Global Liqueurs Market 2017-2021
Liqueur is made of neutral spirits and is flavored with cream, fruits, herbs, and other materials and then sweetened. In the US, liqueur is any liquor containing at least 2.5% sugar syrup by weight. Whereas in France, liqueur contains at least 100 grams of sugar per liter. Liqueur is made of neutral spirits and flavored with fruits, herbs, and other materials. It is generally sweetened. The alcohol content of liqueur ranges from 34 to 60 proof and can reach 100 proof. Generally, liqueurs are consumed after having food as they are good for digestion. Baileys, Malibu, De Kuyper, Kahlúa, Amarula, Lubelska, Żoladkowa, Gorzka, and Cointreau are some of the key brands in the market. Liqueurs are categorized as bitters, cream-based, and other liqueurs.
Technavio’s analysts forecast the global liqueurs market to grow at a CAGR of 2.38% during the period 2017-2021.
Covered in this report
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 market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Liqueurs Market 2017-2021
Technavio recognizes the following companies as the key players in the global liqueurs market: Bacardi, Beam Suntory, Diageo, Lucas Bols, Pernod Ricard, and Rémy Cointreau.
Other Prominent Vendors in the market are: Brown-Forman, Gruppo Campari, E. & J. Gallo Winery, Luxardo, Mast-Jägermeister, Peel Liqueur, Sazerac, Terra, The Drambuie Liqueur, and Stock Spirits Group.
Commenting on the report, an analyst from Technavio’s team said: “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. Mixers and bartenders are creating more experiences around cocktails such as new varieties of cocktails, on-premise programs like cocktail-making sessions for consumers to create interest and thereby to tap the demand. Bartenders are researching on genderless cocktails, fragrance menus, and fluorescent drinks. Increasing use of liqueurs in cocktails is a key driver in the global liqueurs market. In layered drinks, liqueurs with a thick consistency are being used.
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. Nowadays, consumers are more likely to read the nutritional labels and are demanding drinks with low alcohol content. Manufacturers are thus coming up with products like wines and beers that contain fewer calorie and low alcohol content to cater to this demand. Such substitute drinks challenge the growth of the global liqueurs market by affecting the volume.
Bacardi, Beam Suntory, Diageo, Lucas Bols, Pernod Ricard, Rémy Cointreau, Brown-Forman, Gruppo Campari, E. & J. Gallo Winery, Luxardo, Mast-Jägermeister, Peel Liqueur, Sazerac, Terra, The Drambuie Liqueur, and Stock Spirits Group.