Premium Spirits Spur Massive Growth

According to the Distilled Spirits Council, sales continue the dramatic upward trend with a record eighth consecutive gain of market share — capturing 36.2 percent of revenue compared to beer and wine. Distilled spirits supplier revenue is up four percent over 2016 driven largely by high-end and super premium spirits products. Consumers are embracing the cocktail scene with the innovation and experimentation that spirits invite. This trend is not just evident in the United States — U.S. spirits, particularly American whiskey, are surging around the world. U.S.-spirits exports more than doubled over the past decade to reach a record $1.63 billion last year. Internationally, consumers are enjoying high-end spirits and celebrating cocktail culture.

Innovative and artisan American whiskey revenues climbed 8.1 percent to 3.4 billion, with American rye whiskey up 16.2 percent in 2017. Tequila has seen substantial growth, powered by the rise of high-end and super premium tequilas, with revenues up 9.9 percent to $2.7 billion. Revenues for Cognac soared in the United States, up 13.8 percent to $1.6 billion and premiumization has added $2.4 billion in supplier revenue since 2007.

Lastly, 78% of the public views the spirits category favorably as cocktail culture becomes more integrated to most lifestyles.

 

Bonfort's
Bonfort's

Bonfort’s Wine and Spirits Journal is the original business-to-business publication for the alcohol industry. Founded in 1871 and closed with Prohibition in 1920, Bonfort’s is reborn in 2018 as a modern digital media platform that creates and distributes premium digital content daily to the inboxes of the top beer, wine and spirits buyers nationally. Each day we publish the newest product releases, tell brand stories and engage with the entire 3-tier industry through our multidimensional digital media network for fast, immediate and impactful messaging that get’s noticed.

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