Jan 16, 2020 (Heraldkeepers) — The United States distilled spirits market is estimated to grow at a CAGR of 3% during the forecast period. According to the Distilled Spirits Council, nearly 63% of the US whiskey exports have faced retaliatory tariffs from the EU, China, Turkey, Canada, and Mexico. The US-China trade war and the new tariffs levied by the US on EU imports are some of the major factors that can be considered to derail the US distilled spirits market growth. These actions of the country will further affect the distilled spirit industry of the US in the near future.
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The presence of several distilled spirit manufacturers includes Remy Cointreau SA, Pernod-Ricard SA, Brown-Forman Corp., Diageo plc, Marie Brizard Wine & Spirits, Lapostolle SA, Constellation Brands Inc., and Berentzen-Gruppe AG
According to the Distilled Spirits Council, since the EU has imposed 25% retaliatory tariffs on American whiskey in 2018, the exports have declined to nearly 21%. Moreover, China has imposed 54% retaliatory tariffs on the US wine imports, which has considerably decreased, nearly 57% decline in trade of the US with China. In October 2019, the US imposed retaliatory tariffs on around $7.5 billion worth of EU goods. French wine, Airbus, and Scottish whiskeys were among the major targets of the tariffs.
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The presence of several distilled spirit manufacturers includes Remy Cointreau SA, Pernod-Ricard SA, Brown-Forman Corp., Diageo plc, Marie Brizard Wine & Spirits, Lapostolle SA, Constellation Brands Inc., and Berentzen-Gruppe AG among others is further anticipated to make a significant contribution to the growth of the distilled spirit market. These major market players are constantly focusing on new product launches and widening their product lines to remain competitive in the distilled spirits market. For instance, in October 2019, Brown Forman Corp. announced that it has reached an agreement to purchase the 86 companies and Brown-Forman adds Fords Gin, a premium gin to its portfolio. Fords Gin is a brand with terrific momentum and is the fastest-growing category in spirits. The company is producing unique, high quality and mixable gin.
United States Distilled Spirits Market Segmentation
United States Distilled Spirits Market by Type
United States Distilled Spirits Market by Distribution Channel
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