Liqueur Market is projected to grow at a CAGR of 3.4% over the forecast period. Liqueurs are any alcoholic beverage having liquor at its base followed by sweetener and flavor added to it. Sweeteners and flavors are the key characteristics of a liqueur which differentiates it from liquor. Liqueurs are usually lower in alcohol content than liquors. Moreover, liqueurs are gaining popularity as a common ingredient in cocktails owing to their ability to serve an amazing depth of color and complexity to a cocktail.
Asia Pacific is the fastest growing liqueur market over the forecast period 2017-2023. Growth in disposable income and large alcohol consuming demographic are the driving factors for growth of liqueur market in this region. Moreover, increasing urbanization and escalating demand for premium products is boosting the growth of liqueur market.
Changing lifestyle and inclination of consumers towards entertainment in clubs and lounges in developing countries like China, India and Japan is adding fuel to the market growth of liqueur. However, increasing awareness of health issues and inclination of the population towards healthy beverages may hamper the liqueur market in future. Nevertheless, all these factors will lead to the growth of Asia Pacific market at a CAGR of 3.4% during the forecast period 2017-2023.
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Major Key Players:
This report includes a study of strategies such as mergers, acquisitions, and product launches by the major liqueur players. It further includes product portfolios, developments of leading players, which includes
- Bacardi Limited (Bermuda)
- Amarula (SA)
- Remy Cointreau (France)
- De Kuyper Royal Distillers (Netherlands)
- Diageo (U.K.)
- (Tia Lusso)- Pernod Ricard (France)
- Beam Suntory, Inc. (U.S.)
The Liqueur Market is segmented on the basis of flavor, packaging, distribution channel, and region.
- The fruit liqueur manufacturers are inclining towards organic fruit as a source of raw material.
- Increasing sales of liqueur with alcohol content ranging between 15- 20% will boost the European liqueur market
Liqueur market is segmented on the basis of flavor such as chocolate, coffee, cream, fruit, nuts and others. Among all, fruit liqueur is dominating the market compared to other flavors. Fruit liqueur has the ability to serve the changing consumer preference with its different fruit types. Cream liqueur is also observed to achieve a moderate growth in the forecast period.
Based on the packaging, liqueur is segmented as glass bottles, plastic bottles, metal cans and others. However, among all, glass bottle is witnessing high growth in the market due to its premium image among the consumers.
On the basis of distribution channel, liqueur market is segmented as on-trade and off-trade distribution channel. Among these, on-trade distribution channel is observing growth against off-trade distribution channel in liqueur market due to increasing innovations with liqueurs at on-trade distribution channel.
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The Global Liqueur Market is segmented under the following regions,
- Rest of Europe
- Rest of Asia Pacific
Rest of the world
- South Africa
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