United States Liqueur Market Outlook
According to a new report by Expert Market Research titled, “United States Liqueur Market Share, Size, Trends, Analysis, Report and Forecast 2024-2032″, US liqueur market is projected to grow at a CAGR of 6.3% between 2024 and 2032. Aided by high alcohol consumption and growing trend of premiumisation in United States, the market is expected to grow significantly by 2032.
Liqueurs are alcoholic beverages made from distilled spirits flavoured with fruit, cream, herbs, spices, flowers, or nuts and typically sweetened. These beverages, which can range from sweet to bittersweet, are consumed in various ways: sipped on their own, mixed into cocktails, or utilised as ingredients in culinary dishes. Liqueurs, with their unique flavours, add depth and complexity to a variety of drinks and desserts.
Burgeoning craft cocktail movement is one of the key United States liqueur market trends driving the market. As mixologists and bartenders strive for innovation, there’s been a significant rise in the use of liqueurs to add novel flavours and nuances to their creations. Cities across the U.S., from New York to Los Angeles, have witnessed a boom in cocktail bars that emphasise artisanal and craft beverages, with liqueurs playing a central role.
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As per the United States liqueur market analysis, the consumer inclination towards premium and super-premium beverages is propelling the market development. As consumers increasingly seek quality over quantity, there has been a notable upswing in the demand for high-quality, artisanal liqueurs. The emphasis on authentic experiences, unique flavours, and high-quality ingredients has reshaped the liqueur landscape in the country.
Additionally, the diversification of liqueur flavours and types has drawn a broader demographic of consumers. From creamy liqueurs like Baileys to herbal ones like Jägermeister, there’s something to cater to a myriad of palates. This wide range ensures that liqueurs find a place in diverse occasions, from casual gatherings to elaborate celebrations.
The rise of home mixology, particularly accentuated by recent stay-at-home orders, has further spurred the United States liqueur market demand. Enthusiasts, now more than ever, are experimenting with different liqueurs to create professional-grade cocktails at home. This DIY cocktail trend has significantly boosted the sales of various liqueurs, as consumers stock their home bars with diverse and exotic options.
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In the broader beverage industry, liqueurs are also gaining traction due to their use in culinary applications. From desserts to savoury dishes, chefs are utilising liqueurs to impart distinct flavours and elevate the gastronomic experience. Continuous innovation in flavours, sustainable production methods, and strategic marketing campaigns can cater to the evolving preferences of consumers. Collaborations with mixologists, presence in experiential events, and the exploration of unique ingredients can pave the way for the United States liqueur market growth.
United States Liqueur Market Segmentation
The market can be divided based on type, packaging, distribution channel, and region.
Market Breakup by Type
- Neutrals/Bitters
- Creams
- Fruit Flavoured
- Others
Market Breakup by Packaging
- Glass
- PET Bottle
- Metal Can
- Others
Market Breakup by Distribution Channel
- Convenience Stores
- On-Premises
- Retailers
- Supermarkets
- Others
Market Breakup by Region
- New England
- Mideast
- Great Lakes
- Plains
- Southeast
- Southwest
- Rocky Mountain
- Far West
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the United States liqueur market. Some of the major players explored in the report by Expert Market Research are as follows:
- Diageo plc
- Pernod Ricard S.A.
- ILLVA SARONNO SPA
- Brown-Forman Corporation
- Bacardi Limited
- Beam Suntory Inc.
- McCormick Distilling Company
- Luxco, Inc.
- Hiram Walker & Sons Ltd.
- Koninklijke de Kuyper B.V
- Others
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