The 2021 growth rate was more than double the average 18 percent annual rate observed over the previous five years, the Distilled Spirits Council of the U.S. said as it released its Luxury Brand Index.
“Faced with restaurant and travel restrictions brought on by the pandemic, consumers increased their purchases of luxury spirits to elevate their cocktail experiences at home,” said Christine LoCascio, DISCUS chief of public policy.
Tequila saw the biggest gains with 75% annual growth rate followed by American Whiskey and Cognac at 46% and 31%, respectively. With the repeal of tariffs, Scotch Whisky rebounded with a strong 20% growth rate after showing losses during 2020. Irish Whiskey rose 9% while Japanese Whisky was nearly flat.
Over the five years between 2016 and 2021, Cognac grew 19%, Tequila, 43%; American Whiskey, 48%; Scotch Whisky, 6%; Irish Whiskey, 13%; Japanese Whisky, 6%.
The LBI tracks the performance 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.