Tuesday, 9 August 2016
Nordic Countries Vodka Market Is Predicted To Grow At A CAGR of Around 4% By 2019: Hexa Reports
Hexa's market research analyst predicts the Nordic vodka market to grow at a CAGR of around 4% during the forecast period. The rising demand for premium vodka and the growing cocktail culture are the key drivers for the growth of the market. The region is witnessing a growth in bars exclusively dedicated for cocktails. For instance, 1105 and Curfew are bars that are exclusively dedicated for cocktails in Copenhagen, Denmark.
The high taxation imposed on alcoholic drinks in the Nordic region is expected to deter the growth of the market during the forecast period. For instance, Norway imposes around USD 97 per liter of 100% alcohol as an excise tax. The average tax imposed by most of the European Union countries on per liter of 100% alcohol is around USD 7.
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Segmentation by distribution channel and analysis of the Nordic vodka market
The off-trade segment is the largest distribution channel in the Nordic region and consists of government-monopolized liquor stores, grocery stores, and gas stations.
Product segmentation and analysis of the Nordic vodka market
• Flavored vodka
• Unflavored vodka
Unflavored vodka dominated the Nordic market during 2014 with a market share of around 82%. However, the report predicts the flavored segment to be the fastest growing segment during the forecast period.
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Competitive landscape and key vendors
The vodka market in Nordic countries, except Denmark, is dominated by government monopolized companies.
The leading vendors in the market are -
• DANZKA Vodka
• Christiania Spirits
• Global Drinks Finland
Other prominent vendors in the market include Arcus, Brown-Forman, Cape North, Constellation Brands, Heavy Water, K V Spirits, Marie Brizard Wine & Spirits Scandinavia, Purity Vodka AB, Saturnus AB, Spirits of Gold AB, V&S Group, and William Grant & Sons.
Key questions answered in the report include
1. What will the market size and the growth rate be in 2019?
2. What are the key factors driving the Nordic vodka market?
3. What are the key market trends impacting the growth of the Nordic vodka market?
4. What are the challenges to market growth?
5. Who are the key vendors in this market space?
6. What are the market opportunities and threats faced by the vendors in the Nordic vodka market?
7. What are the key outcomes of the five forces analysis of the Nordic vodka market?
Technavio also offers customization on reports based on specific client requirement.
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