- Liqueur Market is expected to register a CAGR of 3.19% from 2019 to 2024 and reach $114.29 billion by the end of 2024
- Fiercely competitive, the Liqueur Market appears to be fragmented due to the presence of several large and small-scale players.
- North America dominates the global Liqueur Market due to the high disposable income in the region.
The Global Liqueur Market witnesses thriving growth all over the world. Clearly, there is huge consumer demand, and for a good reason. Liquor stores have shelves lined with a seemingly endless range of flavored vodka, rum, bourbon, and tequila.
The main processes of production of Liqueurs are infusions, maceration, and or distillation of herbs, spices, fruits, etc. or just flavored alcohol with highly concentrated extracts.
Market players strategies to launch a new product is also encouraging the growth of the Liqueur Industry. Innovations in distillation techniques and increasing consumer preferences help in market expansion. Besides, substantial initiatives in R&D to develop a new technology or distinctive tastes and flavors drive the growth of the global liqueur market. Rapidly growing youth population and an increasing disposable income impacts the market growth, positively.
Industry/ Innovation/ Related News:
August 28, 2019 —– Pernod Ricard (France), a leading global producer of wines & spirits announced the acquisition of Castle Brands (the US), a leading global developer and marketer of premium & super premium alcoholic beverages. Through this acquisition, a great brand portfolio Jefferson’s bourbon whiskey, is adding to the Pernod Ricard family. Bourbon is a major category in the US which is the most important market for Pernod.
This deal aligns well with Pernod’s consumer-centric strategy to offer its consumers the broadest line-up of high-quality premium brands. As with Pernod’s American whiskeys, it would provide a reliable route to market, while remaining true to its authentic and innovative character.
Players leading the Liqueur Market include Beam Suntory Inc. (US), Bacardi Limited (Bermuda), The Brown–Forman Corporation (US), Davide Campari-Milano S.p.A. (Italy), Diageo plc (UK), Girolamo Luxardo S.p.A (Italy), Amarula Cream (South Africa), Lucas Bols BV (Netherlands), Empee Distilleries (India), Pernod Ricard SA (France), Mast-Jägermeister SE (Germany), Remy Cointreau (France), United Breweries Holdings Limited (India), DeKuyper Royal Distillers (France), and Globus Spirits Ltd. (India), among others.
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North America dominates the global Liqueur Market due to the high disposable income in the region. The rising demand for Liqueur from the hospitality industry and as well as households, is a key driving force. Furthermore, relaxation in liqueur production regulations is expected to support the regional market in creating larger revenue pocket. The region would hold on to its dominance over the global Liqueur Market throughout the forecast period.
Europe is another lucrative market for liqueurs, globally. The presence of key market players and high consumption of the liqueurs in these regions is a significant tailwind thrusting the regional market forward. Besides, rising per capita income and liqueur enthusiasts, alongside, the influence of media industry impacts the regional market growth positively.
Fiercely competitive, the Liqueur Market appears to be fragmented due to the presence of several large and small-scale players. Growth in terms of product innovations and distillation techniques and technologies are also expected to create strong investment opportunities for these players. Focused on improving their market performance, these players acquire promising companies to expand in the fast-growing markets.
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