The global moonshine market is anticipated to reach a valuation of US$ 314.5 Million by 2032, with sales growing at a positive CAGR of 6.6% from 2022 to 2032. The target market is further expected to reach an estimated US$ 165.4 Million in 2022. An increasing consumer base, an advancing e-commerce sector, and the presence of major brands will fuel the growth in the moonshine industry during the forecast period.
Moonshine, according to purists, is an unaged, domestic whisky distinguished by its distinct colour, corn base, and potent alcohol level. Since whisky is an inexpensive luxury good, producers are motivated to increase production of these products.
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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 poised to strengthen market prospects.
- Europe’s moonshine industry to command 40.7% of the global market share.
- North America’s moonshine industry expected to hold 34.8% of the global market share.
- Asia Pacific region offers lucrative opportunities during 2022-2032.
- Flavored moonshine segment to lead the global market.
- Online retail distribution channel set to significantly contribute to the overall market.
Competitive Landscape: Major players in the moonshine industry include American Born, Appalachian Co. Ltd., Catdaddy Inc., Chicago Distilling, Firefly, Full Throttle, Georgia Moonshine, Midnight Moon, Hudson, and Ole Smoky Tennessee Moonshine, among others. In a competitive market, leading players employ growth strategies like new product releases, partnerships, collaborations, mergers, and acquisitions.
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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