Super & Ultra Premium Spirits: Market Size
The market size for global super and ultra premium spirits in 2018 is estimated to be approximately $30 billion, and the United States super premium spirits market size was $6.4 billion in 2018.
The Global Super and Ultra Premium Market Size
- The size of the global super and ultra premium spirits industry as of 2018 is estimated to be approximately $30 billion.
- In 2015, the market size for the global super premium spirits market was $33 billion.
- The Distilled Spirits Council classified spirits into four categories based on price per bottle, and these include value ($12 below), premium ($12 to $20), high end ($20 to $35), and super premium ($35 and above).
- According to Distilled Spirits Council, super-premium spirits accounted for 74.0 million liters of the United States spirits market in terms of volume.
- In 2018, the super-premium spirits segment accounted for $6.4 billion of the total sales revenue of the United States spirits market.
- The global spirit market grew from 2013 at a CAGR of -3.2% to reach $125 billion as of 2018.
- According to Euromonitor, the market size for global luxury spirits was $15 billion in 2015 and is forecast to reach $17.7 billion by 2020.
To address this request, your research team combed market reports and reputable media such as IBISWorld, Global Info Research (GIR), Grand View Research, PR Newswire, Reuters, and Financial Times for preexisting information on the recent global market size for super and ultra-premium spirits. While we were able to find historical information (2001 through 2009) information on the global market, the most recent information regarding the industry size on the public domain is 2015 information. Recent and current (2018 and 2019) information regarding the global market is locked in paid market reports.
We then proceeded to scour through authoritative agencies' databases, market reports and reputable media such as The Distilled Spirits Council, IBISWorld, Global Info Research (GIR), Grand View Research, PR Newswire, Reuters, and Financial Times for information regarding the size of super and ultra premium spirits regional markets like the North America, Europe & Central Europe, and Asia Pacific markets. While we were able to find information regarding the United States market on the public domain, information regarding the market size of regions like North America, Europe & Central Europe, and the Asia Pacific is locked behind a paywall. Due to the limited information available on the public domain regarding the regional market, we could not proceed to triangulate a proxy for the global industry using this strategy.
Your research team also searched through global spirit industry reports in search of the market share of super and ultra premium spirits segment either in terms of revenue or volume. While we were able to find information regarding the market size (2018 through 2024) and growth rate (from 2013 to 2024) of the global spirits industry, while information regarding the market share of the super and ultra premium spirits segment is locked behind a paywall. However, we have leveraged the market size of the global spirit industry as 2018 and 2019, and its growth rate from 2013 through 2018 to estimate the current size of the global super and ultra premium spirits market as outlined below:
Firstly, We used Omni CAGR calculator, $125 billion (2018) as the final value, -3.2% as the CAGR, and three years (2015 to 2018) as the number of periods to estimate the market size of global spirit industry as of 2015 (initial value) to be approximately $137.81 billion.
We then proceed using the market size of global spirits in 2015, and the market size of super and ultra premium spirits to calculate the market share of super and ultra premium spirits market as of 2015 as follows:
Market share (2015) = the market size of super and ultra premium spirits in 2015 / the market size of global spirits in 2015 * 100
Assuming the super and ultra premium spirits segment of the global spirits industry has maintained its market share from 2016 through 2019 as a result of increased spend on premium spirits by consumers in the developed economies, we proceeded to estimate the 2018 market size for super and ultra premium spirits to be approximately $33.01 billion as follows.
Market size for super and ultra premium spirits (2018) = global spirits market size * the market share of super and ultra premium spirits segment (2018)
Market size for super and ultra premium spirits (2018) = $125 billion * 0.2395 = $30 billion.