Innovations In Spirits - Key Product Trends And Growth Strategies

Innovations in Spirits: Key product trends, growth strategies and forecasts to 2012

Alcoholic drinks were previously considered by many to be relatively immune from recessions. This is not the case upon closer investigation of the spirits market, which by its nature, is a more premium sector than beer or wine.( http://www.bharatbook.com/detail.asp?id=134181&rt=Innovations-in-Spirits-Key-product-trends-growth-strategies-and-forecasts-to-2012.html )

The processing, the ingredients, the high alcohol by volume content, all contribute to a more expensive product in general. Clearly, there are economy variants available on the market, but this has only led to a trend towards high volume & low value sales growth which is not favoured by spirits producers or retailers. Every year thousands of new products in the spirits industry are launched by manufacturers hoping to gain consumers interest with innovative developments.

The industry must now tackle head-on the issues surrounding responsible drinking, demand for high-quality at a lower price, and rising costs of raw materials/ingredients. Whats more, the industry faces a major challenge after years of seeking the premium and super-premium dollar, consumer shopping and drinking habits have changed quickly in response to the global economic meltdown leaving many players reporting a fall in sales in their 2009 results. They must consider how to ride out the storm, prepare for a time when spending is up again and when the on-trade is no longer suffering quite so dramatically. Monitoring consumer habits, financial data and investing in continued NPD, marketing and sales are all vital to success.

This report provides timely insight into the spirits market in developed markets such as the US and emerging regions such as Latin America and Central and Eastern Europe. This report is written with a focus on the next two years, following in-depth analysis of NPD, branding and marketing activity that has occurred in the global spirits market over the past three to four years. The report offers actionable strategies for spirits brands with insight into new product launches, marketing campaigns and flavors/ingredients developments. The report analyzes activity by sub-category (brandy, gin, liqueurs, rum, specialty spirits, tequila & mescal, vodka and whisky) and region (Asia Pacific, Europe, Latin America, Middle East & Africa, North America and multi-region). The unrivalled high-level qualitative and quantitative research puts this report leagues ahead of competitor reports which tend to focus on one particular region and/or category. This off-the-shelf market outlook report provides invaluable and in-depth research and analysis alongside future forecasts based on lengthy analysis and investigation into the market.

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