With a growing population of young adults and higher levels of disposable income, the appetite for premium liqueurs is on the rise. This has created an increasingly lucrative market, one with plenty of opportunity for growth in the years ahead.

NEWARK, Del, Jan. 19, 2023 (GLOBE NEWSWIRE) -- The global liqueur market size is estimated to reach 130.23 billion in 2023 and is projected to reach a revised size of US$ 181.93 billion by 2033. The market is expected to register a CAGR of 3.4% over the forecast period.

Due to its unique taste and availability in different flavors, the liqueur is becoming popular as an after-dinner digestive, appetizer, and cocktail ingredient. The liqueur market is also experiencing an increase in demand for different types of liqueurs due to the market's growing popularity.

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During the forecast period, liqueurs are likely to be used in baked goods, confectionery, and desserts, resulting in increased consumption of these products. Liqueurs are also likely to be used in chocolate, truffles, and other recipes, contributing to market growth. The increasing popularity of liqueur types among the youth, such as Grand Marnier, Amaretto, Sambuca, Cointreau, Bailey's Irish Cream, and Kahlua, liqueur prices are also driven by this factor.

"The liqueur is also becoming popular as an after-dinner digestive, appetizer, and cocktail ingredient due to its unique taste. The liqueur market is also experiencing an increasing demand for different types of liqueurs" says a lead analyst at Future Market Insights.

Key Takeaways from Market Study

• The liqueur market is expected to record a CAGR of 3.4% over the forecast period.
• According to estimates, the liqueur market in North America will remain strong throughout the forecast period.
• In 2023, the United States held a 78% share of the liqueur market, and the demand for liqueurs is expected to remain strong in North America.
• With a 50% share of the market in Asia Pacific, the liqueur market in China is anticipated to increase by 3.5% in the next few years.

Competitive Landscape:

Several prominent companies dominate this market, including Bacardi Limited, Beam Suntory Inc., Brown-Forman Corporation, Diageo Plc, Davide Campari-Milano S.p.A., GirolamoLuxardo S.p.A, Lucas Bols B.V., Mast-Jägermeister SE, Pernod Ricard SA, Remy Cointreau, DeKuyper Royal Distillers, E. & J. Gallo Winery, Peel Liqueur, Sazerac Company, Stock Spirits Group.

Key manufacturers employ a variety of strategies to compete in an increasingly competitive environment, including the launch of updated products, and the approval of mergers and acquisitions, partnerships, and collaborations.

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Recent Developments:

• In June 2019, Shipyard launched Low Tide, launched a pale ale with minimal alcohol content. Based on the name, Low Tide has an alcohol content of only 0.5%. According to the firm, the new launch is an alternative for quality low alcohol.
• Introduced in 2021, a new zero-alcohol pale ale from Gordon's. The Ultra-Low Alcohol Gin & Tonic Flavored Drinks contain 0.5% ABV and only 68 calories, compared to 219 calories in a normal gin and tonic.
• As of April 2019, Smirnoff released a new fruit-infused vodka line called Smirnoff Infusions, which includes orange, grapefruit, bitters, raspberries, and rhubarbs.
  

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Given Below are the Liqueurs 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
• Latin America
• Europe
• The Middle East and Africa
• East Asia
  

Table of Content

1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations

2. Market Overview
2.1. Market Coverage/Taxonomy
2.2. Market Definition/Scope/Limitations

3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast

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About Food & Beverage Division at Future Market Insights

The food & beverage team at Future Market Insights provides all the necessary insights and consulting analysis to fulfill clients' unique business intelligence needs worldwide. With a catalog of more than 500 reports about the latest statistics and analyses from the food & beverage industry, the team is happy to help with every business intelligence research and consulting requirement.

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About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

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