The global liqueurs market size was valued at $118,040.5 million in 2021, and is projected to reach $166,966.8 million by 2031, registering a CAGR of 3.4% from 2022to 2031. Over the past few years, more number of young people has engaged in self-employment and has moved out of the houses to work. With own earned money, young population has leaned toward spending the income on food & beverages. Moreover, as millennial tend to try new drinks always and explore various countries, their demand for local liqueurs of small countries has also increased. In addition, with number of millennial involved in tourism and are interested in traveling, prefer to taste variety of liqueurs, which result in increased demand for liqueurs. Such factors are expected to boost the market for liqueurs during the forecast period.
Asia-Pacific has a wide range of liqueurs available in the market with, each one having its own characteristic tastes and flavors. The market has witnessed a significant growth due to increase in demand from countries, such as India and China. A considerable rise in the consumption of liqueurs has been observed in India owing to its growing youth population with preference for liqueurs. Changed lifestyles and consumer preferences have considerably boosted the adoption of liqueurs in Asia-Pacific. Furthermore, a significant rise in the number of working class individuals and increase in disposable incomes of the people in this region have favoured the adoption of premium and high-quality liqueurs. However, heavy taxation, increased health consciousness, and availability of substitute drinks are the key factors that hinder the growth of the market. Different types of liqueursincluding premium, mainstream, and economy contribute to the growth of the liqueurs industry worldwide.
The liqueurs industry has been segmented on the basis oftype, packaging, distribution channel, and region. Based on type, the market is dividedinto neutrals/bitters, creams, fruit flavored, and others. On the basis of packaging, the liqueurs market is divided into glass, PET bottle, metal can, and others.Based on distribution channel, the market is divided into convenience stores, on-premises, retailers, and supermarkets.Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Major companies have adopted agreement, product launch, expansion, and merger strategies to sustain the intense market competition. Key players profiled in the report include Bacardi Limited, Beam Suntory Inc., Brown-Forman Corporation, Diageo Plc, Davide Campari-Milano S.p.A., GirolamoLuxardoS.p.A, Lucas Bols B.V., Mast-Jägermeister SE, PernodRicard SA, and Remy Cointreau.
Other market players (not profiled in report) in the value chain include DeKuyper Royal Distillers, E. & J. Gallo Winery, Peel Liqueur, Sazerac Company, Stock Spirits Group, The Drambuie Liqueur, Terra Ltd., and CL World Brands Limited.
Asia-Pacific has a wide range of liqueurs available in the market with, each one having its own characteristic tastes and flavors. The market has witnessed a significant growth due to increase in demand from countries, such as India and China. A considerable rise in the consumption of liqueurs has been observed in India owing to its growing youth population with preference for liqueurs. Changed lifestyles and consumer preferences have considerably boosted the adoption of liqueurs in Asia-Pacific. Furthermore, a significant rise in the number of working class individuals and increase in disposable incomes of the people in this region have favoured the adoption of premium and high-quality liqueurs. However, heavy taxation, increased health consciousness, and availability of substitute drinks are the key factors that hinder the growth of the market. Different types of liqueursincluding premium, mainstream, and economy contribute to the growth of the liqueurs industry worldwide.
The liqueurs industry has been segmented on the basis oftype, packaging, distribution channel, and region. Based on type, the market is dividedinto neutrals/bitters, creams, fruit flavored, and others. On the basis of packaging, the liqueurs market is divided into glass, PET bottle, metal can, and others.Based on distribution channel, the market is divided into convenience stores, on-premises, retailers, and supermarkets.Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Major companies have adopted agreement, product launch, expansion, and merger strategies to sustain the intense market competition. Key players profiled in the report include Bacardi Limited, Beam Suntory Inc., Brown-Forman Corporation, Diageo Plc, Davide Campari-Milano S.p.A., GirolamoLuxardoS.p.A, Lucas Bols B.V., Mast-Jägermeister SE, PernodRicard SA, and Remy Cointreau.
