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The global spirits market grew by 3.2% in 2010 to reach a value of $262,491.4 million. By 2015, this has been forecast to increase to a market value of $306,388.5 million, which would show a compound annual growth rate (CAGR) of 16.7% since 2010.
In volume terms, the spirits industry has been projected to increase from a volume of 19,114.8 million litres in 2010, to hit 21,189.4 million litres over the same time frame.
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.
The spirits industry is on the path to recovery following a hard 2009 during which many markets were affected by the credit crunch. Several countries and categories are returning to stability or growth over the coming years, but the time and speed of recovery will vary considerably depending on local circumstances.
2011 continued to see further consolidation in global spirits, with the top 10 companies increasing their share of the category to almost 26%. Growth was driven by a mixture of organic growth, and through notable company acquisitions.
Smirnoff vodka took the top spot when it comes to the best selling 'international spirits brand' in 2010/2011. Bacardi rum and Johnnie Walker Scotch whisky placed second and third, while Green Mark Russian vodka edged out Absolut vodka for fourth largest selling international brand.
For more information on the global spirits market, see the latest research: Global Spirits Market
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