The moonshine market size expects a significant valuation bump, from US$ 13,999.6 million in 2024 to US$ 23,099.4 million in 2034. The updated report points to a CAGR of 6.50% CAGR from 2024 to 2034. That is a slight improvement from the previous CAGR of 5.70% observed between 2019 and 2023.
Many pure alcohol enthusiasts describe moonshine as an unaged, home-brewed whisky that is distinctive in its clear color, corn base, and heavy alcohol content. Whiskey is a low-cost luxury item that encourages several whiskey manufacturers to produce more such luxury goods for the marketplace.
An alcoholic beverage produced from fermented grain mash, whiskey is quite popular among alcoholic beverage enthusiasts. Initially, Moonshine was mainly a Spanish term for high-proof alcoholic drinks that were produced illegally and without government approval. However, due to the advancing e-commerce platform, greater internet connectivity, the presence of major brands, and convenience and easy accessibility, the market for moonshine is expected to grow significantly during the projected period.
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A surge in the consumption and accessibility of whiskey as well as a change in whiskey lifestyle choices and consumption habits act as primary growth drivers for the target market. The growing consumer preference for moonshine further aids the moonshine market growth. Additionally, rapid modernization and urbanization, particularly in emerging countries have generated greater demand for moonshine. The notion of ‘ premiumization’ is gaining popularity in the food and beverage industry which will further boost the moonshine market during the forecast 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 market is set to account for 40.7% of the overall market share.
- The moonshine market 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.
Recent Developments
- In April 2024, Casey Jones Distillery announced the re-release of its Total Eclipse Moonshine. This launch is on the occasion of the total solar eclipse on April 8, 2024.
- In August 2023, Moonshine Meadery launched Lemon Tea Mead. It is crafted using lemon zest and the Earl Grey Tea by VADHAM India. The company aims to master bee conservation and promote sustainable beekeeping practices.
- In April 2023, American rapper Nelly launched MoShine, a new moonshine brand. The new brand was developed in partnership with Piedmont Distillers. It is available in peach and passion fruit flavors.
Key Players in the Market
- Ole Smoky Distillery
- Sugarlands Distilling Company
- Junior Johnson’s Midnight Moon
- Firefly Distillery
- Stillhouse Spirits Co.
- Doc Collier Moonshine
- Hatfield & McCoy Moonshine
- Kings County Distillery
- Appalachian Mountain Spirits
- Buffalo Trace White Dog
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Moonshine Market Segmentation
By Flavor:
- Flavored
- Original
- Apple Pie
- Blackberry
- Cherries
- Lemon Drop
- White Lightning
- Peach
- Strawberry
- Non-flavored
By Price Range:
- Low Range
- Mid-range
- High-range
By Distribution Channel:
- B2B Channels
- B2C Channels
- Hypermarkets/Supermarkets
- Online Retail
- Specialty Store
- Convenience Store
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
- Japan
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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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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