Product Code: A31828
The global bourbon spirits market was valued at $7,774.1 million in 2021 and is projected to reach $12,781.6 million by 2031, growing at a CAGR of 5.0% during the forecast period from 2022 to 2031. North America is one of the major consumer regions in the global marketplace that solely accounted for more than 35% of the overall bourbon spirits market in 2021. The impact of COVID-19 has been unprecedented and impeding the market growth throughout the pandemic period. It is expected that the market will set back to its previous growth trend over the next couple of years.
The market growth is driven by the rise in demand for premium and luxury whiskey as a result of premiumization and socialization. The rise in demand for high-premium whiskeys due to changes in consumer tastes, rise in standard of living globally, and inclination towards innovative products is expected to drive the growth of the global bourbon spirits market during the forecast period. In order to engage tech-savvy young consumers that seek greater value for money, more personalization, and integrated digital access, luxury whiskey variants such as American whiskey and Bourbon whiskey have started to develop accurate social media platforms to expand consumer reach. Furthermore, millennia also value quality, authenticity & provenance, and hence are willing to pay more to enjoy premium bourbon whisky.
Premiumization remains to be one of the major factors projected to drive the growth of the alcoholic beverages industry. The demand for premium cocktails is attributed to increase in the trend of mixed drinks and crafted cocktails. Pre-mixed and fresh cocktail manufacturers are utilizing natural colorants & flavors and favoring premium ingredients to meet the natural appeal of the drink. Bourbon spirits/whiskeys are popular for their natural taste and offer earthy appeal to the drink and most of the on-trade counters are utilizing a huge quantity of bourbon spirits to make premium drinks.
According to the report published by the Bacardi Cultural Insights Network 2021, 37% of bartenders voted spirits as the top mixer globally that premiumize cocktails and other alcoholic drinks. The emergence of modern on-trade channels in developing economies and the upsurge in disposable income further ensure higher consumption of spirits-based cocktails, thus contributing toward the growth of the global bourbon spirits market.
The hunt for authenticity while drinking has been possible due to improved awareness of the service being provided to offer bourbon whisky in the on-trade counters and the rise in the spending power of consumers in developing economies. Moreover, consumers continue to support quality over quantity, which is directly positively impacting the sales of premium spirits such as bourbon spirits. According to the Distilled Spirits Council of the U.S. (DISCUS) 2021, the sale of RTD (ready-to-drink) spirits rose by 39.1%, and the trend is expected to continue over the next five years. The steadily increasing consumption of the growing premium & luxury spirits category and rising rapid modernization in developing economies is further expected to boost the demand for premium bourbon spirits products in the market.
Moreover, the economic improvement of the middle-class population influences buying preferences across the globe, which, in turn, contributes toward the growth of the market. According to the data by Drizly 2020 (an alcohol e-commerce platform in the U.S.), spirits were the second largest category in terms of premium in the overall alcoholic beverages market. The economic improvement of the middle-class population has influenced their buying preferences across the globe. Thus, the evolving preferences to search for premium appeal are expected to continue to drive the growth of the global bourbon spirits market.
The bourbon spirit market is segmented into type, ABV, distribution channel, and region. By type, the market is segregated into wheated, barrel finished, barrel select, and others. Depending on alcohol-by-volume (ABV), it is segmented into 40-45%, 46-55%, and 56% and above. Based on distribution channel, it is fragmented into on-trade (hotel, bar, pub, and others) and off-trade (supermarkets/hypermarkets, convenience stores, specialty stores, online retailers, and others). Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the key players profiled in the bourbon spirits market analysis include: Suntory Holdings Limited, Brown-Forman Corporation, MGP Ingredients, Inc., Laws Whiskey House, Conecuh Brands, LLC, Distiller's Way, LLC, Sazerac Company, Inc, Kirin Holdings Company, Limited, Bacardi Limited., Michters Distillery LLC., Heaven Hill Brands, Nashville Barrel Company, Bardstown Bourbon Company, Wyoming Whiskey, Inc., and Jos. A. Magnus & Co.
Bourbon Spirits Market Segments
By Type
- Wheated
- Barrel Finished
- Barrel Select
- Others
By ABV
- 40-45%
- 46-55%
- 56% and above
By Distribution Channel
- On-trade
- Hotel
- Bar
- Pub
- Others
- Off-trade
- Hypermarkets/ Supermarkets
- Convenience Stores
- Specialty stores
- Online Retailers
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- France
- Germany
- Italy
- Spain
- UK
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
KEY MARKET PLAYERS PROFILED IN THE REPORT
- Suntory Holdings Limited
- The Brown-Forman Corporation
- Mgp Ingredients, Inc.
