Alcoholic Spirits Market to Hit USD1.8 Trillion by 2031 as Premiumization and Craft Boom Reshape Industry

[Hyderabad, April 17th, 2025] – The global alcoholic spirits market, valued at USD 1.2 trillion in 2023, is projected to grow at a rate of 5.2%, reaching USD 1.8 trillion by 2031, according to ClearView Market Insights. Rising disposable incomes, premiumization trends, and innovations in ready-to-drink (RTD) products are driving this expansion.

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2024 Industry Milestones

1. Premiumisation Wave

   • Sales of ultra-premium spirits increase by 25%, primarily driven by Japanese whisky and Scotch.

   • Diageo’s luxury portfolio grows by 40% annually.

2. Sustainability Revolution

   • Bacardi plans to launch 100% biodegradable bottles by 2025.

   • Thirty percent of consumers now prefer eco-friendly brands.

3. E-Commerce Boom

   • Online alcohol sales jump 30% post-pandemic.

Regional Leaders

• North America (XX% share): Craft spirit capital.

• Europe (XX%): Whisky and gin dominance.

• Asia-Pacific (25%): India and China drive growth.

Executive Insights
“The spirits industry isn’t just selling drinks—it’s selling experiences.”
– Ivan Menezes, Former CEO, Diageo

Roadmap to 2031

• 2025: RTD sector to surpass USD 50 Bn.

• 2027: Asia-Pacific to overtake Europe in whisky consumption.

• By 2030, sustainable packaging will become the industry standard.

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About ClearView Market Insights

ClearView Market Insights specializes in food and beverage sector intelligence, covering over 150 alcohol market segments.

Media contact:

Bhavani K
Marketing and Sales Head
ClearView Market Insights
Mail: sales@clearviewmarketinsights.comPhone: +1 917-993-7369