Other market players (not profiled in report) in the value chain include DeKuyper Royal Distillers, E. & J. Gallo Winery, Peel Liqueur, Sazerac Company, Stock Spirits Group, The Drambuie Liqueur, Terra Ltd., and CL World Brands Limited.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the liqueurs market analysis from 2021 to 2031 to identify the prevailing market opportunities
- The market research is offered along with information related to key drivers, restraints, and liqueurs market opportunities
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier–buyer network
- In-depth analysis of the liqueurs market segmentation assists to determine the prevailing market opportunities
- Major countries in each region are mapped according to their revenue contribution to the global market industry
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players
- The report includes the analysis of the regional as well as global liqueurs market trends, key players, market segments, application areas, and liqueurs market growth strategies
KEY MARKET SEGMENTS
By Type
- Neutrals/Bitters
- Creams
- Fruit Flavored
- Others
By Packaging
- Glass
- PET Bottle
- Metal Can
- Others
By Distribution Channel
- Convenience Stores
- On Premises
- Retailers
- Supermarkets
By Region
- North America
- US
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Russia
- Brazil
- South Africa
- Rest of LAMEA
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Landscape
Chapter 4: Liqueurs Market, by Type
Chapter 5: Liqueurs Market, by Packaging
Chapter 6: Liqueurs Market, by Distribution Channel
Chapter 7: Liqueurs Market, by Region
Chapter 8: Company Profiles
List of Tables
List of Figures
Executive Summary
According to a new report titled, “Liqueurs Market by Type, Packaging, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2022–2031,” the global liqueurs market size was valued at $118,040.5 million in 2021, and is projected to reach $166,966.8 million by 2031, registering a CAGR of 3.4% from 2022 to 2031.Most of the countries in the world have witnessed rapid urbanization and improvement in their financial conditions. This has led to an overall rise in the disposable income of the people. In addition, this has made way for shift in consumer preferences, especially among young, aspirational drinkers in the developed economies, such as Europe and North America, toward different and modern liqueurs from the traditional liqueurs. Moreover, liqueur is a widely consumed, produced, and traded alcohol across the globe owing to which youth population is attracted toward it. In addition, the population has gradually inclined toward sophisticated, moderated, and premium beverages, owing to continuous innovation in taste, flavors, packaging, and others. Furthermore, increased tread to consume liqueurs in parties has further boosted the growth of the global liqueurs market.Emerging nations are expected to provide major opportunities for the liqueurs market during the forecast period. The rise in acceptance of liqueurs consumption and surge in popularity of liqueurs for special occasions are expected to stimulate the market growth in several nations such as China, Canada, and Germany. Moreover, rise in social media has become the latest liqueurs market trend in developed countries as it is the lifestyle of millennials due to which Gen Z spends more on premium products, which is likely to open new avenues for the market participants to enter emerging markets.
Moreover, due to the outbreak of the COVID-19 pandemic, manufacturers have increased social media advertisement of liqueurs products to reach a large consumer base. However, implementation of lockdown and curfew practices globally has affected the domestic as well as international production of liqueurs products, which in turn, hampers the growth of the overall market. Thus, the outbreak of COVID-19 negatively impacted the liqueurs market in 2020, as sales of companies reduced and operations were halted.
Key Findings Of The Study
- By type, the neutrals/bitters segment dominated the global market in 2021, and is expected to retain its dominance throughout the liqueurs market forecast period
- By packaging, the liqueursindustry is divided into glass, PET bottle, metal can, and others.Glass segment lead in terms of market share and is expected to continue to grow with robust CAGR during the forecast period Consumer’s primary choice for reliable, healthy, sustainable, and premium liqueurs beverage is expected to continue to keep glass bottle packing in strong demand
- On the basis of distribution channel, the liqueurs market is categorized into convenience stores, on premises, retailers, and supermarkets The retailers segment held the major share in the market, and is projected to remain dominant during the forecast period
- By region, Asia-Pacific accounted for highest market share in 2021, and is expected to grow at a significant CAGR during the forecast period. A considerable increase in the consumption of liqueurs has been observed in India due to its growth in youth population with preference for beer Change in lifestyles and consumer preferences have considerably boosted the adoption of liqueurs in Asia-Pacific
- Major companies have adopted agreement, product launch, expansion, and merger strategies to sustain the intense market competition. Key players profiled in the report include Bacardi Limited, Beam Suntory Inc., Brown-Forman Corporation, Diageo Plc, Davide Campari-Milano S.p.A., GirolamoLuxardoS.p.A, Lucas Bols B.V, Mast-Jägermeister SE, PernodRicard SA, and Remy Cointreau
Other market players (not profiled in report) in the value chain include DeKuyper Royal Distillers, E. & J. Gallo Winery, Peel Liqueur, Sazerac Company, Stock Spirits Group, The Drambuie Liqueur, Terra Ltd., and CL World Brands Limited
Companies Mentioned
- DeKuyper Royal Distillers
- E. & J. Gallo Winery
- Peel Liqueur
- Sazerac Company
- Stock Spirits Group
- The Drambuie Liqueur
- Terra Ltd.
- CL World Brands Limited
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 250 |
| Published | February 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 118040.5 million |
| Forecasted Market Value ( USD | $ 166966.8 million |
| Compound Annual Growth Rate | 3.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 8 |
