The US spirits market, which has witnessed negative compound annual growth rate (CAGR) between 2006 and 2011, will improve and result in positive rate during the period 2011-16, says a report by Canadean Wine & Spirits.
According to the report "The Future of the Spirits Market in the US, to 2016", the CAGR of the American spirits market which was -1.77% during 2006-2011, will increase to 1.12% by 2016.
The year-on-year (y-o-y) growth rate which was -9.2% in 2007, has been fluctuating through the years till 2011, when it was 0.9%; in 2012 the market recorded 0.6% growth.
In 2013 and 2014, the y-o-y rate is expected to be 1% and 1.2% respectively, while in the subsequent two years it will be 1.4% each.
The y-o-y rate of per capita spirits consumption which was -10.1% in 2007 and has mostly been negative through the years, will better to 0.4% in 2016.
Among the various categories in the market, Tequila & Mezcal is the only one that had a positive CAGR of 1.28% between 2006 and 2011. During the subsequent six years till 2016, however, all the categories are expected to post a positive CAGR, with Tequila & Mezcal recording the highest of 3.02%, followed by Rum & Cane Spirits 1.61%, Vodka 1.46%, Specialty Spirits 1.21%, Liqueurs & Cocktails 1.10%, Gin & Genever 0.97%, Brandy 0.40% and Whiskey 0.11%.
