Vodka Market Size Worth $52.39 Billion By 2028 | CAGR 5.5%
Vodka Industry Overview The global vodka market size was valued at USD 35.9 billion in 2021 and is expected to expand at a CAGR of 5.5% from 2022 to 2028. This can be credited to growing consumption of the premium version of the vodka cocktails from the developed economy such as the U.S. and Germany. The growing demand for flavored cranberry, lime, and raspberry vodka enhancing the sales of white spirits. Moreover, the growing trading of alcoholic beverages through offline trading is further anticipated to boost the market growth over forecast period. During the COVID-19 pandemic, consumer's drinking habits have changed significantly, shifting consumption from bars and restaurants to the home. For many, alcohol is part of their social life, which has been severely disrupted by COVID-19. According to preliminary government tax receipt data, alcohol sales in Germany, the UK and the US increased by 3% to 5% in 2020 compared to 2019. A slump in alcohol sales in bars and restaur...