Liqueurs Market SizeTo Reach $166.96 Billion By 2031: Diageo, Lucas Bols B.V., GirolamoLuxardoS

The liqueurs market is expected to witness significant growth, owing to increased consumption of liqueurs in developing regions such as Asia-Pacific. Moreover, rise in income levels and urbanization has been the key driver for liqueurs market. Furthermore, raised interest of millennial toward alcohol beverages such as liqueurs has further augmented the growth of the market. Increase in aggressive advertisements and promotions through social media platforms by manufacturers play a crucial role in the growth of the liqueurs market

Rise in the global young-adult demographic, high disposable income, and rise in consumer demand for premium/super premium products have boosted the growth of the global liqueurs market.

Get Sample PDF Of This Report: https://www.alliedmarketresearch.com/request-sample/3468

Most of the countries in the world have witnessed rapid urbanization and improvement in their financial conditions. This has led to an overall rise in the disposable income of the people. In addition, this has made way for shift in consumer preferences, especially among young, aspirational drinkers in the developed economies, such as Europe and North America, toward different and modern liqueurs from the traditional liqueurs. Moreover, liqueur is a widely consumed, produced, and traded alcohol across the globe owing to which youth population is attracted toward it. In addition, the population has gradually inclined toward sophisticated, moderated, and premium beverages, owing to continuous innovation in taste, flavors, packaging, and others. Furthermore, increased tread to consume liqueurs in parties has further boosted the growth of the global liqueurs market.

Drivers, restraints, and opportunities

Rise in the global young-adult demographic, high disposable income, and rise in consumer demand for premium/super premium products have boosted the growth of the global liqueurs market. However, lack of penetration in developing countries and the growth of sport drinking coupled with rise in health concerns hinder the market growth. On the contrary, rise in mergers of market players would open new opportunities for the market players in the future.

Major market players

Bacardi Limited
Brown-Forman Corporation
Beam Suntory Inc.
Davide Campari-Milano S.p.A.
Diageo Plc
Lucas Bols B.V.
GirolamoLuxardoS.p.A
PernodRicard SA
Mast-Jägermeister SE
Remy Cointreau
The Covid-19 pandemic negatively affected the market due to restriction on import-export of non-essential goods. The implementation of curfew and practice of maintaining social distance affected the domestic and international production of liqueurs.

During the pandemic, manufacturers encouraged online sale of liqueurs to reach a larger consumer base.

Buy This Report (263 Pages PDF with Insights, Charts, Tables, and Figures): https://www.alliedmarketresearch.com/checkout-final/17d8d50dcf6ee21d27cc51349c985c74

The fruit flavored segment to manifest the highest CAGR through 2031

By type, the fruit flavored segment is estimated to register the highest CAGR of 5.2% during the forecast period, due to availability of variety of fruit flavored liqueur such as cherry liqueur, pear liqueur, peach liqueur, apricot liqueur, and plum liqueur. However, the neutrals/bitters segment dominated the market in terms of revenue in 2021, contributing to more than two-fifths of the global liqueurs market, due to rise in consumption of liqueurs and change in lifestyle in developing region such as Asia-Pacific and LAMEA.

The glass segment held the largest share

By packaging, the glass segment held the largest share in 2021, contributing to more than 90% the global liqueurs market, as it keeps liqueurs cool for a longer time and preserves it well. However, the metal can segment is estimated to register the highest CAGR of 7.6% during the forecast period, as it offers high resistance to sunlight and oxygen, and prevents loss of carbon dioxide in better manner as compared to glass bottles.

Asia-Pacific, followed by Europe and North America, held the lion's share

By region, the global liqueurs market across Asia-Pacific, followed by Europe and North America, held the largest share in 2021, accounting for nearly two-fifths of the market. In addition, the region is projected to portray the highest CAGR of 4.6% during the forecast period, due to rise in consumption of liqueurs, rise in youth population, and change in lifestyle in developing countries.

Request For Customization: https://www.alliedmarketresearch.com/request-for-customization/3468

Contact:
United States
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com

About Us
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.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.