Global Liqueurs Market, By Type (Neutrals/Bitters, Creams, Fruit Flavored, and Others), Packaging (Glass, PET Bottle, Metal Can, and Others), and Distribution Channel (Convenience Stores, On-Premises, Retailers, and Supermarkets) - Industry Trends and Forecast to 2031.
Liqueurs Market Analysis and Size
The global liqueurs market has witnessed significant growth due to a rise in the global young adult demographic coupled with high disposable income. Moreover, the introduction of healthier varieties of beer and spirits provides a huge market opportunity for the key players operating in the market. However, issues related to health concerns are projected to hamper the overall market growth.
Data Bridge Market Research analyzes that the global liqueurs market was valued at USD 116,077.80 million in 2023 and is expected to reach a value of USD 147,683.40 million by 2031, growing at a CAGR of 3.1% during the forecast period of 2024 to 2031.
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.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Neutrals/Bitters, Creams, Fruit Flavored, and Others), Packaging (Glass, PET Bottle, Metal Can, and Others), Distribution Channel (Convenience Stores, On-premises, Retailers, and Supermarkets)
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Countries Covered
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U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, U.A.E., Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa
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Market Players Covered
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Bacardi (Bermuda), Beam Suntory (U.S.), Diageo (U.K.), Lucas Bols (Netherlands), Pernod Ricard (France), Rémy Cointreau (France), Brown-Forman (U.S.), Gruppo Campari (Italy), E. & J. Gallo Winery (U.S.), Luxardo (Italy), The Drambuie Liqueur (U.K.), Stock Spirits Group (Poland)
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Market Opportunities
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Market Definition
Liqueurs are alcoholic beverages characterized by the infusion or blending of distilled spirits with various flavorings such as fruits, herbs, spices, or other botanicals. Known for their sweet and often complex taste profiles, liqueurs typically have a lower alcohol content compared to straight spirits. These beverages are prized for their versatility, making them popular ingredients in cocktails and mixed drinks. Liqueurs contribute diverse and unique flavors to the world of spirits, offering consumers a wide range of choices for sipping, mixing, or incorporating into culinary creations.
Global Liqueurs Market Dynamics
Driver
- Rising Tourism Leads to Higher Alcohol Consumption
The rising tourism has significantly affected alcohol consumption across various countries. Tourism can contribute to increased alcohol consumption because many tourists see drinking alcohol as a way to unwind and have fun. Furthermore, some tourist destinations may have a party culture or a focus on nightlife, which can further encourage drinking among end users. There has been a significant upsurge in tourism in various countries, increasing alcohol consumption.
Hence, the increasing tourism across the countries is attracting tourists to try new cuisines, including cocktails and other spirits, which is driving the market growth.
Opportunity
- Increasing Innovation in Products and Packaging
The increasing demand for spirit among various countries has enabled manufacturers to launch new and innovative products per consumer preferences to generate more revenues. Moreover, the companies are focusing on new packaging and bottle designs to lure a wide range of consumers towards them. The companies are launching flavored liqueurs, including various fruits and other flavors. The ready-to-drink spirits and cocktails are also available on the websites per the end user's tastes and preferences.
Therefore, the companies launching new and innovative products and packaging designs are attracting many consumers, which is expected to create an opportunity for market growth.
Restraint
- High Taxes and Tariffs on Spirits
High taxation can significantly affect the spirit industry and potentially restrain market growth. High taxation raises the cost of producing and distributing liqueurs, potentially leading to higher consumer prices. Higher prices may result in spirits being less appealing to consumers, especially if there are less expensive alcoholic beverages available.
High taxes can make it difficult for small producers to compete with larger ones and influence consumer demand. This is because larger producers have more resources and economies of scale to absorb the cost of taxes, whereas smaller producers may struggle to remain profitable. The countries have applied higher taxation to spirits and alcoholic beverages, which may hamper the market growth. Hence, the high taxation and tariffs on the spirit industry in various countries may hamper market growth.
The global liqueurs market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyzes opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the liqueurs market contact Data Bridge Market Research for an Analyst Brief, our team will help you make an informed market decision to achieve market growth.
Recent Developments
- In August 2021, Boston Beer and PepsiCo collaborated to produce an alcoholic Mountain Dew. Boston Beer invented and manufactured Hard Mountain Dew, while Pepsi established a new corporation to sell, deliver, and market the beverage
- In June 2022, Asahi Group Holdings, Ltd. stated that the Shibuya Smart Drinking Project would be launched through a joint venture company, Asahi Breweries, Ltd., which handles the Group's alcohol beverages business in Japan. Asahi Breweries has been promoting "Smart Drinking," which encourages drinking diversity. They hope to solve social concerns and assist develop a society that values drinking diversity by working more closely with diverse external partners, such as corporations and municipal governments
Global Liqueurs Market Scope
The global liqueurs market is segmented into three notable segments based on type, packaging, and distribution channel. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Neutrals/Bitters
- Creams
- Fruit Flavored
- Others
Packaging
- Glass
- PET Bottle
- Metal Can
- Others
Distribution Channel
- Convenience Stores
- On-premises
- Retailers
- Supermarkets
Global Liqueurs Market Regional Analysis/Insights
The global liqueurs market is analyzed and market size insights and trends are provided by type, packaging, and distribution channel as referenced above.
The countries covered in this market report are U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Brazil, Argentina, rest of South America, U.A.E., Saudi Arabia, Oman, Qatar, Kuwait, South Africa, and rest of Middle East and Africa.
North America is expected to dominate the market due to the rising consumption of alcohol in the region.
Asia-Pacific is expected to be the fastest-growing region due to the presence of the population including Gen Zs and millennials and also due to the increasing disposable income of the middle-aged group which help capture the market in the near future.
The country section of the report also provides individual market-impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as downstream and upstream value chain analysis, technical trends, Porter's five forces analysis, and case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, and the impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Liqueurs Market Share Analysis
The global liqueurs market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the market.
Some of the major market players operating in the global liqueurs market are:
- Bacardi (Bermuda)
- Beam Suntory (U.S.)
- Diageo (U.K.)
- Lucas Bols (Netherlands)
- Pernod Ricard (France)
- Rémy Cointreau (France)
- Brown-Forman (U.S.)
- Gruppo Campari (Italy)
- E. & J. Gallo Winery (U.S.)
- Luxardo (Italy)
- The Drambuie Liqueur (U.K.)
- Stock Spirits Group (Poland)
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