The Ardent Spirits Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the Ardent Spirits Market is estimated to be USD XX.XX billion in 2016 and predicted to rise to USD XX.XX billion by 2021 with a CAGR of X.XX%. The market is segmented by Applications (Supermarket, Monopoly Stores and Online Sales), by Type (Gin, Whisky, Brandy, Vodka, Rum, Tequilla, Baijiu and Sake). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.
The major drivers of the Ardent Spirits market are the increasing consumer demand for alcoholic beverages and the favourable government policies. The major demand for the same comes from hotels, bars and even convenience stores selling alcoholic drinks. As for the restraints of the market, the high degree of taxation on alcoholic products and their high costs in general and major turnoffs for the market. Also the dangers posed by improper preparation also hamper the market growth.
The leading category in the Ardent Spirits market is the supermarket sales. The major sales for alcoholic drinks is done in supermarkets. The segment is also expected to show the highest growth rate in the forecast years.
The Ardent Spirits Market is dominated by North America in 2016 with the region accounting for 36% of the overall market share. North America was followed next in line by Europe and Asia-Pacific. Asia-Pacific is expected to grow rapidly in the coming years as is evident from the high CAGR value for the region. Another promising region for the market is Latin America, which is expected to show high growth rates in coming years.
High investment from top players and increasing R&D spending are likely to provide ample opportunities to the industry players across regions. Key market players include Diageo, LVMH, Brown Forman, Absolut, Bacardi Limited, Perood Ricard, The Patron Spirit Company, Beam Suntory and Mast gagermeister.
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