A recent study has revealed that the US craft spirits industry is increasing rapidly, with 1,315 craft distillers active as of August this year.
The study, known as the Craft Spirits Data Project was presented at the Craft Spirits Economic Briefing in New York by the American Craft Spirits Association (ASCA), the International Wine and Spirits Research (IWSR), and Park Street
The country's craft spirits market reached 4.9m cases and $2.4bn in retail sales in 2015, increasing at a compound annual growth rate (CAGR) of 27.4% in volume and 27.9% in value between 2010 and 2015.
According to the report, the market share of US craft spirits reached 2.2% in volume and 3% in value in 2015, up from 0.8% and 1.1% in 2010, respectively.
Exports of US craft spirits reached 523,000 cases in 2015, adding over 10% of more volume to the country's craft distiller total sales.
The craft spirits industry has employed more than 12,000 full time employees in 2016. Investment that has gone in to the industry stands close to $300m in 2015.
Many surveyed retailers and wholesalers are of the view that craft spirits will perform in line or better than craft beer over time.
