Liqueur Market

The Liqueur market is expected to grow at a CAGR of 3.19% to reach $166.2 billion in 2030.

Rise in the young, adult population connected to the large disposable income boost the liqueurs market. Although, growth in the sports drink market and scarcity of penetration in the developing regions because of health concerns is anticipated to hamper the growth of global liqueurs market in the coming years. Introducing the various varieties of spirits and beer is estimated to provide profitable opportunities for the manufacturers.

Increasing disposable income and rising urbanization is playing the major role in the global liqueur market growth. In addition, liqueur market focuses on the innovative packaging and advertisements that is motivating the growth of liqueur industry. On the other hand increase in the preference of customers for health beverages are hampering the global liqueur market in the coming future.

Growth in the sedentary lifestyle, demand for liqueur products and rising spending capacity are the factors that are driving the liqueur market growth globally. Main driver responsible for the growth of global liqueur market is increase in the popularity of luxury liqueurs. Baileys launched Baileys XC, good-quality liqueur with premium constituents and quality packaging are combining fine spirit, cognac and cream. Baileys XC is a premium liqueur available through various tax-free channels. These product contains the hologram effect and are offered in the blue and gold bottle to fascinate the customers. In the same way, Bacardi Brown-Forman announced their campaign Just Add Chambord in year 2016. Chambord is a finest French black raspberry liqueur from the company and brand concentrates on making the increasing trend of fine quality of wines by announcing the Chambord cocktail. Growth in the disposable income of population amongst the world will substantially surge the demand for liqueurs over the forecast period, will fuel the growth of global liqueurs market.

Manufacturers are concentrating on announcing the new products with various new taste to increase the competition amongst other players. Increase in the competition in the liqueur market is leading towards reducing the prices of product that will hamper the revenue margins of the dealers. With the increase in the growth in the market are mainly reliant on shifting the demands and preferences of customer, where dealers are investing in the campaigns of marketing that will help in fascinating the customer and boost the global liqueur market size.

Increase in the popularity of alcoholic beverages are fueling the demand in herbal based liqueurs amongst the female conscious about their health. Large demand for the new products in the specialty spirits and liqueurs market. Producers are continuously revolutionizing in the field of specialty spirits and liqueurs to improve the significant brand equity and product differentiation in this competitive liqueurs market.

Global liqueurs market is segmented into packaging, distribution channel, type and region. On the basis of packaging, market is divided into metal can, PET bottle, glass and more. Based on distribution channel, market is divided into supermarkets, retailers, on-premises and convenience stores. On considering the type, market is divided into fruit flavored, creams, bitters/ neutrals and more.

Geographically, regions involved in the global liqueurs market analysis are Europe, North America, Asia Pacific and LAMEA. Asia Pacific is anticipated to escalate because of increase in young-adult individuals and rise in the usage of fine-quality liqueurs. Europe is estimated to be the rapidly growing region due to the rise in the population of liqueur drinking and inventive campaigns of promotion from various manufacturers. North America holds the largest global liqueur market share.

Key players involved in increasing the liqueur market share are Beam Suntory, Girolamo Luxardo, Pernor Ricard and more.

Liqueur Market Scope

Key Segments in the “Global Liqueur Market” are-

By Packaging, market is segmented into:

• Metal can
• PET bottle
• Glass
• Others

By Distribution Channel, market is segmented into:

• Supermarkets
• Retailers
• On-premises
• Convenience stores

By Type, market is segmented into:

• Fruit flavored
• Creams
• Bitters/ Neutrals
• Others

By Regions market is segmented into:

• Europe
• North America
• Asia Pacific
• LAMEA