Ouzo Market Driven by Increasing Tourism in Greece and Cyprus

Market Introduction:

Ouzo is an alcoholic drink which is a dry anise flavored aperitif native to Greece, Cyprus and Lebanon. The taste of ouzo is similar to other anise liquors such as pastis and Sambuca. Ouzo is an ancient drink with protected designation of origin, prohibiting other European manufacturers to use the name except Greece and Cyprus. Ouzo is also said to have some health benefits if consumed in reasonable proportions. It can be used as an antiseptic and can also cure headaches and flu. Ouzo is more popular in summers and served with food, as it helps in enhancing the appetite. Greeks also used ouzo in many dishes in order to add anise flavor to foods such as sea food marinades, cookies etc. Ouzo is prepared by using the by-products of grapes after they have been used for preparation of wine.

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Ouzo market is expected to increase with significant CAGR over the forecast period across the globe, owing to increasing awareness among millennial coupled with curiosity among individuals to try new things. Increasing tourism in Greece and Cyprus is also expected to fuel the growth of Ouzo market over the forecast period as tourists develop the taste for regional drinks.

Ouzo Market: Segmentation

Ouzo market can be segmented on the basis of product type, sales channel and region.

On the basis of product type, ouzo market can be segmented into combined, cooked and combined, distilled, and cooked & distilled. In combined type, ingredients are simply combined. These ouzos have very sharp flavor and a strong, biting taste. Cooked and combined type ouzos include cooked ingredients before bottling. Distilled and cooked and distilled types are the most prominent segments and are expected to increase the revenue from ouzo market over the forecast period.

On the basis of sales channel, ouzo market can be segmented into direct and retail sales. Direct sales includes HoReCa, institutional sales etc. Retail sales is further segmented into modern trade, bars/pubs, specialty stores, online retail, and other retailing formats.

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On the basis of region, ouzo market can be segmented into five key regions: North America, Latin America, Europe, Asia Pacific, and Middle East and Africa.

Ouzo market: Drivers, Restraints, and Trends

Increasing tourism in Greece and Cyprus is expected to boost the sales of ouzo market over the forecast period. Increasing number of individuals consuming alcoholic drinks across the globe, owing to perception that it relaxes state of mind. Changing lifestyles, influence of social media and Internet, and increasing social parties & celebrations is also expected to increase the sales of alcohol across the globe. Adolescents with high social network influence, greater family incomes, and others have easier access to alcoholic drinks and are likely to consume more alcohol. These factors are expected to increase the revenue generated by ouzo market across the globe.

Low shelf presence of ouzo across the globe except Greece and Cyprus is expected to impede the growth of ouzo market over the forecast period. Low product penetration is also expected to hinder the growth of ouzo market. Regulations on advertisements of alcoholic drinks is also factor that has left void in ouzo market sales and hence hampering the sales across the globe.

Drinks with different flavors are trending across the globe and is expected to continue over the forecast period, as individuals are inclined towards trying new flavors.

Ouzo Market: Regional Outlook

Depending on the geographic regions, global ouzo market is segmented into five key regions: North America, Latin America, Europe, Asia Pacific, and Middle East and Africa.

In terms of consumption, Europe holds the largest share of ouzo market. Greece and Cyprus dominates the global market in terms of consumption and is expected to continue the trend over the forecast period.

North America ouzo market is expected to increase with significant CAGR over the forecast period, owing to increasing demand for variety of alcoholic drinks among millennial. The Middle East and Africa ouzo market is also expected to have a moderate growth over the forecast period as disposable income is increasing in the region. Asia pacific ouzo market is expected to increase with relatively lower CAGR over the forecast period.

Ouzo Market: Key Players

Some of the prominent manufacturers of Ouzo are Ouzo Barbayanni, Ouzo of Plomari Isidoros Arvanitis, Thomopoulos Distillery, Gruppo Campari, Pitsiladi distillates, Pernod Ricard, and others.

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This release was published on openPR.