The global demand for liqueur market is estimated to reach USD 130.23 billion in 2023 and is projected to reach a revised size of USD 181.93 billion by 2033. The market is expected to register a CAGR of 3.4% over the forecast period.
Due to its unique taste and availability in different flavors, the liqueur is becoming popular as an after-dinner digestive, appetizer, and cocktail ingredient. The liqueur market is also experiencing an increase in demand for different types of liqueurs due to the market’s growing popularity.
During the forecast period, liqueurs are likely to be used in baked goods, confectionery, and desserts, resulting in increased consumption of these products. Liqueurs are also likely to be used in chocolate, truffles, and other recipes, contributing to market growth. The increasing popularity of liqueur types among the youth, such as Grand Marnier, Amaretto, Sambuca, Cointreau, Bailey’s Irish Cream, and Kahlua, liqueur prices are also driven by this factor.
“The liqueur is also becoming popular as an after-dinner digestive, appetizer, and cocktail ingredient due to its unique taste. The liqueur market is also experiencing an increasing demand for different types of liqueurs.” says a lead analyst at Future Market Insights.
Key Takeaways from Market Study
- The liqueur market is expected to record a CAGR of 3.4% over the forecast period.
- According to estimates, the liqueur market in North America will remain strong throughout the forecast period.
- In 2023, the United States held a 78% share of the liqueur market, and the demand for liqueurs is expected to remain strong in North America.
- With a 50% share of the market in Asia Pacific, the liqueur market in China is anticipated to increase by 3.5% in the next few years.
Competitive Landscape:
Several prominent companies dominate this market, including Bacardi Limited, Beam Suntory Inc., Brown-Forman Corporation, Diageo Plc, Davide Campari-Milano S.p.A., GirolamoLuxardo S.p.A, Lucas Bols B.V., Mast-Jägermeister SE, Pernod Ricard SA, Remy Cointreau, DeKuyper Royal Distillers, E. & J. Gallo Winery, Peel Liqueur, Sazerac Company, Stock Spirits Group.
Key manufacturers employ a variety of strategies to compete in an increasingly competitive environment, including the launch of updated products, and the approval of mergers and acquisitions, partnerships, and collaborations.
Recent Developments:
- In June 2019, Shipyard launched Low Tide, launched a pale ale with minimal alcohol content. Based on the name, Low Tide has an alcohol content of only 0.5%. According to the firm, the new launch is an alternative for quality low alcohol.
- Introduced in 2021, a new zero-alcohol pale ale from Gordon’s. The Ultra-low Alcohol Gin & Tonic Flavoured Drinks contain 0.5% ABV and only 68 calories, compared to 219 calories in a normal gin and tonic.
- As of April 2019, Smirnoff released a new fruit-infused vodka line called Smirnoff Infusions, which includes orange, grapefruit, bitters, raspberries, and rhubarbs.
About Food & Beverage Division at Future Market Insights
The food & beverage team at Future Market Insights provides all the necessary insights and consulting analysis to fulfill clients’ unique business intelligence needs worldwide. With a catalog of more than 500 reports about the latest statistics and analyses from the food & beverage industry, the team is happy to help with every business intelligence research and consulting requirement.
Liqueurs Market Segmentation by Category
By Type:
- Neutrals/Bitters
- Creams
- Fruit Flavored
- Others
By Packaging:
- Glass
- PET Bottle
- Metal Can
- Others
By Distribution Channel:
- Convenience Stores
- On-premises
- Retailers
- Supermarkets
By Region:
- North America
- Latin America
- Europe
- The Middle East and Africa (MEA)
- East Asia
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
