In this article, we are going to discuss the 20 fastest-growing spirit brands in the world. You can skip our detailed analysis of the global spirits market, the success of celebrity-owned liquors, and the fastest growing alcohol category in the world, and go directly to 5 Fastest-Growing Spirit Brands in the World.
Alcohol occupies such a central place in the human experience that Galileo Galilei, the father of modern science, once compared wine to sunlight itself. Since booze has been an integral part of human history for thousands of years, it has always been in a constant state of change, trying to keep up with the evolving tastes of its consumers. Adding a hint of flavor has always been the norm, and even the Greeks flavored their beloved wine with everything from honey to seawater. From beer spiked with intoxicants such as henbane to wine infused with rosemary, it’s fair to say that the desire both to enhance the mood-altering effects of alcohol and to improve the taste of an indifferent raw product have been with mankind for millennia.
The Global Spirits Market:
The spirits industry is overcoming economic headwinds to meet changing consumer preferences as it chips away at the dominance of beer. According to the Distilled Spirits Council of the United States, the spirits revenue market share grew from 28.7% in 2000 to 42.1% in 2022, while beer held a 41.9% market share last year. Thus, the spirits industry surpassed beer in revenue for the first time ever.
As we mentioned in our article – 25 Most Popular Spirits in the World – the global spirits market is estimated to be at $59.4 billion in 2023, and is expected to be worth around $90.29 billion by 2033, growing at a CAGR of 4.27% during the forecast period. The rising popularity of premium alcoholic drinks and RTDs owing to higher consumer spending could be one of the key factors for the rapid development of the spirits industry.
The Success of Celebrity-owned Liquors:
The alcoholic beverage industry is unquestionably a profitable one and a growing number of celebrities are investing their time and money in the spirits business by backing brands and forging partnerships. These ventures have often proven to be quite lucrative.
Of course, a celebrity-backed investment offer is also a boon for the brand itself. Numerous studies have already shown that celebrities can affect consumer behavior, especially if the celeb’s image aligns with the brand. Having celebrities as investors can help the brand increase its sales and make it more recognizable to people. The celebrity’s fans or followers will associate the celeb’s positive image with the brand.
In 2017, George Clooney and his co-owners sold Casamigos to spirits giant Diageo plc (NYSE:DEO) for $1 billion. It was a headline-grabbing figure that inspired an avalanche of celebrity-backed tequilas to hit the market over the last decade.
One prominent example of a celebrity alcohol brand investment is Ryan Reynolds buying into Aviation Gin in 2018. Like any private equity investor, Reynolds invested in the company, supported it, and cashed out. The key difference is that Reynolds’ participation in the brand was simply earth-shattering. No one can forget the Hollywood superstar’s witty and hilarious marketing skits, and after three years of investment, Ryan Reynolds cashed out with $610 million when Diageo plc (NYSE:DEO) acquired the Aviation brand.
Similarly, Jay-Z also sold the majority stake in D’USSÉ – his best-selling cognac brand – to Bacardi this year, in a deal worth approximately $750 million.
For these stars and several others, the gambit has undoubtedly paid off. As they say, the rich get richer. But as a business owner, you can get buzzed just like your favorite stars – no drop of alcohol needed. It’s just a matter of finding the right celebrity investor.
Diageo plc (NYSE:DEO) sits among the Best Alcohol Stocks to Own According to Hedge Funds.
Fastest-Growing Alcohol Category:
Ready-to-drink beverages continue to make headlines as the fastest-growing alcohol beverage category. While malt-based RTDs still retain a 91% share by volume in the American RTD market, spirit-based RTDs grew by 51% in 2021, approximately double the growth of the wine-and malt-based categories. According to IWSR, the spirits-based RTDs are expected to grow at a CAGR of 33% in volume in the U.S. by 2025.
Keeping up with the trend, the French alcohol giant Pernod Ricard announced earlier this year that it is partnering with The Coca-Cola Company (NYSE:KO) to launch the Absolut Vodka & Sprite pre-mixed cocktail in select European countries in early 2024, including the UK, the Netherlands, Spain, and Germany. The packaging for the new 5% ABV RTD will feature both Absolut and Sprite’s trademarks and a zero-sugar Sprite option will also be available. In November last year, Pernod Ricard invested $22 million to install its first RTD canning line at the company’s plant in Arkansas.
