Millennials Drive Craft Spirit Boom

Craft spirits have accounted for one in seven new global launches in 2016, compared to one in 20 in 2011, an increase of 265 per cent.

America has led the trend, accounting for 49 per cent, while 42 per cent were launched in Europe, 4 per cent in Latin America and 3 per cent in Asia Pacific – reflecting consumer demand, as 55 per cent of consumers in America, 55 per cent of consumers in France, 53 per cent of consumers in Italy and 37 per cent of consumers in Britain believe craft spirits and liqueurs are worth paying more for than mass-produced beverages.

Millenials are a driver of this trend, with 34 per cent of British Millennials and 75 per cent of American Millennials willing to pay more for what they see as higher quality spirits.

Jonny Forsyth, global drinks analyst at Mintel said, “Craft spirit launches are growing at a rapid pace and will continue to rise in more mature markets – particularly the US – as consumers continually seek out ‘special’ offerings. Despite being a relatively small sector of the market, craft spirits are growing in response to the huge consumer-led demand for more authentic, more distinctive, more local, less processed and more interesting spirit brands.”

“Millennials are a driving force behind the growth of craft spirits, having taken their ‘creative’ and ‘unique’ ethos into their spirits-buying habits. Rather than wanting to affiliate themselves with bigger brands, Millennials often seek to define themselves by more niche, higher quality brands with a quirky backstory; and ideally, they are brands their peers have not even heard of.”