- Laws Whiskey House
- Conecuh Brands, Llc
- Distiller's Way, Llc
- Sazerac Company, Inc
- Kirin Holdings Company, Limited
- Bacardi Limited
- Michters Distillery Llc.
- Heaven Hill Brands
- Nashville Barrel Company
- Bardstown Bourbon Company
- Wyoming Whiskey, Inc.
- Jos. A. Magnus And Co.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the bourbon spirits market analysis from 2021 to 2031 to identify the prevailing bourbon spirits market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the bourbon spirits market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global bourbon spirits market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Barrel Finished
- Barrel Select
- Others
- Wheated
By ABV
- 40-45%
- 46-55%
- 56% and above
By Distribution Channel
- On-trade
- Sub-segment
- Hotel
- Bar
- Pub
- Others
- Off-trade
- Hypermarkets/ supermarkets
- Hypermarkets/ supermarkets
- Convenience Stores
- Speciality stores
- Online Retailers
- Others
By Region
- North America
- Europe
- France
- Germany
- Italy
- Spain
- UK
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players:
- Brown-Forman Corporation
- Suntory Holdings Limited
- Conecuh Brands, LLC
- Distiller's Way, LLC
- Laws Whiskey House
- MGP Ingredients, Inc.
- Bardstown Bourbon Company
- Wyoming Whiskey, Inc.
- Jos. A. Magnus & Co.
- Kirin Holdings Company, Limited
- Bacardi Limited.
- Nashville Barrel Company
- Heaven Hill Brands
- Michters Distillery LLC.
- Sazerac Company, Inc
TABLE OF CONTENTS
CHAPTER 1: INTRODUCTION
- 1.1. Report description
- 1.2. Key market segments
- 1.3. Key benefits to the stakeholders
- 1.4. Research Methodology
- 1.4.1. Primary research
- 1.4.2. Secondary research
- 1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
- 3.1. Market definition and scope
- 3.2. Key findings
- 3.2.1. Top impacting factors
- 3.2.2. Top investment pockets
- 3.3. Porter's five forces analysis
- 3.3.1. Bargaining power of suppliers
- 3.3.2. Bargaining power of buyers
- 3.3.3. Threat of substitutes
- 3.3.4. Threat of new entrants
- 3.3.5. Intensity of rivalry
- 3.4. Market dynamics
- 3.4.1. Drivers
- 3.4.1.1. Rise in spirit tourism
- 3.4.1.2. Wide utilization of gin in premium cocktails
- 3.4.1.3. Surge in demand for premium ready-to-drink and luxury spirits
- 3.4.2. Restraints
- 3.4.2.1. Stringent regulations over advertisement
- 3.4.3. Opportunities
- 3.4.3.1. Exploring demand in Asia-Pacific region
- 3.4.3.2. Introduction of craft spirits
- 3.5. COVID-19 Impact Analysis on the market
- 3.6. Market Share Analysis
- 3.7. Regulatory Guidelines
CHAPTER 4: BOURBON SPIRITS MARKET, BY TYPE
- 4.1. Overview
- 4.1.1. Market size and forecast
- 4.2. Wheated
- 4.2.1. Key market trends, growth factors and opportunities
- 4.2.2. Market size and forecast, by region
- 4.2.3. Market share analysis by country
- 4.3. Barrel Finished
- 4.3.1. Key market trends, growth factors and opportunities
- 4.3.2. Market size and forecast, by region
- 4.3.3. Market share analysis by country
- 4.4. Barrel Select
- 4.4.1. Key market trends, growth factors and opportunities
- 4.4.2. Market size and forecast, by region
- 4.4.3. Market share analysis by country
- 4.5. Others
- 4.5.1. Key market trends, growth factors and opportunities
- 4.5.2. Market size and forecast, by region
- 4.5.3. Market share analysis by country
CHAPTER 5: BOURBON SPIRITS MARKET, BY ABV
- 5.1. Overview
- 5.1.1. Market size and forecast
- 5.2. 40-45%
- 5.2.1. Key market trends, growth factors and opportunities
- 5.2.2. Market size and forecast, by region
- 5.2.3. Market share analysis by country
- 5.3. 46-55%
