Key Market Indicators
Cypriot Spirits Production is projected to reach €10.5 million by 2028, up from €10.4 million in 2023. This marks an average annual growth rate of 0.2%. Since 2018, the supply of spirits in Cyprus has experienced a modest increase of 0.4% per year. In 2023, Cyprus ranked 20th globally in spirits production, with Estonia surpassing it with €10.4 million. The top three spots were held by France, Italy, and Poland, respectively. In terms of sales, the Cypriot spirits market is expected to hit €10.3 million by 2028, maintaining its 2023 figure of €10.3 million. This represents a compound annual growth rate (CAGR) of 0.1%. Since 2018, the market has seen a slight uptick of 0.2% annually. In 2023, Cyprus ranked 21st in spirits sales, with Bosnia and Herzegovina edging ahead with €10.3 million. France, Poland, and Italy continued to dominate this ranking as well, occupying the second, third, and fourth positions, respectively.