Global spirits market rebounds as premium brands drive growthBy Felicia NwosuThe global spirits market is witnessing significant shifts as the travel retail sector bounces back from the effects of the pandemic.
American whiskey also recorded a 28% increase, further cementing the trend towards high-end offerings in the global travel retail (GTR) channel.
The category made headlines in May 2024 when Campari Group acquired Courvoisier from Suntory Global Spirits for $1.2 billion.
Despite the mixed performance of some categories, the overall outlook for the spirits market in travel retail remains positive.
Whether through innovative product launches, sustainability initiatives, or experiential marketing, the future of spirits in global travel retail is bright, with premium brands leading the charge.
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