In 2023, the US leads North American liqueurs market with a 78% share, expected to sustain strong demand, reinforcing its dominant position.

NEWARK, DELAWARE, UNITED STATES OF AMERICA, December 5, 2023 /EINPresswire.com/ -- The global liqueur market is estimated to reach US$ 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.

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.

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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.

“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 Nandini Roy Choudhury, Client Partner at Future Market Insights, Inc.

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.

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 Flavoured 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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Liqueurs Market Segmentation by Category

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 (MEA)
East Asia

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.

Author By:

Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.

She has exceptional analytical skills and often brings thought leadership to the table.

Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.

Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.

Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.

Explore Future Market Insights, Inc. Extensive Coverage in Food and Beverage Market Domain:

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Future Market Insights, Inc.
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