US: Vodka, whisk(e)y to fuel premium-and-above spirits market - research
Vodka is set to fuel the premium-and-above spirits sector
Premium-and-above spirits saw strong growth in the US last year and the trend is set to continue with whiskies and vodka fuelling the market, according to a new report.
Sales of nine-litre cases of spirits in the price segment rose by 8.5% to more than 50m in the country in 2012, the IWSR Forecast Report 2013-2018 found. Spirits that retail at US$20 and above fall into the premium-and-above category.
Looking ahead, the price segement's sales are predicted to reach 70m annual cases by 2018.
Premium-and-above vodka is forecast to gain another 4.3m cases in the next five years, with the trend towards flavoured vodka driving growth, the report said.
Premium-and-above whisk(e)y is forecast to see the largest growth over the five years, adding 5m cases to the category, as American whiskies attract new consumers to the category.
One of the factors fuelling the growth is the rise in immigration, with Latinos and Asian consumers showing a preference for spirits, particularly premium-aged, the IWSR said.
Premium-and-above spirits now account for one in four bottles sold in the US, the report found.
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