Grand View Research: Innovative Products with Unique Flavors to Spur Crafted Sprits Market

10 October 2018: According to a report by Grand View Research, Inc., the worldwide craft spirits market is likely to reach USD 80.43 billion by 2025. Crafted spirits are made by licensed distillers with definite production volume. These products comprise whiskey, gin, vodka, rum, brandy, and liqueur, others.

On November 1, 2017, Whyte & Mackay, producer of Scotch whisky introduced a scotch whisky called Shackleton in the U.S. markets. It is produced using blended malt selected form highland. The malts are placed for extended period in an amalgamation of Spanish Sherry butts and ex-bourbon American white oak barrels to match flavors. The whiskey is available in various flavors such as vanilla, ginger, honey, and liquorice.

In January 2018, Connacht Distillery declared the launch of a Conncullin Irish Gin in the U.S. market. The product is made up of various Irish botanicals and juniper, elderberry, and citrus.

Recently Oak & Cane Co. introduced a new rum available in stores in Florida and online purchase. The product is crafted using ingredients obtained from local area and double-distilled. It is an American made gold rum, which is aged in white American Oak and placed with fresh orange peels from Florida.

Recently, Pernod Ricard launched handcrafted Schwarzwald Dry Gin called Monkey 47 in India. The product is crafted using 47 botanicals in Black forest region, Germany. The botanicals include lingonberries, spruce shoots, acacia flowers, bramble leaves, chamomile, and other.

Growing consumer demand for authentic and premium drinks with exceptional tastes and flavor can propel craft sprits market. Younger residents, who have reached the legal drinking age (LDA) and employed consumers with high purchasing capability can have positive impact on the market. Younger people always pick for unusual and experimental beverages.

In 2016, North America estimated for the largest share of the overall market due to increasing consumer demand in the U.S. and secure approval policies implemented by administrations.

Some of the leading players operating in the market include Anchor Brewers & Distillers, William Grant & Sons, Pernod Ricard, Rogue Ales, and Diageo plc.