Liqueurs are sweetened spirits with various flavors, oils, and extracts. It is made using fruits, cream, herbs, spices, flowers or nuts, etc. Liqueurs have a wide range of flavors, namely coffee, almond, orange, cream, etc.
Major factor driving growth of the global liqueur market is increasing spending capacity, changing lifestyle pattern and demand for premium liqueur products among adults.
The global liqueur market is segmented on the basis of type, distribution channel, packaging, and region.
The type segment of global liqueur market is segmented on the basis of neutrals/bitters, creams, and fruit flavored.
The distribution channel segment of global liqueur market is segmented on the basis of convenience stores, on premises, retailers, and supermarkets. The convenience stores segment is estimated to dominate the global liqueur market in terms of revenue contribution, and is expected to continue its dominance over the forecast period. The supermarket segment is projected to register highest CAGR over the forecast period.
The packaging segment of global liqueur market is segmented on the basis of glass, pet bottle, and metal can.
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On the basis of region, the global liqueur market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.
The market in Europe is expected to account for largest share in the global market in terms of revenue, owing to social acceptance of consumption of alcohol in countries in the region. The market in North America and Asia Pacific are expected to account for significant revenue shares in the global market. The market in Asia Pacific is projected to register lucrative CAGR in terms of revenue over the forecast period, owing to presence of major players operating in emerging economies in this region.
Key players operating in the global liqueur market include Bacardi Limited, Beam Suntory Inc., Brown-Forman Corporation, Diageo Plc, Davide Campari-Milano S.p.A., Girolamo Luxardo S.p.A, Lucas Bols B.V., Mast-Jägermeister SE, Pernod Ricard SA, and Remy Cointreau.