It is worth mentioning that The Coca-Cola Company (NYSE:KO) also recently partnered with Brown-Forman to launch the quintessential classic Jack & Coke RTD, which made its U.S. debut in March this year in 12-oz. cans (7% ABV), and Jack Daniel’s and Coca-Cola Zero Sugar also became available in May.
The Coca-Cola Company (NYSE:KO) ranks among the Largest Beverage Companies in the World in 2023.
With that said, here are the Spirit Brands with the Fastest Growing Sales.
Photo by Adam Wilson on Unsplash
Methodology:
To collect data for this article, we referred to The Brand Champion 2023 magazine by The Spirits Business, looking for the Fastest Growing Liquor Brands. The following brands have been ranked by the percentage change in the sales volume of their 9-liter cases from 2021 to 2022. To keep our list relevant, we have only included brands that sold at least 1 million cases last year.
20. Magic Moments
Category: Vodka
Cases Sold in 2022: 4.8 million
Growth in Sales Volume: 30.4%
Owned by Radico Khaitan, this premium Indian vodka is smooth and perfectly blends with your senses, giving an enriched taste. Radico Khaitan is among the Largest Liquor Companies in India, boasting a revenue of around $383.9 million in 2022.
19. Cazadores
Category: Tequila
Cases Sold in 2022: 1 million
Growth in Sales Volume: 32.5%
One of the oldest and Most Popular Tequila Brands in the World, Cazadores is made from 100% Blue Agave, requiring a fully sustainable and zero-waste seven-step production process overseen and crafted by a Maestro Tequilero. The brand was acquired by Bacardi Limited in 2002.
With its distinct, herbaceous, and slightly sweet taste, the Cazadores Blanco Tequila is one of the Best Tequilas for Shots.
18. Woodford Reserve
Category: American Whiskey
Cases Sold in 2022: 1.6 million
Growth in Sales Volume: 33.3%
The art of making fine Bourbon first took place on the site of the Woodford Reserve Distillery, a National Historic Landmark, in 1812. The perfectly balanced taste of this Kentucky Straight Bourbon Whiskey comprises more than 200 detectable flavor notes, from bold grain and wood, to sweet aromatics, spice, fruit, and floral notes. Woodford Reserve is a product of the Brown-Forman Corporation.
Woodford Reserve Bourbon ranks among the Fastest Growing Spirits in 2023.
17. Husky
Category: Vodka
Cases Sold in 2022: 1.3 million
Growth in Sales Volume: 36.1%
Made from spring water cleaned by cold filtration technology, the super-premium Husky Vodka is produced in the extremely cold and harsh environment of Siberia region. The Alcohol Siberian Group is a leading player on the Russian alcohol market. Its Omsk distillery produces several well-known brands of vodka – Five Lakes, Husky, White Birch, and others.
16. Chum Churum
Category: Soju
Cases Sold in 2022: 26 million
Growth in Sales Volume: 36.7%
Chum Churum soju is a clear, colorless, alkaline water-based distilled spirit native to Korea, made from rice, potatoes, sweet potatoes or tapioca. Released into the market in 2006, the brand claims that the mineral-heavy water leads to a smoother, less acidic bite.
With 26 million 9-liter cases sold last year, Chum Churum Soju is among the Spirits that Sell the Most in the World.
15. Sterling Reserve
Category: Indian Whisky
Cases Sold in 2022: 5 million
Growth in Sales Volume: 39.4%
A brand of premium blended Indian whisky from the house of Allied Blenders and Distilleries, Sterling Reserve is a unique blend of imported Scotch malts and the finest Indian grain spirits. The launch of the Sterling Reserve range of premium whiskies in 2018 is being acknowledged as the most consumer engaging and competitive move in the past few years. Sterling Reserve Blend 10 is the more premium variant, with the second being Sterling Reserve Blend 7.
Sterling Reserve Whisky sits among the Top Spirits in 2023.