- 5.3.1. Key market trends, growth factors and opportunities
- 5.3.2. Market size and forecast, by region
- 5.3.3. Market share analysis by country
- 5.4. 56% and above
- 5.4.1. Key market trends, growth factors and opportunities
- 5.4.2. Market size and forecast, by region
- 5.4.3. Market share analysis by country
CHAPTER 6: BOURBON SPIRITS MARKET, BY DISTRIBUTION CHANNEL
- 6.1. Overview
- 6.1.1. Market size and forecast
- 6.2. On-trade
- 6.2.1. Key market trends, growth factors and opportunities
- 6.2.2. Market size and forecast, by region
- 6.2.3. Market share analysis by country
- 6.2.4. On-trade Bourbon Spirits Market by Sub-segment
- 6.2.4.1. Hotel Market size and forecast, by region
- 6.2.4.2. Bar Market size and forecast, by region
- 6.2.4.3. Pub Market size and forecast, by region
- 6.2.4.4. Others Market size and forecast, by region
- 6.3. Off-trade
- 6.3.1. Key market trends, growth factors and opportunities
- 6.3.2. Market size and forecast, by region
- 6.3.3. Market share analysis by country
- 6.3.4. Off-trade Bourbon Spirits Market by Hypermarkets/ supermarkets
- 6.3.4.1. Hypermarkets/ supermarkets Market size and forecast, by region
- 6.3.4.2. Convenience Stores Market size and forecast, by region
- 6.3.4.3. Speciality stores Market size and forecast, by region
- 6.3.4.4. Online Retailers Market size and forecast, by region
- 6.3.4.5. Others Market size and forecast, by region
CHAPTER 7: BOURBON SPIRITS MARKET, BY REGION
- 7.1. Overview
- 7.1.1. Market size and forecast By Region
- 7.2. North America
- 7.2.1. Key trends and opportunities
- 7.2.2. Market size and forecast, by Type
- 7.2.3. Market size and forecast, by ABV
- 7.2.4. Market size and forecast, by Distribution Channel
- 7.2.4.1. North America On-trade Bourbon Spirits Market by Sub-segment
- 7.2.4.2. North America Off-trade Bourbon Spirits Market by Hypermarkets/ supermarkets
- 7.2.5. Market size and forecast, by country
- 7.2.5.1. U.S.
- 7.2.5.1.1. Key market trends, growth factors and opportunities
- 7.2.5.1.2. Market size and forecast, by Type
- 7.2.5.1.3. Market size and forecast, by ABV
- 7.2.5.1.4. Market size and forecast, by Distribution Channel
- 7.2.5.2. Canada
- 7.2.5.2.1. Key market trends, growth factors and opportunities
- 7.2.5.2.2. Market size and forecast, by Type
- 7.2.5.2.3. Market size and forecast, by ABV
- 7.2.5.2.4. Market size and forecast, by Distribution Channel
- 7.2.5.3. Mexico
- 7.2.5.3.1. Key market trends, growth factors and opportunities
- 7.2.5.3.2. Market size and forecast, by Type
- 7.2.5.3.3. Market size and forecast, by ABV
- 7.2.5.3.4. Market size and forecast, by Distribution Channel
- 7.3. Europe
- 7.3.1. Key trends and opportunities
- 7.3.2. Market size and forecast, by Type
- 7.3.3. Market size and forecast, by ABV
- 7.3.4. Market size and forecast, by Distribution Channel
- 7.3.4.1. Europe On-trade Bourbon Spirits Market by Sub-segment
- 7.3.4.2. Europe Off-trade Bourbon Spirits Market by Hypermarkets/ supermarkets
- 7.3.5. Market size and forecast, by country
- 7.3.5.1. France
- 7.3.5.1.1. Key market trends, growth factors and opportunities
- 7.3.5.1.2. Market size and forecast, by Type
- 7.3.5.1.3. Market size and forecast, by ABV
- 7.3.5.1.4. Market size and forecast, by Distribution Channel
- 7.3.5.2. Germany
- 7.3.5.2.1. Key market trends, growth factors and opportunities
- 7.3.5.2.2. Market size and forecast, by Type
- 7.3.5.2.3. Market size and forecast, by ABV
- 7.3.5.2.4. Market size and forecast, by Distribution Channel
- 7.3.5.3. Italy
- 7.3.5.3.1. Key market trends, growth factors and opportunities
- 7.3.5.3.2. Market size and forecast, by Type
