A large increase in luxury spirits market in USA
According to a new report by the Distilled Spirits Council of the United States (DISCUS), the volume sales of luxury spirits increased by 125% between 2015 and 2020. The industry body published the Luxury Brand Index (LBI), a tool that records sales of spirits brands at $ 50 or more for a 750ml bottle.
DISCUS is the national trade association that represents the producers and sellers of distilled spirits sold in the United States. The organization was founded in 1973 by the merger of 3 associations that had existed for decades.
The LBI tracks sales across six categories: American whiskey, Irish whiskey, Japanese whisky, Scotch single malt, tequila and cognac. The results will be published quarterly.
In its first report, LBI showed how much the luxury alcohol market has grown over the past few years. In 2015-2020, high-end brands recorded a total annual growth rate (CAGR) of 17.7%, compared to 2.5% for all spirits.
Discus Senior Vice President, Economic and Strategic Analysis, David Ogzo, said: “Across all major spirits categories, consumers are captivated by the quality, exclusivity and heritage of luxury brands,”
This upward trend shows no signs of slowing down in 2021. In the first half of the year, the volume of luxury alcohol sales increased by almost 25%.
Source: www.thespiritsbusiness.com
