Us Spirit Industry Will Provide Substantial Growth to The Premium Alcoholic Beverage Market

A substantial rise in the demand for premium alcoholic beverages which include beer, wine, and distilled spirits has been witnessed over the years. The US is one of the major manufacturers and exporter of American Whiskey all across the globe. As per the Distilled Spirits Council, in 2019, the turnover of the spirit industry in the US was around $190 billion and provided around $32 billion to federal, state, and local taxes and supporting 1.64 million jobs in the country. 

Browse the full report description Global Premium Alcoholic Beverage Market Size, Share & Trends Analysis Report, by Type (Beer, Spirit, Wine), By Packaging (Canned, Glass Bottle, and Others), and Forecast, 2020-2026 at https://www.omrglobal.com/industry-reports/premium-alcoholic-beverage-market 

As the country is the major manufacturer of spirit, American whiskey exports have augmented by more than 55% in the last decade. American Whiskey has the largest share of 65% of the total US spirit exports in 2019 which stands around $996 million. Significant growth in Japan has been witnessed as the US spirit exports has been increased to $202 million in 2019 as compared to $118 million in 2018. A growth of 18% is also witnessed in Mexico exports to $72 million from $61 million. 

Some of the major factors for the growth of the US spirit market include federal excise tax cut which supports craft distillers. Moreover, growth in the spirits tourism & experiential distillery tours is also driving consumer interest & loyalty. This all has increased consumer preference for premium products, prestige bottles & unique experiences. The US supplier revenue of the spirits is continuously increasing since the decade. In 2019, the revenue of the suppliers has increased to $29.0 billion in 2019 from $27.5 million with a growth of 5.3% whereas the volume has increased to 239 million cases in 2019, 7.6 million higher cases compared to 2018. France is the largest importing country for the US as the country has imported spirits of more than $2.55 billion from France with a growth of nearly 12%. Out of the top ten countries importing spirits to the US, eight are from Europe except for Mexico and Canada. 

More than half of the exports (52%) of American whiskey were alone to the EU which was around $514 million. However, as the EU has imposed a retaliatory tariff on American Whiskey, it has decreased the US spirit exports by 14.3% whereas American whiskey exports by 16%. A downfall in exports of 41%, 30%, and 41% has been witnessed in UK, Germany, and Spain in the US spirit in 2019. In October 2019 the US has also imposed a tariff on Single Malt Scotch Whisky, Single Malt Irish, Whiskey from Northern Ireland, and liqueurs and cordials from Germany, Ireland, Italy, Spain, and UK. 

Global Premium Alcoholic Beverage Market- Segmentation

By Type 

• Beer 
• Spirit
• Wine

By Packaging 

• Canned
• Glass Bottle
• Others

Regional Outlook