Vermouth is at the centre of one of the drinks industry's most significant revivals. Its global market is projected to grow from USD 13.04 Billion in 2025 to USD 21.59 Billion by 2033, driven by the resurgence of classic cocktails, a shift towards lower-alcohol drinking, and a growing appetite for artisanal spirits. The Negroni, which depends on vermouth for its structure, has been ranked among the world's most-ordered cocktails for four consecutive years. For Evgeny Strzhalkovskiy, the entrepreneur behind Monte Carlo Vermouth and owner of Scarpa, one of Piedmont's oldest private wineries, none of this is a coincidence.

Why is vermouth making a comeback?

“Vermouth is experiencing the same trajectory that craft gin followed ten years ago,” says Strzhalkovskiy. “A category that was overlooked is being rediscovered by consumers who care about provenance and how something is made. The difference is that vermouth has a deeper history and a stronger connection to food culture. That makes the opportunity even larger.”

How Monte Carlo Vermouth is made: Piedmont, Grasse and Monaco

Launched in 2021, Monte Carlo Vermouth draws on three distinct terroirs: Piedmont’s UNESCO-listed vineyards, where Italian winemakers produce a Moscato d’Asti DOCG base using whole grapes; Grasse, the historic perfume capital of the Côte d’Azur, whose distillers supply the botanical blend; and Monaco itself, whose rose gardens contribute hand-picked petals to the final infusion.

In five years, Monte Carlo Vermouth has secured listings in over forty restaurants and shops across France and Monaco. Awards have followed swiftly: gold medals at the Concours International de Lyon in 2023 and 2024, gold at the London Spirits Competition and the Concours Mondial de Bruxelles, and the Innovation and New Product Award from the Monaco Sommelier Association.

Strzhalkovskiy, is unequivocal about the approach. “We are not trying to compete on volume with the industrial producers,” he says. “We are making a case that vermouth, at its best, deserves the same respect as a fine wine. That means starting with DOCG-classified grapes, not commodity wine, and working with the best possible botanicals. If the liquid is exceptional, the market responds.”

What's driving demand for premium vermouth

The market context supports the bet. Premium and artisanal expressions now account for over a third of new vermouth launches. The cocktail renaissance has been a catalyst: as bartenders rediscover the Negroni, the Americano, and the Martini, they are increasingly discerning about the vermouth that goes into them. Meanwhile, the broader shift towards lower-alcohol drinking has repositioned vermouth from a mixer to a category in its own right, served neat over ice or with tonic.

“People are drinking less, but they are drinking better,” Strzhalkovskiy says. “Vermouth sits perfectly at that intersection: complex enough to reward attention, moderate enough to suit the way people actually want to drink now. And unlike many spirits, it has an inherent connection to food - to the aperitivo tradition, to the table. That gives it a relevance that goes beyond the bar.”

Why it is called Monte Carlo Vermouth

Monte Carlo Vermouth is officially licensed by the owner of the Monte-Carlo trademark. For Strzhalkovskiy, who lives in the principality with his family, the name is not a marketing device, but a reflection of a personal attachment to Monaco and the values it represents.

By anchoring its identity in Monaco - a jurisdiction protective of its name and synonymous with a particular standard of excellence - the brand occupies territory that other industrial producers find difficult to replicate “Monaco is not just a name on the label,” Strzhalkovskiy explains. “It represents a set of values: excellence, discretion, savoir-faire.”

The question now is whether the premium vermouth category can sustain the momentum. If the craft gin boom offers any precedent, the answer is likely yes - provided producers maintain the quality and provenance that attracted consumers in the first place. 

Is the vermouth boom sustainable?

Strzhalkovskiy is sanguine. “You cannot fake terroir,” he says. “You cannot shortcut the relationship between a DOCG vineyard, a master distiller, and a historic rose garden. The category will grow, and we intend to grow with it - but always on the terms that made the product worth making in the first place.”

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