Global Liqueurs Market Analysis Report 2018 by Size, Share, Growth and Assessment to 2023

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.

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Liqueur is an alcoholic beverage, commonly flavored or sweetened to provide a new texture for the drink. These beverages are divided into three general classesneutrals/bitters, creams, and fruit flavored. Liqueurs are generally made with neutral grain spirits, referring to the flavor being neutral, as the spirits are not finished. The demand for these beverages has changed in the last few years, considering the on/off premises consumption trends.

Increase in global young adult demographic coupled with high disposable income fuel the global liqueurs market. However, lack of penetration in the emerging countries, and escalation of sport drink market, owing to health concerns is expected to restrict the market growth in the future. Introduction of healthier varieties of beer and spirits is expected to offer lucrative opportunities for market players.

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Bitters is expected to maintain its dominance in the market during the forecast period. This segment held close to two-fifths of the market share in 2016, in value terms, owing to established demand and blend readiness. However, creams are expected to grow with a faster rate due high demand from mixologists and younger demographic during the forecast period.

In 2016, retail distribution channels dominated the global market, with nearly one-third share, in terms of volume. Increase in demand for off premises consumption owing to promotion campaigns is anticipated to drive the market growth.

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