- 7.3.5.3.3. Market size and forecast, by ABV
- 7.3.5.3.4. Market size and forecast, by Distribution Channel
- 7.3.5.4. Spain
- 7.3.5.4.1. Key market trends, growth factors and opportunities
- 7.3.5.4.2. Market size and forecast, by Type
- 7.3.5.4.3. Market size and forecast, by ABV
- 7.3.5.4.4. Market size and forecast, by Distribution Channel
- 7.3.5.5. UK
- 7.3.5.5.1. Key market trends, growth factors and opportunities
- 7.3.5.5.2. Market size and forecast, by Type
- 7.3.5.5.3. Market size and forecast, by ABV
- 7.3.5.5.4. Market size and forecast, by Distribution Channel
- 7.3.5.6. Rest of Europe
- 7.3.5.6.1. Key market trends, growth factors and opportunities
- 7.3.5.6.2. Market size and forecast, by Type
- 7.3.5.6.3. Market size and forecast, by ABV
- 7.3.5.6.4. Market size and forecast, by Distribution Channel
- 7.4. Asia-Pacific
- 7.4.1. Key trends and opportunities
- 7.4.2. Market size and forecast, by Type
- 7.4.3. Market size and forecast, by ABV
- 7.4.4. Market size and forecast, by Distribution Channel
- 7.4.4.1. Asia-Pacific On-trade Bourbon Spirits Market by Sub-segment
- 7.4.4.2. Asia-Pacific Off-trade Bourbon Spirits Market by Hypermarkets/ supermarkets
- 7.4.5. Market size and forecast, by country
- 7.4.5.1. China
- 7.4.5.1.1. Key market trends, growth factors and opportunities
- 7.4.5.1.2. Market size and forecast, by Type
- 7.4.5.1.3. Market size and forecast, by ABV
- 7.4.5.1.4. Market size and forecast, by Distribution Channel
- 7.4.5.2. Japan
- 7.4.5.2.1. Key market trends, growth factors and opportunities
- 7.4.5.2.2. Market size and forecast, by Type
- 7.4.5.2.3. Market size and forecast, by ABV
- 7.4.5.2.4. Market size and forecast, by Distribution Channel
- 7.4.5.3. India
- 7.4.5.3.1. Key market trends, growth factors and opportunities
- 7.4.5.3.2. Market size and forecast, by Type
- 7.4.5.3.3. Market size and forecast, by ABV
- 7.4.5.3.4. Market size and forecast, by Distribution Channel
- 7.4.5.4. South Korea
- 7.4.5.4.1. Key market trends, growth factors and opportunities
- 7.4.5.4.2. Market size and forecast, by Type
- 7.4.5.4.3. Market size and forecast, by ABV
- 7.4.5.4.4. Market size and forecast, by Distribution Channel
- 7.4.5.5. Australia
- 7.4.5.5.1. Key market trends, growth factors and opportunities
- 7.4.5.5.2. Market size and forecast, by Type
- 7.4.5.5.3. Market size and forecast, by ABV
- 7.4.5.5.4. Market size and forecast, by Distribution Channel
- 7.4.5.6. Rest of Asia-Pacific
- 7.4.5.6.1. Key market trends, growth factors and opportunities
- 7.4.5.6.2. Market size and forecast, by Type
- 7.4.5.6.3. Market size and forecast, by ABV
- 7.4.5.6.4. Market size and forecast, by Distribution Channel
- 7.5. LAMEA
- 7.5.1. Key trends and opportunities
- 7.5.2. Market size and forecast, by Type
- 7.5.3. Market size and forecast, by ABV
- 7.5.4. Market size and forecast, by Distribution Channel
- 7.5.4.1. LAMEA On-trade Bourbon Spirits Market by Sub-segment
- 7.5.4.2. LAMEA Off-trade Bourbon Spirits Market by Hypermarkets/ supermarkets
- 7.5.5. Market size and forecast, by country
- 7.5.5.1. Latin America
- 7.5.5.1.1. Key market trends, growth factors and opportunities
- 7.5.5.1.2. Market size and forecast, by Type
- 7.5.5.1.3. Market size and forecast, by ABV
- 7.5.5.1.4. Market size and forecast, by Distribution Channel
- 7.5.5.2. Middle East
- 7.5.5.2.1. Key market trends, growth factors and opportunities
- 7.5.5.2.2. Market size and forecast, by Type
- 7.5.5.2.3. Market size and forecast, by ABV
- 7.5.5.2.4. Market size and forecast, by Distribution Channel
- 7.5.5.3. Africa
- 7.5.5.3.1. Key market trends, growth factors and opportunities
