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Americas Spirits Sector Market Outlook with Case Studies of The Notch Single Malt 15 Year, Sheringham Distillery and Roaming Man Tennessee Straight Rye Whiskey
December 31, 2020 06:58 ET | Source: Research and Markets Research and Markets Dublin, IRELAND
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The global spirits sector was valued at US$823,604.3 million in 2019. Over the forecast period, the global spirits sector is expected to grow at a CAGR of 1.7% to reach US$894,041.4 by 2024. Americas was the second largest market in the global spirits sector with value sales of US$162,413.2 million, accounting for a value share of 19.7% in 2019. Americas is set to grow at a value and volume CAGR of 2.5% and 3.8%, respectively, during 2019-2024. Based on the relative performance of countries on multiple metrics, the US, Canada, Panama, and Colombia were shortlisted as high-potential countries, primarily due to the large spirits sector size, pro
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The global spirits sector was valued at US$823,604.3 million in 2019 and is expected to grow at a CAGR of 1.7% over 2019-2024 to reach US$894,041.4 by 2024. Western Europe held a value share of 12% in 2019. The region is expected to record a negative value CAGR of 1.2% during 2019-2024 on account of market maturity and slow population growth in the region. Based on the relative performance of countries on multiple metrics, the Netherlands, Ireland, the UK and Switzerland were shortlisted as high-potential countries, primarily due to the large spirits sector size, projected high-value growth rates.
The top five companies in the Western European spirits sector, Diageo plc, Pernod Ricard SA, Bacardi Limited, Davide Campari-Milano S.p.A. and Suntory Holdings Ltd accounted for a combined volume share of 24.5% in 2019. Meanwhile, private label products accounted for a volume share of 3.4% in the same year. Hypermarkets & supermarkets was the leading d