Liqueurs Market Overview:
Liqueurs Market was valued at $111 billion in 2016, and is expected to reach $131 billion by 2023, registering a CAGR of 2.5% from 2017 to 2023. For thousands of years, most people across the globe have traditionally consumed alcohol in some form or the other. Before sugar reached Europe, elixirs (or liqueurs) made from complex blends of herbs and secret ingredients were produced to treat people, popularly in the universities and monasteries of Salerno and Bologna (Italy) and Leiden (the Netherlands). The price of these beverages is largely determined by the cost of production and the duties levied on those costs.
Increase in global young-adult demographic, coupled with high disposable income and consumer demand for premium/super premium products drive the market. However, lack of penetration in emerging countries, and growth of sport drink market, owing to health concerns, is expected to restrict the market growth in future. Mergers are expected to remain as the key strategy, as players seek to widen their brand portfolios and expand their market reach.
The report segments the global liqueurs market based on type, distribution channel, packaging, and geography. By type, the market is classified into neutrals/bitters, creams, fruit flavored, and others. Based on distribution channel, the market is divided into convenience stores, on premises, retailers, and supermarkets. On the basis of packaging the liqueurs market is divided into glass, PET bottle, metal can, and others. By geography, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Top Investment Pockets, by Type
In 2015, creams segment accounted for around one-third of the global liqueurs market share. In terms of volume, these types held approximately 27% share in the overall market. Creams segment is the top investment pocket in the liqueurs market, attributed to boom in premium/super premium liqueur consumption and the demand shift from neutrals/bitters. Thus, this segment is anticipated to provide high stability along with significant return on investment for the stakeholders, owing to its high growth rate and significant revenue contribution.
Global Liqueurs Market Analysis
Consumption of liqueurs in Asia-Pacific is expected to increase due to the growth in young-adult population, and increase in consumption of high-quality liqueurs. Emerging markets such as China and India, are expected to witness the highest increase in demand for liqueurs during the forecast period in Asia-Pacific. This can be primarily attributed to the substantial growth in disposable income in this region. However, Europe is expected to be the fastest growing region, closely followed by LAMEA owing to the increase in liqueur drinking demographic and innovative promotion campaigns from key players.
South Africa Liqueurs Market, 2016-2023 ($Million)
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., Girolamo Luxardo S.p.A, Lucas Bols B.V., Mast-Jägermeister SE, Pernod Ricard 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.
- This report provides an extensive analysis of the current trends and emerging estimations and dynamics in the liqueurs market.
- In-depth analysis of the market size is conducted, and estimations for key segments between 2016 and 2023 are provided.
- Competitive intelligence (of leading manufacturers and distributors) facilitates to understand the competitive scenario across the geographies.
- Factors that drive and restrain the growth of the market are provided in the report.
- Industry analysis is conducted by following key product positioning and monitoring the top competitors within the market framework.
- Key market players are profiled and their strategies are analyzed thoroughly, which provides a competitive outlook of the industry trends.
Liqueurs Market Key Segments:
- Fruit Flavored
By Distribution Channel
- Convenience Stores
- On Premises
- PET Bottle
- Metal Can
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South Africa
- Rest of LAMEA