Absinthe Market Supported by a CAGR of 3.4% by 2026 | Pacific Distillery, Teichenne, S.A., Duplais Verte

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.

Over the years, consumers are demanding variations in liquor and alcoholic beverages. They are now aware of presence of absinthe in the market which gives consumers' different taste. Furthermore, its alcohol content is also more than other usually consumed drinks, this factor is proving to be major driving factor for the market in recent year.

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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.

Absinthe was banned in the U.S. and many countries of Europe till 2007 owing to the rumors about its adverse effects causing hallucination and mental disturbance. But the ban in the U.S. revoked in 2007 after proofs of absinthe's being not dangerous have been submitted. Since 2007, the market for absinthe has experienced a substantial growth. More market players are engaging in the production of absinthe after the ban revocation. Absinthe was made legal in the European Union in 1988, provided the amount of thujone falls within the agreed limit of 10mg/kg, or 35mg/kg for absinthe bitters. U.S. and Europe are the leading regions when it comes to the consumption of alcohol and alcoholic beverages, and alcohol is been a part of their lifestyle since ancient times. Consumers now want newer taste and flavors, and absinthe is giving consumers the different taste than other alcoholic beverages owing to the addition of wormwood. This factor is driving the growth of the absinthe market, and is expected to do so during the forecast period.

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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.

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

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