(Entertainment-NewsWire.com, May 12, 2017 ) Publisher's market research analyst predicts the Nordic vodka market to grow at a CAGR of around 4% during the forecast period. The rising demand for premium vodka and the growing cocktail culture are the key drivers for the growth of the market. The region is witnessing a growth in bars exclusively dedicated for cocktails. For instance, 1105 and Curfew are bars that are exclusively dedicated for cocktails in Copenhagen, Denmark.
The high taxation imposed on alcoholic drinks in the Nordic region is expected to deter the growth of the market during the forecast period. For instance, Norway imposes around USD 97 per liter of 100% alcohol as an excise tax. The average tax imposed by most of the European Union countries on per liter of 100% alcohol is around USD 7.
Segmentation by distribution channel and analysis of the Nordic vodka market
On-trade Off-trade The off-trade segment is the largest distribution channel in the Nordic region and consists of government-monopolized liquor stores, grocery stores, and gas stations.
Product segmentation and analysis of the Nordic vodka market
Flavored vodka Unflavored vodka Unflavored vodka dominated the Nordic market during 2014 with a market share of around 82%. However, the report predicts the flavored segment to be the fastest growing segment during the forecast period.
The vodka market in Nordic countries, except Denmark, is dominated by government monopolized companies.
The leading vendors in the market are -
DANZKA Vodka Belvedere Synergy Christiania Spirits Global Drinks Finland Other prominent vendors in the market include Arcus, Brown-Forman, Cape North, Constellation Brands, Heavy Water, K V Spirits, Marie Brizard Wine & Spirits Scandinavia, Purity Vodka AB, Saturnus AB, Spirits of Gold AB, V&S Group, and William Grant & Sons.
