Spirits - United States

The Spirits market in United States has been experiencing steady growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: In the United States, there has been a shift in customer preferences towards premium and craft spirits. Consumers are increasingly seeking unique and high-quality products, and are willing to pay a premium for them. This trend is driven by a desire for more personalized and authentic experiences, as well as a growing interest in supporting local businesses. As a result, small-batch and artisanal spirits have gained popularity, with consumers seeking out products that are made with care and attention to detail.

Trends in the market: One of the key trends in the Spirits market in United States is the rise of flavored spirits. Flavored spirits, such as fruit-infused vodkas and botanical gins, have become increasingly popular among consumers looking for innovative and unique drinking experiences. This trend is driven by a desire for variety and experimentation, as well as a growing interest in mixology and craft cocktails. Manufacturers have responded to this trend by launching a wide range of flavored spirits, catering to different taste preferences and flavor profiles. Another trend in the market is the growing demand for premium spirits. Consumers in the United States are increasingly willing to spend more on high-quality spirits, particularly in the whiskey and tequila categories. This trend is driven by a desire for luxury and exclusivity, as well as a growing interest in savoring and appreciating the nuances of different spirits. As a result, premium spirits brands have seen strong growth in recent years, with consumers seeking out products that are aged longer, made with higher-quality ingredients, and have a unique and distinctive flavor profile.

Local special circumstances: The United States has a strong tradition and culture of spirits consumption, with a wide range of products available in the market. This has created a highly competitive landscape, with both domestic and international brands vying for market share. In addition, the United States has a large and diverse population, with different regions and states having their own unique drinking preferences and traditions. This has led to a fragmented market, with consumers in different parts of the country having different preferences for spirits.

Underlying macroeconomic factors: The growth of the Spirits market in United States is also influenced by underlying macroeconomic factors. The United States has a strong economy and a high disposable income, which has contributed to increased consumer spending on spirits. In addition, the United States has a well-developed distribution network, with a wide range of retail outlets and online platforms available for consumers to purchase spirits. This has made it easier for consumers to access and discover new spirits products, driving market growth. Overall, the Spirits market in United States is experiencing growth due to changing customer preferences towards premium and craft spirits, the rise of flavored spirits, and the growing demand for luxury and exclusivity. The local special circumstances, such as the competitive landscape and regional drinking preferences, also play a role in shaping the market. Additionally, the underlying macroeconomic factors, including a strong economy and well-developed distribution network, contribute to the market's growth.

Data coverage:
The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

Modeling approach:
Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on alcoholic beverages, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.