The ‘Global Liqueur Market Size, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global liqueur market, assessing the market on the basis of its segments like type, packaging, distribution channel, and region.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Liqueur Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 137.33 billion
- Forecast CAGR (2023-2028): 4.10%
- Forecast Market Size (2028): USD 175.94 billion
It is anticipated that changing lifestyles and the increasing popularity of alcoholic beverages in developing nations will likely support the global liqueur market expansion. The rapid growth in popularity of healthy liqueur drinks is partly attributable to increasing preference for natural-based mixers. The demand for alcoholic beverages made from natural sources is on the rise, and to meet this demand, mixers come in a broad variety of flavours and preparations.
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Natural spirits have been released by producers in response to the growing interest. In the upcoming years, it is anticipated that the return of traditional liqueurs created with whisky and rum will present profitable opportunities for the liqueur market share. There is an increased desire for vintage cocktails that have flavouring liquor added, which are readily available in pubs and bars.
Due to the rising popularity of flavoured liqueurs like orange, the fruit-flavoured category, based on type, accounts for a large share of the market for liqueurs. These liqueurs are also utilised in drinks that contain tequila. The demand for creative fruit-based liqueurs with flavours like plums, cherries, melons, apples, and pears, among others, is also helping to drive the segment’s expansion.
Liqueur Industry Definition and Major Segments
Liqueur is an alcohol that has been sweetened and created with various flavours and extracts, which typically has whisky as its base. Although it can also be neutral, bitter, and fruit-flavoured, liqueur is often sweet and smooth. Liqueur is frequently consumed directly due to its potent flavour profile rather than being mixed or added to a cocktail.
On the basis of type, the market is divided into:
- Neutrals/Bitters
- Creams
- Fruit Flavoured
- Others
Based on distribution channel, the market is segmented into:
- Glass
- PET Bottle
- Metal Can
- Others
On the basis of distribution channel, the market is divided into:
- Convenience Stores
- On-Premises
- Retailers
- Supermarkets
Based on region, the market is categorised into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Liqueur Market Trends
Major trends influencing the growth of the global liqueur market include increased premium liqueur demand, particularly in developing nations, and rising social acceptance of alcohol consumption in some cultures. The global market for liqueur is anticipated to grow over the course of the forecast period due to a number of additional factors, including rising disposable income and an increase in consumer desire for drinks with reduced alcohol content.
The launch of various liqueur blends by manufacturers is also anticipated to fuel the expansion of the global market for liqueur in the coming years. In addition, the desire for low-alcohol content beverages among adults and the emergence of new lifestyle trends are expected to propel the expansion of the global liqueur market.
Over the forecast period, participants in the global market for liqueur are expected to benefit from innovative packaging, which is aiding in attracting consumers. The market is also expanding as liqueurs are increasingly being used in bread, confectionery, and dessert items. During the projection period, there will likely be an increased demand for liqueur used in recipes for truffles, chocolates, and other confections. Another significant element influencing the price of liqueurs is the expanding youth appeal of popular liqueur brands.
Key Market Players
The major players in the global liqueur market report are Brown-Forman Corporation, Bacardi Limited, Terra Ltd., Beam Suntory Inc., Diageo Plc, William Grant & Sons Limited, Davide Campari-Milano S.p.A., Girolamo Luxardo S.p.A., Lucas Bols B.V., and Pernord Ricard S.A., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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