Luxury spirits brands grew 37% in the first quarter from a year earlier, according to the Distilled Spirits Council of the U.S.’s Luxury Brands Index. “The gradual uptick in on-premise cocktail occasions continued to drive premiumization trends into the first quarter of 2022,” said Christine LoCascio, DISCUS chief of public policy. “Consumers who chose luxury brands when experimenting with at-home cocktails during the height of the pandemic have maintained their preference for these special brands while enjoying spirits at bars and restaurants.”
- Consumer fascination with Tequila continues to soar with the Mexican spirit achieving a 63% annual growth rate followed by American Whiskey at 46%.
- With the lifting of the retaliatory tariffs in June 2021, Scotch Whisky continues its strong rebound in the U.S. with a 34% growth rate after showing losses during the period when the tariffs were in effect.
- Cognac growth slowed slightly with an annual growth rate of 18%, Irish Whiskey increased 15%, and Japanese Whisky remained nearly flat.
Over the five years between the first quarter of 2017 and 2022, all spirits categories included in the LBI increased annual growth ranging from 5% to 46%, with an average rate of 23%.
The LBI tracks the volume sales of spirits brands that have a 750ml retail price of $50 or more. Retail prices were calculated by IRI Worldwide using retail scanner data. Volumes were derived from DISCUS’ proprietary brand data.