Liqueurs Market Expected to Reach $131 Billion, Globally, by 2023 | Major Leading Players: Bacardi Limited, Beam Suntory Inc., Brown-Forman Corporation, Diageo Plc, Davide Campari-Milano

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.

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.

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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.

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.

Key Benefits
•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:

By Type
• Neutrals/Bitters
• Creams
• Fruit Flavored
• Others

By Distribution Channel
• Convenience Stores
• On Premises
• Retailers
• Supermarkets

By Packaging
• Glass
• PET Bottle
• Metal Can
• Others

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The major companies 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-Jgermeister SE, Pernod Ricard SA, and Remy Cointreau.

In 2015, Asia-Pacific and Europe collectively accounted for over three-fifths of the global market, though Europe is expected to grow faster during the forecast period. High growth rates in Germany, Spain, and the UK is estimated to drive this development.

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