The latest report by IMARC Group, titled “Liqueurs Market : Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“. The global liqueurs market size reached US$ 123.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 151.6 Billion by 2028, exhibiting a growth rate (CAGR) of 3.70% during 2023-2028.
Liqueurs are alcoholic spirits, typically sweetened and flavored with various fruits, herbs, or spices that offer a wide array of tastes and aromas. They are known for their versatility, serving as key ingredients in cocktails or as delightful sippers. As a result, these delightful concoctions have gained considerable prominence in the global market, captivating consumers with their diverse range of flavors and versatility in cocktails and culinary applications. Besides, liqueurs have become an integral part of the beverage industry, appealing to a broad consumer base seeking both traditional and innovative taste experiences.
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Liqueurs Market Trends and Drivers:
The global liqueurs market is driven by the rising demand for craft and artisanal liqueurs. Discerning consumers seek unique and high-quality offerings, leading to a surge in small-batch, handcrafted liqueurs. This trend aligns with consumers’ quest for authenticity and distinct flavor profiles, presenting opportunities for niche producers to thrive. Furthermore, the market is adapting to environmental concerns and evolving regulations. An increasing emphasis on sustainability has prompted the development of eco-friendly liqueurs with reduced environmental impact. This shift resonates with environmentally conscious consumers and aligns with corporate responsibility initiatives. Additionally, the convenience factor plays a pivotal role in market dynamics. Ready-to-drink (RTD) liqueurs and innovative packaging are gaining traction, appealing to on-the-go consumers seeking premium experiences. Furthermore, the health-conscious consumer demographic is influencing the liqueurs market. Manufacturers are responding to this demand by introducing healthier and lower-calorie liqueur options, catering to those who wish to enjoy the indulgence of liqueurs without compromising on their dietary choices.
Report Segmentation:
The report has segmented the market into the following categories:
Type Insights:
- Neutrals/Bitters
- Creams
- Fruit Flavored
- Others
Packaging Type Insights:
- Glass
- PET Bottle
- Metal Can
- Others
Distribution Channel Insights:
- On-Trade
- Off-Trade
- Hypermarkets and Supermarkets
- Grocery Stores
- Convenience Stores
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- Amarula Cream
- Beam Suntory Inc.
- Brown-Forman Corporation
- Davide Campari-Milano N.V
- Diageo Plc, Girolamo Luxardo S.p.A
- Koninklijke De Kuyper B.V.
- Lucas Bols B.V.
- Mast-Jägermeister SE
- Pernod Ricard SA
- Remy Cointreau
- Sazerac Company
- Stock Spirits Group
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