The global liqueurs market to grow at a CAGR of 2.38% during the period 2017-2021.
The report covers the present scenario and the growth prospects of the global liqueurs market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The report also includes a discussion of the key vendors operating in this market.
One trend in market is demand for new flavors. One of the trends expected to drive the market growth during the forecast period is the high demand for new flavors in liqueurs. There is an increased demand for flavored alcoholic drinks such as flavored liqueurs, flavored vodka, malt beverages, and ready-to-drink (RTD) beverages among the consumers, especially the millennials. To tap the growing demand, vendors are investing in R&D to develop new flavors. Herbal and bitter liqueurs are enjoying a steady resurgence.
According to the report, one driver in market is increasing demand for cocktails. A resurgent cocktail culture has increased the demand for liqueurs as they are used to make cocktails. The market share for beer is decreasing due to the cocktail culture. But, the market share of cocktail-friendly spirits such as whiskey, liqueurs, and tequila is increasing. It is observed that there is a rise in demand for cocktails, specially from traditional brands, in bars and pubs. The cocktails market is growing, and the consumer demand is more for healthy cocktail options.
Further, the report states that one challenges in market is low alcohol by volume (ABV) content substitute products. One of the major challenges for the global liqueurs market is the increasing demand for low-alcohol content drinks among consumers. This demand is due to the increasing health consciousness among the consumers.
Other prominent vendors
E. & J. Gallo Winery
The Drambuie Liqueur
Stock Spirits Group
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Research Methodology
Part 04: Introduction
Part 05: Market landscape
Part 06: Market segmentation by product
Part 07: Market segmentation by distribution channel