Liqueur Beverage Market Worldwide Prospects, Share, Crucial Players, Size & Forecast – 2027
The global liqueur market witnesses a thriving growth all
over the world. Clearly, there is huge consumer demand, and for a good reason.
Liquor stores have shelves lined with a seemingly endless range of flavored
vodka, rum, bourbon, and tequila. The main processes of production of Liqueurs
are infusions, maceration, and or distillation of herbs, spices, fruits, etc.
or just flavored alcohol with highly concentrated extracts.
According to Market Research Future (MRFR), the global
Liqueur market is expected to reach USD 114.29 BN by the end of 2024. In its
recently published analysis, MRFR also asserts that the market would register a
CAGR of 3.19% over the forecast period (from 2019 to 2024). Changing
consumption patterns and augmenting demand for new flavors and ingredients
drive the growth of the market.
Market players strategies to launch a new product is also
encouraging the growth of the Liqueur market. Innovations in distillation
techniques and increasing consumer preferences help in market expansion. Besides,
substantial initiatives in R&D to develop a new technology or distinctive
tastes and flavors drive the growth of the global liqueur market. Rapidly
growing youth population and the increasing disposable income impacts the
market growth, positively.
Despite the growth opportunities, Liqueur as a category
faces a lot of challenges. The primary issue is the shifting alcohol
consumption patterns; for instance; younger generations are switching to
alcoholic beverages of lighter taste, alcohol amount, calories, etc. Low abv
beers, flavored ciders, mixed drinks, brown spirits popularity, gin
resurrection are just a few of the examples of lighter alcoholic
beverages.
Also, excessive tax imposition on liqueurs in many countries
across the world is impeding the growth of global liqueur market. Nevertheless,
rapid growth in the hospitality industry led by the increasing spending
recreational activities is forecasted to fuel the growth of liqueur market. The
emphasis on traditions and innovation in Liqueur are the key to make category
relevant.
Additionally, changing lifestyle and increased acceptance
for alcoholic beverages in developing countries are anticipated to boost the
market growth. Such factors would commutatively support the growth of the
global liqueur market, encouraging sales across various segments.
Global Liqueur Market – Segments
The report is segmented into three market dynamics to
widen the scope of understanding,
By Type : Fruit,
Coffee, Chocolate, Herbs & Spices, and Creme & Cream, among others.
By Distribution
Channel : Food Service and
Retail (Supermarkets & Hypermarkets and Specialty Stores, others), among
others.
By Regions : Europe, North America, Asia Pacific, and the Rest-of-the-World (RoW).
Global Liqueur Market – Regional Analysis
North America dominates the global Liqueur
Beverage Market due to the high disposable income in the region.
The rising demand for Liqueur from the hospitality industry and as well as
households, is a key driving force. Furthermore, relaxation in liqueur
production regulations is expected to support the regional market in creating
larger revenue pocket.
The region would hold on to its dominance over the global liqueur market
throughout the forecast period.
Europe is another lucrative market for liqueurs, globally. The presence
of key market players and high consumption of the liqueurs in these regions is
a significant tailwind thrusting the regional market forward. Besides, rising
per capita income and liqueur enthusiasts, alongside, the influence of media
industry impacts the regional market growth positively.
The liqueur market in the Asia Pacific region has emerged as a
profitable market globally. The increasing disposable incomes resulting in
rising spending for recreational purposes; which in turn, is foster the growth
of the liqueur market in this region. Besides, increasing hospitality industry
supports the growth of the regional market, witnessing increasing consumption
of liquors. The region is projected to register the highest CAGR throughout the
forecast period.
Global Liqueur Market – Competitive Analysis
Fiercely competitive, the Liqueur market appears to be fragmented due to
the presence of several large and small-scale players. Growth in terms of
product innovations and distillation techniques and technologies are also
expected to create strong investment opportunities for these players. Focused
on improving their market performance, these players acquire promising
companies to expand in the fast-growing markets.
Browse Complete Report @
https://www.marketresearchfuture.com/reports/liqueur-market-4606
Major Players:
Players leading the liqueur market include Beam Suntory, Inc. (US),
Bacardi Limited (Bermuda), The Brown–Forman Corporation (US), Davide
Campari-Milano S.p.A. (Italy), Diageo plc (UK), Girolamo Luxardo S.p.A (Italy),
Amarula Cream (South Africa), Lucas Bols BV (Netherlands), Empee Distilleries
(India), Pernod Ricard SA (France), Mast-Jägermeister SE (Germany), Remy
Cointreau (France), United Breweries Holdings Limited (India), DeKuyper Royal
Distillers (France), and Globus Spirits Ltd. (India), among others.
Industry/
Innovation/ Related News:
August 28, 2019
----- Pernod Ricard (France), a leading global producer of wines &
spirits announced the acquisition of Castle Brands (the US), a leading global
developer and marketer of premium & super premium alcoholic beverages.
Through this acquisition, a great brand portfolio, in particular, Jefferson’s
bourbon whiskey, is adding to the Pernod Ricard family. Bourbon is a major
category in the US which is the most important market for Pernod.
This deal aligns well with Pernod’s consumer-centric strategy to offer
its consumers the broadest line-up of high-quality premium brands. As with
Pernod’s American whiskeys, it would provide a reliable route to market, while
remaining true to its authentic and innovative character.
Contact us:
Market Research Future (part of
Wantstats Research and Media Private Limited),
99 Hudson Street,5Th Floor, New
York, New York 10013, United States of America
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