14. Courrier Napoleon Brandy
Category: Brandy
Cases Sold in 2022: 1 million
Growth in Sales Volume: 40.3%
Owned by Tilaknagar Industries, Courrier Napoleon Brandy registered ‘significant growth’ in 2023. In its two largest markets, Kerala and Puducherry, the brand recorded more than 40% and 88% growth, respectively.
The brandy is sold in Canteen Stores Department and in more than eight states across India, with the brand taking a 15% market share in the ‘prestige’ brandy segment.
Courrier Napoleon Brandy is counted among the Fastest Growing Alcoholic Beverages.
13. Old Port Rum
Category: Rum
Cases Sold in 2022: 1.5 million
Growth in Sales Volume: 40.6%
Old Port hails from the Amrut Distillery in Bangalore, India. The rum is produced from 100% molasses sourced from native Indian sugar cane. It ages in a combination of ex whisky barrels and new oak which both add to the smooth rich taste.
India is the world’s largest producer of sugarcane and is placed among the Countries that Produce the Best Rum in the World.
12. Casamigos
Category: Tequila
Cases Sold in 2022: 3.2 million
Growth in Sales Volume: 42.5%
There’s a reason Casamigos is one of the Most Popular Tequila Brands in the World, and it’s not just because of Mr. Clooney. Made from the finest hand-selected 100% Blue Weber agaves, this is good tequila that is super easy to drink.
Both, the Casamigos Blanco and Añejo, were among Drizly’s most-gifted tequila SKUs in 2022.
11. Belaya Berezka Vodka
Category: Vodka
Cases Sold in 2022: 1.3 million
Growth in Sales Volume: 43.5%
Another brand produced by the Alcohol Siberian Group, Belaya Berezka is a Russian vodka distilled from grains. Its name translates to ‘white birch’ – a reference to the tradition of adding birch sap before distillation. This process brings an extra taste and depth to the vodka.
10. Morpheus Brandy
Category: Brandy
Cases Sold in 2022: 1.1 million
Growth in Sales Volume: 45.5%
India’s largest-selling premium brandy, this richly-layered, sterling premium aged spirit is named after Morpheus, the winged Greek god of dreams. Owned by Radico Khaitan, the brand is now available in 25 Indian states and exported to 27 countries. It is also being sold in every CSD shop in the country.
Morpheus Brandy is counted among the Top 10 Fastest Growing Spirit Brands.
9. Chrome Vodka
Category: Vodka
Cases Sold in 2022: 1.9 million
Growth in Sales Volume: 45.8%
Chrome is a clear distilled, smooth, premium vodka which stands out from the crowd with style. Owned by Diageo, the brand was launched in the Kenyan market in December 2014, as a strategic move to deliver premium vodka without the premium price tag. Chrome Vodka is described as the ‘most-loved’ spirit brand in Kenya.
8. Eristoff
Category: Vodka
Cases Sold in 2022: 2.1 million
Growth in Sales Volume: 46.1%
Eristoff vodka originated from Georgia and was first produced in 1806 for Prince Eristavi of Duchy of Racha. Now owned by Bacardi, this 100% grain vodka is triple-distilled and finally charcoal filtered to ensure absolute purity.
Eristoff sits among the Best Selling Vodka Brands in the World.
7. Black Dog
Category: Scotch Whisky
Cases Sold in 2022: 1.1 million
Growth in Sales Volume: 51.4%
Black Dog is a brand of blended Scotch whisky produced by the Indian beverage company United Spirits Limited. Ripe from the success of its association with English actress Keira Knightley, Black Dog unveiled a limited-edition release earlier this year. The rare Black Dog Wine Cask edition is a complex blend of aged whiskies that have been matured and finished in casks that previously held a premium red wine.
6. Antiquity Whisky
Category: Indian Whisky
Cases Sold in 2022: 1.1 million
Growth in Sales Volume: 51.4%
Another United Spirits-owned brand, Antiquity is an Indian whisky that has slowly increased its presence in its domestic market over recent years – building sales from 600,000 cases in 2012. Launched in 1992, the whisky is available in two variants – Antiquity Blue and Antiquity Rare.
Antiquity Whisky is placed among the Fastest Growing Liquors in the World.
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Disclosure: None. 20 Fastest-Growing Spirit Brands in the World is originally published on Insider Monkey.