Technavio’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.
Segmentation by distribution channel and analysis of the Nordic vodka market
On-trade Off-trade 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.
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 Belvedere Synergy 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
What will the market size and the growth rate be in 2019? What are the key factors driving the Nordic vodka market? What are the key market trends impacting the growth of the Nordic vodka market? What are the challenges to market growth? Who are the key vendors in this market space? What are the market opportunities and threats faced by the vendors in the Nordic vodka market? 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.
Global Vodka Market 2015-2019 Alcoholic Beverage Market in the US 2014-2018 Beer Market in Germany- Market Research 2015-2019 Beer Market in Europe 2015-2019 Global Rum Market 2015-2019
Technavio Announces the Publication of its Research Report – Vodka Market in Nordic Countries 2015-2019
Technavio recognizes the following companies as the key players in the Vodka Market in Nordic Countries: DANZKA Vodka, Belvedere, Synergy, Christiania Spirits and Global Drinks Finland
Other Prominent Vendors in the market are: 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.
Commenting on the report, an analyst from Technavio’s team said: “The online retailing of alcoholic products is one of the interesting trends emerging in the vodka market in Nordic countries. Nordic countries have the most stringent laws and regulations regarding the sale of alcoholic beverages worldwide.”
According to the report, cocktails are alcoholic drinks combined with fruit juices and other liquors and served chilled. The rising cocktail culture among the consumers in Nordic countries is one of the important drivers, which is helping the growth of the market.
Further, the report states that the key challenges faced by the market are government monopoly and high taxation.
DANZKA Vodka, Belvedere, Synergy, Christiania Spirits, Global Drinks Finland, 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.