New York, NY -- (SBWIRE) -- 07/28/2017 -- Following the success of craft beer over the past few decades, the spirits industry is starting to take hold of the craft movement. Indeed, there is a shift happening in consumer preferences, away from mass-produced brands and towards spirits made with craftsmanship. Authentic experiences are in demand and more consumers are looking to experiment with innovative and quirky flavored spirits. This has led a number of distillers to increase their craft offerings to gain an early foothold in this emerging market.
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Key Findings
There are numerous opportunities within the craft spirits market and this has brought about innovation themes such as the incorporation of innovative and/or medicinal ingredients. However, there are also challenges that distillers must address to be successful. The definition of "craft" is blurred as multinationals can legally use the claim, even when they do not fit the 'official' craft definition. The spirits industry is also dominated by larger brands, making it difficult for small distilleries to gain retail recognition. From these challenges, innovation opportunities are drawn, including the use of events and/or technology to emphasize craftsmanship.
Synopsis
"Opportunities in Craft Spirits" is part of Hot Topics research. It explores the top trends and innovation themes within the craft spirits industry.
Reasons to Buy
- Understand the relevant consumer trends and attitudes that drive and support innovation success so you can tap into what is really impacting the industry.
- Gain a broader appreciation of the fast-moving consumer goods industry by gaining insights from both within and outside of your sector.
- Access valuable strategic take-outs to help direct future decision-making and inform new product development.
Table of Content: Key Points
1. Introduction
2. Consumer attitudes
3. Innovation opportunities
4. Key take-outs
5. What next?
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