Europe's vodka market set to expand by USD 2.84 billion (2023-2028) due to rising premium vodka demand, propelling market growth - Technavio

    NEW YORK, NY, December 14, 2023 /24-7PressRelease/ -- The Europe Vodka Market is expected to reach a growth of USD 2.84 billion, with a compounded annual growth rate (CAGR) of 3.55% from 2023 to 2028, according to insights from Technavio. This growth is primarily driven by the increasing demand for premium vodka, particularly notable in the European market. The surge in demand can be attributed to factors such as evolving consumer preferences, higher disposable incomes, the thriving nightlife and cocktail culture, a preference for handcrafted and locally produced goods, heightened interest in sustainable and organic products among consumers, and the pervasive impact of social media and influencer marketing. These diverse factors are projected to fuel the market's expansion across the region throughout the forecast period. Technavio, known for providing comprehensive market insights, offers valuable information to global businesses seeking growth opportunities. Obtain the Full Report for detailed analysis.

Europe Vodka Market 2024-2028: Segmentation

Distribution Channel
Off-trade
On-trade
Product
Unflavored
Flavored
Geography
Europe

Significant market share expansion is anticipated in the off-trade segment during the forecast period. The off-trade channel refers to retail sales of alcoholic beverages outside traditional on-site establishments like pubs and restaurants. The European vodka market boasts a substantial off-trade segment with diverse channels.

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Europe Vodka Market 2024-2028: Company Analysis and Scope

In a bid to enhance market positions, Technavio conducts a detailed analysis of approximately 25 companies operating in the market. Key players include Anheuser Busch InBev SA NV, Bacardi Ltd., BrewDog Plc, Brown Forman Corp., Diageo Plc, Ellustria Ltd., JSC Rosspirtprom, LVMH Moet Hennessy Louis Vuitton SE, Molson Coors Beverage Co., MOSCOW DISTILLERY CRISTALL, Novabev Group, Pernod Ricard SA, Roust, Stock Spirits Group, Stoli Group S.ar.l., Yaroslavl Distillery LLC, Abtshof Magdeburg GmbH, Alcohol Siberian Group Ltd., Beam Suntory Inc., and Highland Liquor Co. Ltd.

Europe Vodka Market 2024 – 2028: Market Dynamics
Leading Trends Influencing the Market

The market's growth is influenced by the rising adoption of craft vodka in Europe. Craft vodka, valued for its unique qualities and original production methods, aligns with consumers' preferences for high-quality, handmade products and support for regional traditions and small businesses. This trend underscores the increasing interest in superior products and brands' focus on transparency and sustainability.

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Europe Vodka Market 2024-2028: Key Highlights

CAGR during the forecast period 2024-2028
Detailed information on factors fueling Europe Vodka Market growth
Estimation of the market size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
Analysis of the market's competitive landscape and vendor details
Comprehensive insights into factors challenging the growth of Europe Vodka Market vendors

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Related Reports:

Vodka Market: The Global Vodka Market size is projected to increase by 422.1 million L, exhibiting a CAGR of 2.49% between 2022 and 2027. In 2017 the size of the market was valued at 3,042.17 million L.

US - Vodka Market: The US - Vodka Market size is projected to increase by USD 5.28 billion and the market size is estimated to grow at a CAGR of 4.45% between 2023 and 2028.

TOC

1. Executive Summary
2. Market Landscape
3. Market Sizing
4. Historic Market Size
5. Five Forces Analysis
6. Market Segmentation by Distribution Channel
7. Market Segmentation by Product
8. Customer Landscape
9. Geographic Landscape
10. Drivers, Challenges, and Trends
11. Company Landscape
12. Company Analysis
13. Appendix

About US

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

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