The spirits sector in Denmark saw significant fluctuations in turnover between 2013 and 2023. The turnover peaked in 2013 at 789.8 million Danish Krones before declining sharply to 245.5 million by 2017. Since then, it has seen marginal growth, reaching 279.5 million in 2023. Over the last two years, the year-on-year variations were 3.18% in 2022 and 2.46% in 2023. The CAGR from 2019 to 2023 stands at a modest 1.33%.
The forecast for 2024 and beyond suggests a stable but slow growth trajectory with a projected CAGR of 0.87% over the next five years. By 2028, the turnover is expected to reach 297.5 million, reflecting a total growth of 4.42% over this period.
Future trends to watch for:
- Potential impact of regulatory changes on the spirits sector.
- Evolving consumer preferences towards premium and craft spirits.
- Technological advancements in production and distribution.
