Global Dark Spirits Market is Segmented By Type (Whiskey, Rum, Brandy, Others), By Distribution Channel (On Trade, Off Trade), By Application (Bars, Restaurants, Pubs, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Dark Spirits Market Overview
Global Dark Spirits Market reached USD 85.3 million in 2022 and is expected to reach USD 132.9 million by 2031 and is expected to grow with a CAGR of 5.7% during the forecast period 2024-2031. The global market for dark spirits, including brown spirits, aged spirits, whiskey, scotch whisky, bourbon, rye whiskey, dark rum, cognac, and brandy, is experiencing remarkable growth. The evolving consumer preferences and a growing customer base are driving the increasing demand for dark spirits. Consumers, particularly the millennial and younger demographics, are seeking unique and sophisticated flavors offered by a wide range of dark spirits.
The rising disposable income and purchasing power of consumers, especially in emerging markets, are enabling them to indulge in premium and high-quality alcoholic beverages like dark spirits. Additionally, the perception of dark spirits as symbols of status, luxury, and indulgence is further driving the global dark sprits market size.
Manufacturers and distilleries are expanding their product portfolios to cater to the growing demand, exploring innovative flavors and expressions within the dark spirits category. This ongoing expansion is expected to continue as more consumers embrace the diverse range of flavors and experiences offered by these premium alcoholic beverages.
Dark Spirits Market Summary
| Metrics | Details |
| CAGR | 5.7% |
| Size Available for Years | 2022-2031 |
| Forecast Period | 2024-2031 |
| Data Availability | Value (US$) |
| Segments Covered | By Type, By Application, By Distribution Channel |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle East & Africa |
| Fastest Growing Region | Asia-Pacific |
| Largest Region | North America |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis, and Other key Insights. |
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Dark Spirits Market Dynamics
Consumers’ Growing Preference for Unique and Sophisticated Flavors
Consumers' increasing preference for distinctive flavours is driving the global dark spirits market. The ability to experiment with ingredients and flavour profiles has helped craft spirits, which are made in small batches, becoming more popular. The demand for distinctive flavours has also been influenced by experimental expressions and limited-edition releases. The large group of people are actively seeking out for dark spirits like whisky, scotch whisky, bourbon, rye whisky, dark rum, cognac, and brandy, which are known for their complex and varied flavour profiles.
For instance, on July 03, 2023, Chhota Hazri Spirits launched Baagh, a modern Indian craft gin that combines exceptional taste with a strong purpose, in the vibrant markets. Distilleries and brands react to this trend by launching fresh products, utilising cutting-edge production techniques, and implementing marketing plans to position their dark spirits as premium options.
The Increased Demand for Dark Spirits in Food & Beverage Industry
The food and beverage industry has witnessed a surge in the demand for dark spirits, such as whiskey, rum, and brandy. This can be attributed to several factors, including the rich flavors and complexities that dark spirits offer, appealing to consumers seeking unique drinking experiences. Additionally, their association with craftsmanship and heritage, traditional production methods, and aging in wooden barrels. Dark spirits also find favor in mixology and cocktail culture, as they blend well with various ingredients, enabling bartenders to create a wide array of classic and innovative drinks.
For instance, on May 4, 2023, Oregon-based Wheyward Spirit, launched new barrel aged spirit: Wheyskey. Wheyward Spirit is a spirit for people who value a flexible, intricate, and savorable drinking experience. It is a version of the double-gold award-winning Wheyward Spirit that has been aged in barrels, allowing the distinctive flavour that is created naturally during the fermentation and distillation process to fully blossom and mature through oak ageing.
The Excessive Consumption of Dark Spirits.
The excessive consumption of dark spirits poses challenges to the market, impacting various stakeholders. It raises health concerns, including liver damage and addiction, leading to decreased consumer confidence. Strict government regulations, such as higher taxes and restricted availability, are negatively affecting market growth.
Dark Spirits Market Segmentation Analysis
The global dark spirits market is segmented based on type, application, distribution channel and region.
In the Global Market of Dark Spirits, the Whiskey Segment Holds the Largest Market Share.
