Vodka is basically an alcoholic beverage prepared through the distillation process. The raw material used for the preparation of vodka is starch, wheat, different fruits for flavor, and others. Traditionally made vodkas contain a 38% alcoholic content. Vodka was originated from Russia and Poland. Vodka is usually utilized in cocktails since it is colorless and has a clean taste that pairs well with any kind of flavor. Gin is also a vodka that has been flavored with some of the spice extracts, such as juniper berries. Vodka & Gin are two of the most popular drinks in the world.
MARKET SCOPE
The "Global Vodka Market Analysis to 2028" is a specialized and in-depth study of the food and beverage industry with a special focus on the global market trend analysis. The report aims to provide an overview of the vodka market with detailed market segmentation by type, application, and geography. The report provides key statistics on the market status of the leading vodka market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on type, the global vodka market is segmented into plain and flavored
- Based on distribution channel, the market is bifurcated into supermarkets and hypermarkets, specialty stores, online retail, and others
MARKET DYNAMICS
Drivers
- Increasing consumption of alcoholic beverages among millennials
- Increasing bars, pubs, and restaurants serving alcohol in daily basis
- Innovation in flavours for vodka by manufacturers
Restraints
- Regulations on alcoholic beverages
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The vodka market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the vodka market in these regions.
IMPACT OF COVID-19 ON VODKA MARKET
As of June 2021, the US, India, Brazil, Russia, Spain, France, the UK, Turkey, and Italy, are some of the worst affected countries in terms of confirmed cases and reported deaths. The COVID-19 is affecting economies and several industries in different countries due to lockdowns, travel bans, and business shutdowns. The shutdown of various manufacturing plants and factories has also been affected the global supply chains also negatively impacted the manufacturing, delivery schedules, and sales of goods in the global market. In addition, the global travel bans further imposed by countries in Europe, Asia-Pacific, and North America are also affecting business collaborations as well as partnership opportunities.
Due to the Covid-19 pandemic, the food and beverage industry is also facing huge losses, which is further impacting the world economy. It has further disrupted the transportation system and disrupted the supply of raw materials. The disruptive value chain has had a negative impact on the raw material supply, which, in turn, is impacting the growth of the vodka market. However, as the economies are planning to revive their operations, the demand for vodka is presumed to rise since consumers are buying food and beverage products through online retailers. In addition, food & beverage producing companies are also taking some safety measures to fight the coronavirus, which include limiting direct contact with delivery person & visitors, strengthening & communicating proper hygiene practices, and conducting complete sanitations & eliminating personnel contact during shift changes. With all these factors, it can be presumed that in post-pandemic times, the demand for these products will take a hike.
MARKET PLAYERS
The report covers key developments in the vodka market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from vodka market are anticipated to witness lucrative growth opportunities in the future with the rising demand for vodka in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the vodka market. In addition, the report focuses on leading industry players with information such as company profiles, products, and services offered, financial information of the last 3 years, the key developments in the last five years.
- UB Group
- Brown-Forman Corporation
- Pernod Ricard
- Global Spirits
- Nemiroff Holding
- Bacardi Limited
- Canadian Iceberg Vodka Corporation
- Campari Group
- LVMH group
- Diageo plc
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.