Specialty Spirits Market Sales Revenue, Grow Pricing and Industry Growth Analysis
Specialty spirits are region-specific, traditional alcoholic drinks. Báijiu in China, shochu in Japan, soju in South Korea, raki in Turkey, and cachaça in Brazil are a few popular specialty tipples in the global market, among which báijiu is prominently purchased and consumed. The Chinese consumer is gravitating toward imported spirits and the competition is stiff thanks to a multitude of products. Drinks such as shochu and soju are also catching on with consumers around the world due to clever advertising and product placements. The specialty spirits market is expected to expand in the next few years due to a growing demand from the developing countries in Asia Pacific. The strong restriction on the advertisement of alcoholic drinks in many countries has not hampered this market. For instance, Chinese drink báijiu is popular among consumers in the U.S. and its demand is anticipated to increase significantly in the near future. Many Asian re...