NEWARK, Del, Nov. 18, 2022 (GLOBE NEWSWIRE) -- The global moonshine market is anticipated to reach a valuation of US$ 314.5 Mn 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 Mn in 2022. An increasing consumer base, an advancing e-commerce sector, and the presence of major brands will fuel the growth in the moonshine market during the forecast period.
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.
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 market 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 market in Europe will demonstrate impressive growth. The target market in this region will account for 40.7% of the global moonshine market 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 market in Europe during the projected period. In addition, North America and Asia Pacific region will also present notable growth during the forecast period.
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
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