Euromonitor International and Drinks International have recently published the millionaires list, a ranking of spirits brands globally which have sales of over one million 9-litre cases. This year a record 162 brands made it into the club.
Among the new entrants to the Millionaires list were the top producers of Soju, a popular Korean drink. The market reached 1.2 billion litres in 2009. Although the Soju market took a slight dip in 2009, the Lotte Chilsung brand performed well because of recent acquisitions of other manufacturers. The market for Soju will remain large in Korea.
The interesting part of the Millionaires list this year is the many international brands that have made the list, including the Indian spirits giant United Spirits Limited. United Spirits holds over 40% of the spirits market in India and has 19 brands on the Millionaires list – and two of those brands were new market entrants. The strong distribution network that United Spirits has in India points to its strength there.
Overall, the Millionaires list is expected to expand within the coming years. Consumers have more purchasing power, therefore, are able to purchase branded spirits. New spirits are constantly being launched, offering consumers a variety of options. Savvy consumers are also purchasing economy brands, which regional players are offering in the market.
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