Liqueur Market Overview
The liqueur market is expected to register a CAGR of 3.19% by the end of the forecast period and is expected to reach a value of USD 166.29 billion. Cocktails made with premium spirits and other tastes are known as mixers. A rapidly growing youth population, paired with rising disposable income, is predicted to propel the market forward. Liqueurs have distinct tastes and flavours, which pique purchasers' interest in mixers. The liqueur sector is expected to benefit from the other industry's rapid growth, which can be attributed to the growing demand for sporting activities. In addition, the changing style of life and increased acceptance of cocktails in non-industrialized countries are projected to aid market growth. However, the high cost of liqueurs in many countries throughout the world will most likely stifle the growth of the liqueur business.
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Competitive Landscape
The major key players in the market are E & J Gallo, William Grant & Sons, Boston Beer, Miller Coors, Diageo, Treasury Wine Estates, Jose Cuervo, Constellation Brands, Beam-Suntory, Mast-Jaegermeister, Bacardi, Pernod Ricard, Edrington Group, Brown-Forman, Pabst Brewing, Anheuser-Busch, Carlsberg, China Resource Enterprise, Accolade Wines, Vina Concha y Toro, Torres, Heineken, The Wine Group, Craft Brew Alliance Inc., Molson Coors Brewing Co., Hazelwood International Holdings Plc., and Bundaberg Brewed Drinks Pty Ltd.
Liqueur market size shows the competitive landscape by providing facts about a competitor, such as business profile, revenue generated, market potential, company financials, R&D investment, new market efforts, and so on. The data supplied is only relevant to the companies' emphasis on the liqueur beverages industry.
Market Segmentation
Based on type, the liqueur market overview has been segmented into coffee, fruit, creme & cream, herbs & spices, chocolate, and others.
Based on the distribution channels, the market has been segmented into supermarkets & hypermarkets, retail, food service, specialty stores, and others.
Based on market region, the market has been segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
Regional Classification
Because of the region's high disposable income, the liqueur market share in North America is likely to dominate the global market. Furthermore, the hospitality industry's increased demand for liqueur is expected to push the market in the region. Due to the region's rising youth population, the Asia-Pacific liqueur market is expected to grow at the fastest rate in the world.
Higher disposable income translates to increased recreational spending capacity, which is predicted to fuel the growth of the liqueur industry in this region. The remainder of the world is predicted to grow steadily as disposable income rises and the hospitality business expands in numerous South American countries, including Argentina and Brazil. The presence of key vendors, the growing number of breweries, the growing demand for craft spirits, and the rising incomes of individuals in the region are all contributing to the expansion. Additionally, due to the pandemic and attendant lockdowns, an increase in online sales of liqueurs beverages has aided the expansion of the region's craft spirit business, particularly in the United States, Canada, and Mexico.
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