks or cocktails and are relatively cheaper. The standard vodkas, on the other hand, are the cheapest and hence used for home consumption mostly by low-income groups.
Vodka Market Share by Region
The regions such as North America and Europe are the major shareholders in the global market due to increased acceptance of alcoholic beverages in the region and their preference as an after-dinner drink in the USA, which contributes to the US vodka market revenue.
Meanwhile, the market demand from the Asia Pacific region is expected to grow immensely in the upcoming years, due to the growing economies of India, China, and Japan, and the latest trends in plain vodka consumption in these countries, supported by growing Western influence and the presence of a large customer base. However, growing concerns over unhealthy drinking habits among the new generation can be a staggering issue.
Competitive Landscape
Fifth Generation, Inc., founded in Austin, Texas, in 1997, developed their premium vodka brand named TITO’s Vodka which specialises in vodka production from yellow corn. In 2021, Tito’s Vodka remained one of the most popular brands in the United States vodka market, selling roughly 11 million 9-litre cases.
Diageo PLC is a British company that owns and produces Smirnoff vodka. Smirnoff’s first vodka distillery was opened in Moscow back in 1831. Smirnoff carries its operations in almost 130 countries, and its products include a wide range of vodkas including various flavoured and non-flavoured vodkas.
Grey Goose is a French Vodka brand that was started by an American businessman in 1990. The company was later sold to a multinational company Bacardi in 2004. Grey Goose managed to sell 3.9 million 9 liter cases in the year 2021, which was an increase of a million 9 liter cases when compared to the previous year.
Other players in the vodka market include Pernod-Ricardo group, Polmos Å»yrardów Sp. z o.o., William Grant & Sons Ltd., Bacardi, Russian Standard Vodka LLC, Brown Forman, and Woodka Company Ltd, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Quality |
|
| Breakup by Distribution Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Vodka Market Analysis
8.1 Key Industry Highlights
8.2 Global Vodka Historical Market (2018-2023)
8.3 Global Vodka Market Forecast (2024-2032)
8.4 Global Vodka Market by Type
8.4.1 Plain Vodka
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Flavoured Vodka
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Fruit Vodka
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.5 Global Vodka Market by Quality
8.5.1 Standard
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Premium
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Ultra-Premium
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.6 Global Vodka Market by Distribution Channel
8.6.1 Off Trade
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 On Trade
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.7 Global Vodka Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Vodka Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Vodka Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Vodka Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Vodka Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Vodka Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Trade Data Analysis (HS Code – 220860)
16.1 Major Exporting Countries
16.1.1 By Value
16.1.2 By Volume
16.2 Major Importing Countries
16.2.1 By Value
16.2.2 By Volume
17 Price Analysis
18 Competitive Landscape
18.1 Market Structure
18.2 Company Profiles
18.2.1 Diageo PLC
18.2.1.1 Company Overview
18.2.1.2 Product Portfolio
18.2.1.3 Demographic Reach and Achievements
18.2.1.4 Certifications
18.2.2 Pernod Ricard Group
18.2.2.1 Company Overview
18.2.2.2 Product Portfolio
18.2.2.3 Demographic Reach and Achievements
18.2.2.4 Certifications
18.2.3 Grey Goose
18.2.3.1 Company Overview
18.2.3.2 Product Portfolio
18.2.3.3 Demographic Reach and Achievements
18.2.3.4 Certifications
18.2.4 Polmos Żyrardów Sp. z o.o.
18.2.4.1 Company Overview
18.2.4.2 Product Portfolio
18.2.4.3 Demographic Reach and Achievements
18.2.4.4 Certifications
18.2.5 William Grant & Sons Ltd.
18.2.5.1 Company Overview
18.2.5.2 Product Portfolio
18.2.5.3 Demographic Reach and Achievements
18.2.5.4 Certifications
18.2.6 Stoli Group USA, LLC
18.2.6.1 Company Overview
18.2.6.2 Product Portfolio
18.2.6.3 Demographic Reach and Achievements
18.2.6.4 Certifications
18.2.7 Russian Standard Vodka LLC
18.2.7.1 Company Overview
18.2.7.2 Product Portfolio
18.2.7.3 Demographic Reach and Achievements
18.2.7.4 Certifications
18.2.8 Brown‑Forman
18.2.8.1 Company Overview
18.2.8.2 Product Portfolio
18.2.8.3 Demographic Reach and Achievements
18.2.8.4 Certifications
18.2.9 Fifth Generation, Inc.
18.2.9.1 Company Overview
18.2.9.2 Product Portfolio
18.2.9.3 Demographic Reach and Achievements
18.2.9.4 Certifications
18.2.10 Wodka Company Ltd
18.2.10.1 Company Overview
18.2.10.2 Product Portfolio
18.2.10.3 Demographic Reach and Achievements
18.2.10.4 Certifications
18.2.11 Others
19 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Vodka Market: Key Industry Highlights, 2018 and 2032
2. Global Vodka Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Global Vodka Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global Vodka Historical Market: Breakup by Quality (USD Billion), 2018-2023
5. Global Vodka Market Forecast: Breakup by Quality (USD Billion), 2024-2032
6. Global Vodka Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2023
7. Global Vodka Market Forecast: Breakup by Distribution Channel (USD Billion), 2024-2032
8. Global Vodka Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global Vodka Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America Vodka Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Vodka Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe Vodka Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe Vodka Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific Vodka Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific Vodka Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America Vodka Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America Vodka Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa Vodka Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa Vodka Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Major Exporting Countries by Value
21. Major Importing Countries by Value
22. Major Exporting Countries by Volume
23. Major Importing Countries by Volume
24. Global Vodka Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 40.12 billion.
The market is expected to grow at a CAGR of 6.7% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 71.92 billion by 2032.
The major market drivers are the increasing preference of flavoured vodka among the young generation, the use of vodka in cocktails, and the rising consumer disposable income, along with the growing culture of clubbing.
Companies are actively shifting towards the production of flavoured vodkas and procurement of quality materials to make vodkas or infused cocktails and spirits, which are the key trends guiding the market growth.
Russia is known to consume more vodka than any other country in the world.
Vodka accounts for a healthy share of the global alcohol market, with its sales volume increasing by several million cases and contributing to the total liquor sales.
The key players in the market are Diageo PLC, Pernod Ricard Group, Grey Goose, Polmos Zyrardow Sp. z o.o., William Grant & Sons Ltd., Stoli Group USA, LLC, Russian Standard Vodka LLC, BrownForman, Fifth Generation, Inc., and Wodka Company Ltd, among others.
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