The global moonshine market is Projected to grow at a positive compound annual growth rate (CAGR) of 6.6% from 2022 to 2032, with revenues valued at US$ 314.5 million by that time. It is anticipated that the target market would attain an approximate value of US$ 165.4 million by 2022. The existence of big brands, a growing consumer base, and advancements in e-commerce will all contribute to the moonshine industry’s growth over the projection period.
Purists define moonshine as a domestic whisky that has not been matured and is identified by its unique hue, corn base and strong alcohol content. Producers are incentivized to enhance production of whisky due to its affordability as a luxury good.
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Drink enthusiasts generally enjoy whisky, an alcoholic beverage made from fermented grain mash. The term “moonshine” was initially primarily used in Spanish to describe alcoholic beverages with a high proof that were produced without a licence from the authorities. However, because to the growing e-commerce platform, better internet connectivity, the presence of big brands, convenience, and easy accessibility, it is estimated that the moonshine industry would grow significantly over the course of the projected time.
The principal growth drivers for the target market are an increase in whisky accessibility and consumption as well as a shift in whisky consumers’ lifestyle preferences and consumption patterns. The rising consumer appetite for moonshine contributes to the expansion of the moonshine industry Additionally, there is a higher demand for moonshine because to the quick modernisation and urbanisation, particularly in developing nations. The food and beverage industry is beginning to embrace the concept of “premiumization,” which will help the moonshine industry grow throughout the course of the projected period.
“Rising clientele, surging consumption, easy and convenient access will likely propel the global growth of the moonshine market over the forecast period,” says an FMI analyst.
Key Takeaways:
- Shifts in alcohol consumption habits will strengthen market prospects.
- Europe’s moonshine industry is set to account for 40.7% of the overall market share.
- The moonshine industry in North America will hold 34.8% of the global market share.
- The Asia Pacific region is expected to offer several lucrative opportunities to the target market during 2022-2032.
- The flavored moonshine segment will lead the market in the global space.
- Through distribution channels, online retail will significantly contribute to the overall market.
Competitive Landscape
American Born, Appalachian Co. Ltd., Catdaddy Inc., Chicago Distilling, Firefly, Full Throttle, Georgia Moonshine, Midnight Moon, Hudson, and Ole Smoky Tennessee Moonshine among others are some of the major players in the moonshine industry profiled in the full version of the report.
In a competitive market, leading market players employ diverse growth strategies to increase their consumer base and enter new geographical regions. These organizations adopt tactics like new product releases, partnerships, collaborations, mergers, and acquisitions to strengthen their market position.
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More Insights into Moonshine Market Report
In its latest report, FMI offers an unbiased analysis of the global moonshine market, providing historical data from 2016 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of flavor (flavored moonshine (original, apple pie, blackberry, cherries, lemon drop, white lightning, peach, strawberry), non-flavored moonshine), price range (low range price, mid-range price, high range price), distribution channel (moonshine sales via B2B channels, moonshine sales via B2C channels (hypermarkets/ supermarkets, online retail, specialty store, convenience store)), and region.
According to the latest FMI reports, based on segmentation, the online retail segment is expected to perform well owing to the advancing e-commerce industry. In terms of flavor, the flavored segment will make significant contributions to the overall growth as it will likely generate high demand during the forecast period.
Based on region, the moonshine industry in Europe will demonstrate impressive growth. The target market in this region will account for 40.7% of the global moonshine industry share during 2022-2032. An escalating consumer base, increasing consumption in countries like the U.K. and France as well as surging disposable income and shifting consumer perceptions are responsible for the strong growth of the moonshine industry in Europe during the projected period. In addition, North America and Asia Pacific region will also present notable growth during the forecast period.
Key Segments Covered in the Moonshine Industry Survey
Moonshine Market by Flavor:
- Flavoured Moonshine
- Original
- Apple Pie
- Blackberry
- Cherries
- Lemon Drop
- White Lightning
- Peach
- Strawberry
- Non-Flavoured Moonshine
Moonshine Market by Price Range:
- Low Range Price Moonshine
- Mid-Range Price Moonshine
- High Range Price Moonshine
Moonshine Market by Distribution Channel:
- Moonshine Sales via B2B Channels
- Moonshine Sales via B2C Channels
- Hypermarkets / Supermarkets
- Online Retail
- Specialty Store
- Convenience Store
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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