- 7.5.5.3.2. Market size and forecast, by Type
- 7.5.5.3.3. Market size and forecast, by ABV
- 7.5.5.3.4. Market size and forecast, by Distribution Channel
CHAPTER 8: COMPETITIVE LANDSCAPE
- 8.1. Introduction
- 8.2. Top winning strategies
- 8.3. Product Mapping of Top 10 Player
- 8.4. Competitive Dashboard
- 8.5. Competitive Heatmap
- 8.6. Top player positioning, 2021
CHAPTER 9: COMPANY PROFILES
- 9.1. Suntory Holdings Limited
- 9.1.1. Company overview
- 9.1.2. Key Executives
- 9.1.3. Company snapshot
- 9.1.4. Operating business segments
- 9.1.5. Product portfolio
- 9.1.6. Business performance
- 9.1.7. Key strategic moves and developments
- 9.2. Brown-Forman Corporation
- 9.2.1. Company overview
- 9.2.2. Key Executives
- 9.2.3. Company snapshot
- 9.2.4. Operating business segments
- 9.2.5. Product portfolio
- 9.2.6. Business performance
- 9.2.7. Key strategic moves and developments
- 9.3. Sazerac Company, Inc
- 9.3.1. Company overview
- 9.3.2. Key Executives
- 9.3.3. Company snapshot
- 9.3.4. Operating business segments
- 9.3.5. Product portfolio
- 9.3.6. Key strategic moves and developments
- 9.4. Kirin Holdings Company, Limited
- 9.4.1. Company overview
- 9.4.2. Key Executives
- 9.4.3. Company snapshot
- 9.4.4. Operating business segments
- 9.4.5. Product portfolio
- 9.4.6. Business performance
- 9.5. Bacardi Limited.
- 9.5.1. Company overview
- 9.5.2. Key Executives
- 9.5.3. Company snapshot
- 9.5.4. Operating business segments
- 9.5.5. Product portfolio
- 9.5.6. Key strategic moves and developments
- 9.6. Michters Distillery LLC.
- 9.6.1. Company overview
- 9.6.2. Key Executives
- 9.6.3. Company snapshot
- 9.6.4. Operating business segments
- 9.6.5. Product portfolio
- 9.6.6. Key strategic moves and developments
- 9.7. Heaven Hill Brands
- 9.7.1. Company overview
- 9.7.2. Key Executives
- 9.7.3. Company snapshot
- 9.7.4. Operating business segments
- 9.7.5. Product portfolio
- 9.7.6. Key strategic moves and developments
- 9.8. MGP Ingredients, Inc.
- 9.8.1. Company overview
- 9.8.2. Key Executives
- 9.8.3. Company snapshot
- 9.8.4. Operating business segments
- 9.8.5. Product portfolio
- 9.8.6. Business performance
- 9.8.7. Key strategic moves and developments
- 9.9. Laws Whiskey House
- 9.9.1. Company overview
- 9.9.2. Key Executives
- 9.9.3. Company snapshot
- 9.9.4. Operating business segments
- 9.9.5. Product portfolio
- 9.9.6. Key strategic moves and developments
- 9.10. Conecuh Brands, LLC
- 9.10.1. Company overview
- 9.10.2. Key Executives
- 9.10.3. Company snapshot
- 9.10.4. Operating business segments
- 9.10.5. Product portfolio
- 9.10.6. Key strategic moves and developments
- 9.11. Distiller's Way, LLC
- 9.11.1. Company overview
- 9.11.2. Key Executives
- 9.11.3. Company snapshot
- 9.11.4. Operating business segments
- 9.11.5. Product portfolio
- 9.12. Nashville Barrel Company
- 9.12.1. Company overview
- 9.12.2. Key Executives
- 9.12.3. Company snapshot
- 9.12.4. Operating business segments
- 9.12.5. Product portfolio
- 9.13. Bardstown Bourbon Company
- 9.13.1. Company overview
- 9.13.2. Key Executives
- 9.13.3. Company snapshot
- 9.13.4. Operating business segments
- 9.13.5. Product portfolio
- 9.13.6. Key strategic moves and developments
- 9.14. Wyoming Whiskey, Inc.
- 9.14.1. Company overview
- 9.14.2. Key Executives
- 9.14.3. Company snapshot
- 9.14.4. Operating business segments
- 9.14.5. Product portfolio
- 9.14.6. Key strategic moves and developments
- 9.15. Jos. A. Magnus & Co.
- 9.15.1. Company overview
- 9.15.2. Key Executives
- 9.15.3. Company snapshot
- 9.15.4. Operating business segments
- 9.15.5. Product portfolio