Craft spirits are made in small batches using traditional methods and high-quality ingredients. They are often flavored with citrus fruits, which gives them a unique and refreshing taste. Consumers are increasingly looking for healthy and refreshing alcoholic beverages. Citrus based alcohol is a good option for these consumers as it is made with natural ingredients and has a refreshing citrus flavor. As consumers have more disposable income, they are more likely to spend money on premium alcoholic beverages such as citrus based alcohol. Citrus fruits are a good source of vitamin C, which is an antioxidant that helps protect the body from damage.
Access Full Report @ https://www.databridgemarketresearch.com/reports/global-citrus-based-alcohol-market
Data Bridge Market Research analyses that the Citrus Based Alcohol Market was valued at USD 6,930.12 million in 2021 and is expected to reach the value of USD 9,520.32 million by 2029, at a CAGR of 4.10% during the forecast period of 2022 to 2029. The market is driven by the growing popularity of craft spirits, increasing demand for healthy and refreshing alcoholic beverages, rising disposable income of consumers, and growing awareness of the health benefits of citrus fruits. Consumers are increasingly looking for healthy and natural alternatives to traditional alcoholic beverages. Citrus based alcohol is a good option for these consumers as it is made with natural ingredients and has a refreshing citrus flavor.
Growing popularity of craft beers is expected to drive the market's growth rate
Craft spirits are made in small batches using traditional methods and high-quality ingredients. They are often flavored with citrus fruits, which gives them a unique and refreshing taste. Craft spirits' growing popularity drives the demand for citrus-based alcohol. Consumers are increasingly looking for healthy and refreshing alcoholic beverages. Citrus based alcohol is a good option for these consumers as it is made with natural ingredients and has a refreshing citrus flavor.
Report Scope and Market Segmentation
|
Report Metric
|
Details
|
|
Forecast Period
|
2022 to 2029
|
|
Base Year
|
2021
|
|
Historic Years
|
2020 (Customizable to 2014- 2019)
|
|
Quantitative Units
|
Revenue in USD Million, Volumes in Units, Pricing in USD
|
|
Segments Covered
|
Product Type (Spirits, Wine, and Beer), Citrus Fruit (Lemon, Lime, Orange, Grapefruit, Tangerine, and Others), Packaging (Glass Bottles, Cans, and Plastic Bottles), Distribution Channel (Specialty Stores, Hotel/Restaurants/Bars, Convenience Stores, Online Retailers, and Others)
|
|
Countries Covered
|
U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA)
|
|
Market Players Covered
|
Anheuser-Busch InBev (Belgium), Constellation Brands, Inc. (U.S.), Heineken N.V. (Netherlands), The Coca-Cola Company (U.S.), ASAHI GROUP HOLDINGS, LTD. (Japan), The BOSTON BEER COMPANY (U.S.), Diageo (U.K.)
|
|
Data Points Covered in the Report
|
In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand
|
Segment Analysis:
The global citrus based alcohol market is segmented into four notable segments based on product type, citrus fruits, packaging and distribution channel.
- On the basis of product type, the global citrus based alcohol market is segmented into spirits, wine, and beer. Spirits segment is expected to dominate the global citrus based alcohol market with a 58.99% market share because of the growing consumer preference for citrus based alcohol in the region.
- On the basis of citrus fruits, the global citrus based alcohol market is segmented into lemon, lime, orange, grapefruit, tangerine, and others. Lemon segment is expected to dominate the global citrus based alcohol market with a 27.90% market share because of its dominant flavor, and it is extremely versatile, mixing well with everything from whisky to vodka.
- On the basis of packaging, the global citrus based alcohol market is segmented into glass bottles, cans, and plastic bottles. Glass bottles segment is expected to dominate the global citrus based alcohol market with a 68.33% market share because they provide appropriate protection and barrier properties. These are hard and do not affect the quality of the product.
The glass bottles segment will dominate the packaging segment of the citrus based alcohol market
The glass bottles segment will emerge as the dominating segment packaging segment. This is because of the growing number of food & beverages processing industries in the market especially in the developing economies. Further, growth and expansion of research development services on a global scale will further bolster the growth of this segment.
- On the basis of distribution channel, the global citrus based alcohol market is segmented into specialty stores, hotel/restaurants/bars, convenience stores, online retailers, and others. Specialty stores segment is expected to dominate the global citrus based alcohol market with a 57.70% market share based alcohol market because of low cheap products, self-service combined with the large buying power in the region.
The specialty stores segment will dominate the distribution channel segment of the citrus based alcohol market
The specialty stores segment will emerge as the dominating segment under distribution channel. This is because of the growing number of infrastructural development activities in the market, especially in the developing economies. Further, growth and expansion of the food and beverages industry all around the globe will further bolster the growth of this segment.
Major Players
Data Bridge Market Research recognizes the following companies as the major market players: Anheuser-Busch InBev (Belgium), Constellation Brands, Inc. (U.S.), Heineken N.V. (Netherlands), The Coca-Cola Company (U.S.), ASAHI GROUP HOLDINGS, LTD. (Japan), The BOSTON BEER COMPANY (U.S.), Diageo (U.K.).
Market Development
- In 2021, SunDaze, a citrus ready-to-drink canned cocktail company, announced its launch in Southern California in October. The company's products are available at PinkDot and Total Wine locations across Los Angeles County and nationwide (where legal) via direct-to-consumer shipping online. SunDaze's launch is a significant milestone for the company and will likely accelerate its growth. The launch of SunDaze comes at a time when there is a growing demand for ready-to-drink cocktails. Consumers are increasingly looking for convenient and portable alcoholic beverages that they can enjoy at home or on the go. SunDaze's citrus flavors are also well-suited to the summer season, which is a peak time for alcoholic beverage consumption.
- In 2022, UK-based Shakespeare Distillery launched a Citrus Vodka as part of its limited-edition Distillery Special range. The Citrus Vodka is made with fresh oranges and lemons that are hand-peeled at the distillery. It has a strong citrus flavor and is 40% ABV. The Citrus Vodka is available for purchase online and at select retailers in the U.K. The launch of the Citrus Vodka is a way for Shakespeare Distillery to tap into the growing demand for citrus-flavored spirits. Citrus flavors are prevalent in cocktails and other drinks and are often associated with summer and fun. The citrus vodka is a unique and flavorful spirit that will appeal to consumers looking for something new to try.
Regional Analysis
Geographically, the countries covered in the market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
As per Data Bridge Market Research analysis:
North America is the dominant region in the citrus based alcohol market during the forecast period 2022-2029
North America is expected to dominate the global citrus based alcohol market in the forecast period. The region is expected to be the largest market for citrus based alcohol due to large population of young adults who are more likely to consume alcoholic beverages. The disposable income of consumers in North America is rising. This is due to the fact that the region has a strong economy and a high standard of living. As consumers have more disposable income, they are more likely to spend money on premium alcoholic beverages such as citrus based alcohol.
Asia-Pacific is estimated to be the fastest growing region in the citrus based alcohol market in the forecast period 2022-2029
Asia-Pacific is expected to be the fastest-growing region for citrus based alcohol in the forecast period. Consumers in Asia-Pacific are becoming more aware of the health benefits of citrus fruits. This is leading to an increase in the demand for citrus based alcohol in the region.
For more detailed information about the citrus based alcohol market report, click here – https://www.databridgemarketresearch.com/reports/global-citrus-based-alcohol-market
