Liqueurs Market Overview:
According to Global Status Report on Alcohol and Health 2018, published by World Health Organization, pure alcohol consumption per year averages around 6.4 liters per person, if the population above 15 years of age is taken into account. This statistic is reflective of the demand for alcohol in the world that has remained virtually constant without facing any noticeable downsides. Liqueur is an alcoholic drink that is normally sweet as opposed to its bitter and pungent counterpart: liquor. It is made out of fruits, flowers, seeds, and herbs. A typical bottle of liqueur may contain added sugar and the alcoholic content ranges between 15%--55%. The global demand for liqueur will help the already existing high market revenue to grow at a compound annual growth rate (CAGR) of 1.80% during the forecast period 2019-2025, a noticeable growth over its 2018 market size, which stood at $86 billion.
Based on category, the market can be divided into coffee, chocolate, cream, fruit, herbal, whiskey, schnapps, bitters, and others. Bitters is an Italian liqueur that is often taken as an after dinner digestive, which is why it has gained immense popularity in the world. This application segment will register a considerable CAGR of 1.90% through 2025. This is another reason why Europe has generated the highest market revenue with a regional share of 35% in 2018.
Liqueurs Market Growth Drivers:
Ø Alcohol As A Part Of Human History
According to findings of researchers, human beings have accessed alcohol for merriment for the last 8000 years with Chinese Baijui taking the charge. Since the Neolithic ages, alcohol has undergone considerable developments and innovations with newer forms of liquors and liqueurs released in the market. In the current scenario, alcoholic beverages are served in almost every corporate event, wedding celebration, or non-occasional parties. This is the reason why the liqueur market will continue to witness unstoppable growth.
Liqueurs Market Key Players Perspective:
The liqueur market has experienced a remarkable growth in the past decade owing to the efforts made by its key market players. Some of these key market players are Bacardi Limited, Girolamo Luxardo S.p.A, Lucas Bols B.V., Mast-J?germeister SE, Beam Suntory Inc., Diageo plc, Brown-Forman Corporation, Davide Campari-Milano S.p.A., Lucas Bols B.V., Pernod Ricard SA.
Bacardi Limited, one of the most popular alcohol companies in the world, serves many brands under liqueurs including Get 27, Get 31, Get X Cold, Nassau Royale, Benedictine, Benedictine Single Cask, B&B, St-Germain, Martini Spirito, China Martini, Patron XO Café, Patron Citrónge Orange, and others.
Liqueurs Market Trends:
Ø Vintage Cocktails To Make A Comeback
Since bartenders around the world are constantly looking to mix up drinks in order to come up with innovative drinks, vintage cocktails are making a comeback in eminent bars. The core of these vintage cocktails is Campari, a liqueur that was prominently used in the 19th century.
Ø Cream Liqueur
McCormick Distilling has recently released Five Farms, which is an Irish Cream liqueur. The product has gained noticeable popularity amongst millennials
Liqueurs Market Research Scope
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Liqueurs Market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of liqueur in the Liqueurs Market.
Liqueurs Market Report: Industry Coverage
The liqueurs market can be segmented on the basis of category, type, pack size, and distribution channel. Based on category, the market can be sub-segmented into coffee, chocolate, cream, fruit, herbal, whiskey, schnapps, bitters, and others. By type, the market can be bifurcated into lime, coconut, peach, pineapple, banana, acai berry, blackberry, aloe, apple, banana, black cherries, amaretto, chocolate, and others. Based on pack size, the market can be categorized into <700 ml, 700 ml to 1500 ml, and <1500 ml. And by distribution channel, the market can be sub-segmented into on-trade and off-trade.
The Liqueurs Market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
• North America: The U.S., Canada, Mexico
• South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
• Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
• APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
• Middle East and Africa: Israel, South Africa, Saudi Arabia