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MARKET OUTLOOK

Triton Market Research speculates the United States alcoholic spirits market to witness a 3.44% of CAGR by revenue and 2.52% of CAGR by volume during the forecast years 2021-2026.

Whiskies witnessed particularly noticeable benefits from the premiumization trend in 2019, with the premium-oriented Japanese and single malt Scotch being the standout performers. And though Irish, American, and Canadian whiskies generally remained more moderately priced, all three boasted of rapidly growing premium segments as well.

Tito’s, after outperforming Smirnoff as the leading spirits brand in the country in 2018, cemented its position with strong sales growth in 2019. Tito’s has successfully positioned itself as a mass craft vodka brand, known for quality ingredients and the attention to detail of a small-scale producer, but with a wide distribution range and greater availability of its products.

Opportunities such as at-home cocktail mixing grew in popularity during the lockdown period, coupled with the innovative uses of the internet, such as online tasting events. The market, however, will need to take a very different approach to grow in the coming years. One of the ways is to prioritize home (and not the bar) as the innovation hub until on-trade channels are able to recover fully. 

COMPETITIVE OUTLOOK

The top contenders in the alcoholic spirits market include Suntory Holdings Ltd, Sazerac Co Inc, Pernod Ricard Groupe, Diageo Plc, Heaven Hill Distilleries Inc, Bacardi & Co Ltd, and Brown Forman Corp.