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Comprehensive outlook and valuable analysis on how the COVID-19 impacts the Global Absinthe Market 2019-2026

04-15-2020 10:18 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Allied Market Research

/ PR Agency: Allied Market Research
Absinthe Market

Absinthe Market

AMR team is working exclusively on COVID-19 impact on various Absinthe Market. The COVID-19 update is in progress and our research team is doing primary research activity to find out the revised growth curve of across all the industries at country level. Conducting an exclusive study keeping COVID-19 in mind would help client to interpret the economic impact in near-terms of and long term future. AMR research team is also tracking the changing dynamics of Absinthe Market industry along with its immediate impact on the market.

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Key Findings of the Absinthe Market :
The absinthe market was valued at $34,149 million in 2018 and is estimated to reach $44,287 million by 2026, growing at a CAGR of 3.4 % throughout the forecast period.
By type, the absinthe reve pastis segment is expected to witness fastest growth, registering a CAGR of 4.6% during the forecast period.
In 2018, by type, the absinthe bohemian segment held the highest share.
In 2018, by region, Switzerland was the most prominent market in Europe and is expected to grow at a significant CAGR throughout the forecast period.
Europe was the dominant region in 2018, accounting for more than two-fifth of the absinthe market share.

The companies profiled in the report are Pacific Distillery, Teichenne, S.A., Duplais Verte, La Fe Absinthe, Kbler Absinthe Superieure, Hill's Liquere North America, La Clandestine, Doubs Mystique, Butterfly absinthe, and Milan METELKA a.s.

According to a new report published by Allied Market Research, titled, " Absinthe Market by Type, and Application: Global Opportunity Analysis and Industry Forecast, 2019-2026," the absinthe market size was valued at $34.1 billion in 2018 and is estimated to reach $44.2 billion by 2026, registering a CAGR of 3.4% from 2019 to 2026.

A colorless or which is often green liquor made with flavors such as wormwood and anise is known as Absinthe. The process of obtaining desired absinthe also includes addition of medicinal and culinary herbs such as leaves and flowers of Artemisia Absinthium, Melissa, coriander, star anise, peppermint, and veronica. Its alcohol content is very high compared to other alcoholic beverages. While whisky's alcohol contain is around 40%, and Rum contain 35% alcohol roughly; Absinthe's alcohol content is as high as 60-90% depending on type. Hence, it is more of a pure alcohol drink than just a beverage. During the production of beer and wine, usually yeast is added to a sugary solution. During fermentation process, the added yeasts consumes sugar and formation of alcohol takes place. In Absinthe, wormwood is the vital ingredient. Wormwood (Artemisia Absinthium) is an herbal and medicinal plant, which gives absinthe the distinct taste, which it is known for. While traditional absinthes are redistilled from white grape spirit, lesser absinthes were commonly made by alcohol processed from grain, potatoes, or beets.

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The global absinthe market is segmented on the basis of type, application, and region. By type, the market is categorized into absinthe blanche, absinthe amber, absinthe verte, absinthe ordinaire, absinthe reve pastis, absinthe bohemian, absinthe liqueur, and premium absinthe. By application, the market is classified into food & beverage industry, cosmetic industry, and medical industry. By region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

By type, the absinthe bohemian segment generated the highest revenue in 2018 and is expected to remain dominant throughout the forecast period. This can be attributed to increase in demand for products with new taste and lower alcohol content, in countries such as Japan and China. Moreover, increase in penetration of flavored absinthe products is expected to increase the demand for absinthe bohemian in the countries such as the U.S. However, the absinthe reve pastis segment is expected to grow at the highest CAGR throughout the forecast period

By application, the food & beverage segment was the most prominent segment accounting for maximum share in the global market. This can be attributed to the increase in demand for new flavors developed by the players for this category. However, the cosmetic segment is expected to witness notable growth, with a CAGR of 4.6% from 2019 to 2026.

By region, Europe accounted for maximum share in the global market in 2018 and is expected to remain dominant during the forecast period. North America is expected to grow with the highest CAGR throughout the forecast period, owing to the adoption of new products introduced in the absinthe market among consumers.

Access Full Summary Report at: https://www.alliedmarketresearch.com/absinthe-market

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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