The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn more44 pages, Aug 2014
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Accounting for 27% of global volumes and 37% of global value sales in spirits in 2013, brown spirits are an important part of the spirits category. These categories offer a broad range of products from cheap local products in emerging markets to very high end cognacs and Scotches, and thus offer great potential but also challenges
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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
Spirits continue to take an increasing share of the alcoholic drinks share of throat and pocket, a key driver of which has been brown spirits, thanks to a mixture of rapid volume growth and premiumisation.
Innovation within these categories has been vital for expanding consumption, especially in developed markets, but not all innovation has been good.
Premiumisation has been a major factor in growth in brown spirits within individual categories. The test will be, especially in emerging markets, is whether once consumers enter the categories will they trade up to more premium brands within them?
Flavoured variants have spread to all categories, especially whiskies. This has attracted new consumers and reinvigorated categories, but, as in cognac, it can go too far.
Emerging markets offer huge potential for growth, but equally, as witnessed in China in both cognac and blended Scotch, problems can be caused if they are relied on too heavily for growth.
In a number of whisky categories, especially less developed ones, such as Irish and bourbon/other US whiskies, mature markets such as North America and Western Europe offer growth, while dark rum, driven by spiced variants also offers growth potential.
The rapid growth in certain categories, notably whiskies, has meant significant investment in production facilities and marketing innovation, but also the selling of whiskies with no age statements, due to the long lead times.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.