Liquor Segment Is The Largest Segment Driving The Growth Of Distilled Spirits Market
Distilled Spirits Market The global Distilled Spirits Market is estimated to be valued at US$ 31.99 Bn or in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030 , as highlighted in a new report published by Coherent Market Insights. Market Overview Distilled spirits products refer to alcoholic beverages produced by distilling ethanol produced by fermenting grain, fruit, or vegetables and then bottling with an alcohol concentration of over 20%. Distilled spirits are popular due to their portability, high alcohol content, and variety of tastes. Market key trends: The rise in alcohol consumption coupled with growing young drinking population especially in developing regions is propelling the growth of the global distilled spirits market. According to the Global Status Report on Alcohol and Health by WHO, global per capita alcohol consumption reached 6.4 liters of pure alcohol among adults aged 15 years and older in 2016. Another key trend con...