Vodka Market to Witness Robust Growth in Asia Pacific, Especially in India & China

 

Vodka Market

Vodka is an extremely common alcoholic drink in the world; made through distillation process. It is made from fermented wheat, rye or oats, sugar, and other ingredients. Vodka is generally a clear liquid with varying alcohol content from one brand to another. The amount of alcohol in the vodka varies depending on the type of vodka as well as its location. The European Union has established a minimum alcohol content of 37.5% for vodka, while in the United States, vodka must have a minimum alcohol content of 40%. Since the year 2000, due to evolving consumer tastes and regulatory changes, several 'artisanal vodka' or even 'ultra-premium vodka' brands have appeared. The vodka market is witnessing robust growth due to the increasing varieties of Vodka, available in the market.

For example, in 2020, Pernod Ricard launched L'Orbe Vodka x Caviar, the first vodka naturally infused with caviar. With the ambition to create a new category of luxury white spirits, L'Orbe succeeds in blending natural and authentic alcohols and exceptional ingredients. Whether it is a straight drink or a mixed cocktail, vodka remains one of the most popular and dominating spirits, driving the growth of the vodka market. Nowadays, consumers prefer products with superior ingredients and low-calorie due to rising health consciousness, especially among the younger generation. Thus, the market players are focused on developing new and innovative products to meet the increasing demand keeping in mind the consumer preferences.

For example, in May 2021, BELVEDERE planned to make all its vodkas using organic rye by 2030, starting with its new organic infusions range. The company plans to cut CO2 Emissions by 80%. The production of its core vodka will also switch to the organic crop by the end of the decade, lowering its impact on the planet. This in turn is also expected to accelerate the growth of the vodka market. Apart from this, the demand for alcoholic beverages, in the Asia Pacific (especially in India) has increased due to the change in attitude towards the social consumption of alcohol and increase in consumption of alcohol among women and youth across the country.

For example, in 2019, Pernod Ricard, an alcoholic beverages company had 12% rise in alcohol sales in the Asia Pacific, owing to success of its vodka brand Absolut in the region. Moreover, in 2019, the company’s alcohol sales observed around 20% rise, especially in India and China.


Location: India

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