Whiskey's versatility allows it to cater to a wide range of consumer preferences and drinking occasions. The increasing consumer appreciation for its diverse flavors and heritage, the rise of whiskey culture and events, the appeal of premium and luxury offerings, expanding global market penetration, its role in mixology and cocktails, and its emergence as an investment asset class. This growth reflects evolving consumer preferences and presents opportunities for both established and emerging whiskey brands in the market.
The growth of the whiskey segment in the global dark spirits market has attracted the attention of several prominent manufacturers. Leading whiskey producers such as Diageo and Pernod Ricard have expanded their portfolios and invested in innovative distillation techniques, while emerging players like Suntory and Beam Suntory have gained recognition for their high-quality offerings, contributing to the overall expansion of the whiskey segment. For instance, on March 27, 2023, Fettecairn’s ‘Warehouse launched Scotch whisky, single malt, Highlands, 51.2% ABV.
Dark Spirits Market Geographical Share
Asia Pacific Region Held the Largest Share in Dark Spirits Market.
In 2022, the Asia Pacific region accounted for approximately 42.1% of the market share in the global dark spirits market. The high disposable income of developing nations like China and India and the expanding consumption of whiskey in Japan is expected to propel the industry forward in the forecasted period. Furthermore, there has been a significant increase in people who want to try new tastes and flavors, resulting in increased demand for craft whiskies.
According to a recent study published by Medical Journal Lancet in May 2022, the dark spirits consumption in India has witnessed a significant increase over the past three decades. The analysis revealed that the highest consumption rates were observed among men aged 40-64 years, with alcohol consumption rising by 5.63%. Additionally, the 15-39 age group experienced a notable increase of 5.24%, while for the elderly population, the increase stood at 2.88%.
Dark Spirits Companies and Competitive Landscape
The major global players in the market include Diageo, Suntory Holdings, Bacardi Limited, LT Group, Inc, The Brown-Forman Corporation, Permod Richard, Krin Holdings, Ashai Group Holdings, Remy Cointreau, and Anheuser-Busch InBev.
COVID-19 Impact on Dark Spirits Market
Global Recession/Ukraine-Russia War/COVID-19, and Artificial Intelligence Impact Analysis
Covid-19 Impact
The COVID-19 pandemic had a mixed impact on the dark spirits industry. Initially, it caused disruptions with lockdowns and reduced consumer spending, leading to closures of bars and restaurants. However, there was a shift to off-premise consumption as consumers purchased dark spirits from retail stores and online platforms. Home mixology and cocktail culture also surged, increasing sales of dark spirits for homemade creations. Premiumization and collectibles saw growth, while global supply chain challenges affected production and distribution. As restrictions eased, the industry started to recover with the reopening of establishments, but recovery varies across regions. Overall, the dark spirits industry has adapted by implementing safety measures, leveraging digital platforms, and catering to changing consumer preferences.
Key Developments
- On December 28, 2022, Death Wish Coffee Co. launched a Dark Spirits: Barrel-Aged Mint Chocolate Whiskey. This whiskey barrel-aged coffee transports beings into an otherworldly realm filled with flavors of mint, whiskey and sweet chocolate.
- On June 2, 2021, Coca-Cola launched mixers for dark spirits. The brand collaborated with a select group of top mixologists who utilized over 200 contemporary and traditional ingredients to experiment with the distinct flavor of the soft drink.
- On June 15, 2023, Stella Rosa is a selection of semi-sweet, semi-sparkling Italian wines launched their premium imported flavored brandy portfolio: Stella Rosa Smooth Black, Tropical Passion, and Honey Peach Brandy (SRP: $29.99/750ml).
Why Purchase the Report?
- To visualize the global dark spirits market segmentation based on type, application, distribution channel, and region, as well as understand key commercial assets and players.
- Identify commercial opportunities in the market by analyzing trends and co-development.
- Excel data sheet with numerous data points of dark spirits market-level with all segments.
- The PDF report consists of cogently put-together market analysis after exhaustive qualitative interviews and in-depth market study.
- Product mapping is available as Excel consists of key products of all the major market players.
The global dark spirits market report would provide approximately 93 tables, 109 figures and 190 Pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
