Russian spirits market, which declined in the last five years, is anticipated to take a positive turn in the years to come, finds a new report by UK-based research firm Canadean – Wines & Spirits.
From being 10% lower in 2011 over 2006, the market size is on course to post 2.7% increase by 2016 over 2011, according to the report 'The Future of the Spirits Market in Russia, to 2016'.
The compound annual growth rate (CAGR) of Russian spirits market is also forecast to be improving during 2011-16 to 0.53% compared to -2.10% recorded in 2006-11 period.
Among segments, brandy and rum & cane spirits are likely to show slowdown in growth rate, while others including gin & genever, liqueurs & cocktails, specialty spirits, tequila & mezcal, vodka and Whiskey are anticipated to improve their growth rate in the next five years.
Whiskey, compared to others, managed a notable improvement in growth rate moving from -1.97% to 2.99%.
In terms of market size, Vodka has been the clear leader during 2006-11 period holding about 90% share and is expected to continue the momentum with similar share until 2016.
Vodka, however, is likely to lose a bit of its share to brandy going forward. Canadean's analysis reveals that Vodka has dropped from 90% in 2006 to 88.5% in 2011 and likely to go down marginally further to 88% in 2016.
Brandy, on the other hand, improved its share from 4.5% in 2006 to 6% in 2011 and on its way to improve further to 6.6% in 2016.
Canadean report also provides segment-wise market dynamics, consumption analysis, and volume analysis - by channel, brands, price segment, and alcoholic strength in Russian spirits market - for the 10-year period.
