It’s a mixed picture for one of the broadest categories, as vodka faces category maturity and increased competition.

Vodka remains one of the Millionaires’ Club’s broadest categories, but its performance continues to be defined by contrasts between mature international giants and resilient regional brands. Across the 36 vodka millionaires in the 2026 data, combined volumes edged up from 139.2 million to 142.7 million cases, suggesting that the category is stabilising amid continued turbulence in one of its heartlands.

While the category has been a moving picture in recent years, Smirnoff has always remained comfortably the world’s largest vodka brand, but the Diageo giant’s decline from 24.3 million to 23.4 million cases continues a recent pattern of pressure at the top end of the table. Absolut, by contrast, moved ahead slightly to 12.3 million cases, while Ukraine’s Hlibny Dar rose 5% to 10.5 million. Żubrówka slipped to 9.2m cases – the Polish bison grass-flavoured brand hasn’t broken the 10 million case barrier since 2022.

The standout growth story is Magic Moments. Radico Khaitan’s brand increased from 7.1 million to 8.2 million cases, up 15.5%, extending the momentum that has made it one of vodka’s most consistent recent performers and proving the growth potential of the Indian market isn’t limited to the region’s more historically established categories. Ketel One also improved sharply, rising 20% to 3.6 million cases, while several eastern European and Russian-linked brands, including Arkhangelskaya, Derevenka and Five Lakes, posted modest gains.

However, vodka’s overall picture remains mixed. Declines for Smirnoff, Żubrówka and Husky show that scale does not guarantee momentum, particularly in markets where vodka is fighting both category maturity and competition from brown spirits, tequila and local alternatives.

Read the full ranking and all other category analyses in The Millionaires’ Club 2026.