Market Insights Consumer Alcoholic Drinks Spirits

Vodka - Worldwide

Worldwide

Revenue in the Vodka market amounts to US$46.61bn in 2023. The market is expected to grow annually by 4.96% (CAGR 2023-2027).
In global comparison, most revenue is generated in the United States (US$21,940.00m in 2023).
In relation to total population figures, per person revenues of US$6.07 are generated in 2023.
In the Vodka market, volume is expected to amount to 2.16bn L by 2027. The market for Vodka market is expected to show a volume growth of 0.5% in 2024.
The average volume per person in the Vodka market is expected to amount to 0.28L in 2023.

Key regions: Russia, Singapore, India, United States, Worldwide

Market

Region

Region comparison

Currency

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on total consumer spending on alcoholic beverages, which comprises all private household spending on alcoholic beverages including at-home, out-of-home, as well as online and offline spendings.

Modeling approach:

Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on alcoholic beverages, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.