Around 90% of people worldwide consider spirits to be an affordable luxury. No longer is drinking vodka, rum and gin just a means of intoxication – it's an experience to be savoured. But with the definition of ‘craft’ unclear, is it becoming little more than a marketing tag?

Flavoured whiskies are the fastest-growing segment in the bourbon industry, accounting for nearly 75% of whisky growth in 2012. And people are clamouring for cotton candy-flavoured vodka and cinnamon-spiked rum too. But who are these sugar-sweet variants targeted at, and is it more than a passing fad?

'Vintage' used to imply authenticity – but as the definition becomes fluid, it's being applied more and more liberally. Established in 1999, Hendrick's gin is a brand without heritage that feels inherently authentic just by virtue of association.

Just like beer before it, spirits are getting the craft treatment. Tapping into the emphasis on quality over quantity, Diageo has launched an accelerator programme to raise the next generation of craft distilleries. But why isn’t Diageo just creating its own premium brand?