Global Spirits Industry
The global spirits industry was worth almost $263 billion in 2010, having recorded yearly growth of over 2.5% between 2006 and 2010, reports MarketLine. Whisky represents the leading market segment, generating almost $70 billion in sales in 2010 and accounting for almost 27% of the overall market in terms of value. Market growth is expected to accelerate to exceed a yearly growth rate of 3% between 2010 and 2015 to hit $306 billion.
The global spirits industry refers to the manufacturing of spirits, with companies involved in distilling and blending liquors, blending and mixing liquors with other ingredients, and distilling potable liquors. Spirits manufacturers use ingredients such as grains to distill into alcoholic spirit beverages, which they then package and sell to various types of outfits like restaurants, clubs, bars, retail stores, liquor wholesalers, hotels and casinos.