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Summary and extracts
1 Market overview
1.1 Definition and scope of study
Vodka is a colorless alcoholic beverage traditionally produced from cereals (rye, wheat) and potatoes, although other agricultural products may be used, particularly beets and fruits. The vodka market is a sub-segment of the spirits market, i.e., beverages produced from distilled alcohol, consisting of the producers and distributors of the product.
The global vodka market is expected to reach a value of 56.4 billion by 2027 registering a CAGR of 3.3%. The U.S. holds the largest share within the global market, followed immediately by China, whose market is expected to grow at a rate of 5.2% between 2020 and 2027.
In terms of sales volumes, the Italian vodka market, after a period of stable growth, experienced a real explosion in 2019. In particular, this growth seems to be explained by an increasing number of vodka exports, which started to suffer a setback only from 2020, due to the effects of the Covid-19 pandemic.
On the Italian scene there are competitors operating generically in the spirits sector but also dedicated to the marketing of vodka, some of which are represented by large multinational groups such as Pernord Ricard, others by Italian groups such as Molinari, Branca Intarnational and Illva Saronno. There are also big operators focused on the commercialization of vodka only, such as Russian Stanadard as well as small specialized producers.
A very important trend in the sector is the greater consideration by consumers of the brand in the process of product choice: unlike other alcoholic beverages where customers' choice is mainly driven by price, in the spirits market, and in particular in the vodka one, it is instead the brand producer of the beverage to play a fundamental role in the choice. Moreover, a great opportunity within this market is represented by the growth of e-commerce as a distribution channel, although physical stores continue to remain the preferred sales channel for consumers.
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Latest news
How India is becoming Pernod Ricard's whisky paradise - 22/01/2024
- Pernod Ricard aims to accelerate its presence in India.
- The French giant, which occupies a leading position in the sub-continent
- Strong growth in the Indian whisky market.
- In the entry-level whisky segment, the group owns Royal Stag and Imperial Blue - two brands produced in India that rank among the top 5 best-selling whiskies in the country. It also owns several high-end brands: Chiva's Regal, Ballantine's and Glenlivet - imported whiskies that carry a 150% surtax.
- India accounts for 10% of the Group's total sales, or around 1.2 billion euros.
- A major market for the Group behind the United States.
- Consumption of imported whiskies and high-end Indian single malts is booming.
- Scotch imports are set to double between 2020 and 2022,
- India is the leading export market for Scottish brands.
- Sales of Indian single malt rose by 144% between 2021 and 2022.
- Local brands owned by the French giant account for 85% of sales by value. Imports of foreign brands account for the remaining 15%.
- Pernod Ricard has 27 factories across the country.
The trials and tribulations of Pernod Ricard to create the first whisky "made in China" - 17/12/2023
- Pernod Ricard inaugurates the country's first whisky distillery
- Pernod Ricard plans to invest 150 million euros over ten years in this project.
- Market launch of the first bottles of The Chuan, the first pure malt made in China.
- Bottles are priced between 115 and 190 euros, depending on the degree of alcohol (40, 46 or 60 degrees) and the type of aging.
- Pernod Ricard's Chinese subsidiary accounts for 10% of group sales
- Pernod Ricard is the world's second-largest spirits company, and already owns some 50 whiskies (including Chivas, Ballantine's, The Glenlivet, Aberlour, Royal Salute, Jameson and Jefferson's),
- The Chinese spirits market remains 97% dominated by Baijiu (sorghum-based alcohol).
- Western spirits share the remaining 3%, starting with cognac (a market worth 3.2 billion euros, according to specialist consultancy IWSR) and whisky (1.2 billion euros).
- The Emeishan distillery is located on the Mount Emei road, used by millions of Chinese tourists throughout the year. Pernod Ricard expects two million visitors within the next ten years.
Never full of acquisitions, Campari ready to revive Courvoisier cognac - 16/12/2023
- campari, the group that owns the Grand Marnier liqueur and the Aperol aperitif, is negotiating with Japan's Beam Suntory to acquire 100% of its Courvoisier cognac for 1.1 billion euros, i.e. almost 5 times sales (230 million euros by 2022).
- Beam Suntory's strategy is to refocus on its premium whiskies (American bourbons, Japanese whiskies, etc.).
- Campari generates sales of 2.7 billion euros
- Half of the growth in recent years has come from acquisitions: Grand Marnier (2016), Trois Rivières rums (2019), Lallier champagne (2020), Picon liqueur in 2022.
- The Italian group has made seven acquisitions in six years in France
- The United States, Campari's biggest market
- To grow in China, where Campari is weak, you need a cognac
- alongside Martell (Pernod-Ricard), Hennessy (LVMH) and Rémy Martin (Rémy Cointreau), Courvoisier is the fourth-largest player in this Charentais spirit, with a 5% global market share. 50% of its sales are made in China, where the local spirit, baijiu, remains ultra-dominant (97% of the local market by volume).
- Imported cognacs and whiskies have been in vogue for the past decade. Pernod Ricard, Diageo and LVMH take the lion's share.
- In the United States, Campari already generates nearly 30% of its business.
- Aperol leads Campari's sales (25% of sales in the first nine months of 2023).
- Sales of Wild Turkey bourbon, acquired from Pernod Ricard in 2009, have more than tripled.
Spirits: Bardinet equips itself with cutting-edge logistics for export expansion - 13/12/2023
- Bardinet has been a subsidiary of La Martiniquaise since 1993.
- La Martiniquaise acquired Marie Brizard in 2019.
- Bardinet generates almost half of its sales of 240 million euros from exports.
- La Martiniquaise has sales of 1.4 billion euros.
- The group is number one in the French spirits market, and eighth worldwide.
The Chuan, Pernod Ricard's first Chinese whisky | Pernod Ricard and Chuan Whisky - 13/12/2023
- The Pernod Ricard group has launched the first bottles of pure malt produced at The Chuan distillery in China.
- The bottles are priced at 100 euros each.
- Pernod Ricard has invested 150 million euros over ten years to finance China's first foreign whisky distillery.
- The distillery has a capacity of 1 to 1.5 million pure spirits.
- China remains a massive consumer of Baiju, the national spirit, with a share of foreign alcohol consumption of less than 2%.
- Pernod Ricard holds leading positions in China for the two most widely consumed imported spirits, cognac with Martell and whisky with Chivas.
How Bacardi slips St. Germain into a spritz - 28/09/2023
- St-Germain liqueur was acquired by Bacardi in 2013.
- The brand was introduced by Bacardi in France and Italy between 10 and 15 years ago.
- The St-Germain brand was created in 2007.
- Bacardi recorded sales of $14 billion.
- In France, supermarkets account for two-thirds of Bacardi's sales.
- Direct sales by Bacardi's French subsidiary reached $680 million last year.
- The company owns more than 200 brands and labels.
- In the United States, mezcal and tequila are among the group's best-selling products.
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the vodka market | Italy
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