Technavio analysts forecast the global liqueurs marketto grow at a steady CAGR of more than 2% during the forecast period, according to their latest report.
This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170517006197/en/
Technavio has published a new report on the global liqueurs market from 2017-2021. (Graphic: Business Wire)
The research study covers the present scenario and growth prospects of the global liqueursmarketfor 2017-2021. Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
Liqueurs are blends and are obtained by distilling a base spirit and adding flavors and sweeteners. Spirits such as whiskey, cognac, or rum are the base of many liqueurs, and the flavors include coffee, chocolate, berry, cream, fruit, nut, and herbal. For example, herbal liqueurs may contain many flavors to get the desired flavor profile. Diageo, Beam Suntory, Pernod Ricard, Rémy Cointreau, and Lucas Bols are some of the highest-selling liqueur manufacturers globally.
Looking for more information on this market? Request a free sample report
Technavio's sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Technavio food and beverage analysts highlight the following three factors that are contributing to the growth of the global liqueurs market:
Growing popularity of luxury liqueurs
There is a rise in demand for luxury liqueurs in the market. One of the reasons is the increasing disposable income. Baileys launched Baileys XC, which combines cream, cognac, and fine spirit. It is a high-quality liqueur with quality packaging and premium ingredients. It is a premium liqueur and is available through the duty-free channel.
Manjunath Reddy, a lead food research analyst at Technavio, says, "Bacardi Brown-Forman launched an upsell campaign in 2016 called Just Add Chambord. Chambord is a premium French black raspberry liqueur from the brand. The campaign aimed at capitalizing on the growing trend of premiumization of wines in the on-trade by pushing Chambord cocktail
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, especially 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," adds Manjunath.
New product launches
Due to the increased demand for premium and quality liqueurs, manufacturers are coming up with new products. Cointreau Blood Orange from Rémy Cointreau is prepared with Corsican blood orange peel and was launched in travel retail in 2015. FAIR unveiled organic and fair trade-certified new liqueur Açai in 2017.
Top vendors:
- Bacardi
- Beam Suntory
- Diageo
- Lucas Bols
- Pernod Ricard
- Rémy Cointreau
Browse Related Reports:
- Global Ready Meals Market 2017-2021
- Global Coffee Pods Market 2017-2021
- Global Commercial Meat Processing Equipment Market 2017-2021
Become a Technavio Insights member and access all three of these reports for a fraction of their original cost. As a Technavio Insights member, you will have immediate access to new reports as they're published in addition to all 6,000+ existing reports covering segments like engineering tools, tools and components, and unit operations. This subscription nets you thousands in savings, while staying connected to Technavio's constant transforming research library, helping you make informed business decisions more efficiently.
About Technavio
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
If you are interested in more information, please contact our media team at media@technavio.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170517006197/en/
Contacts:
Technavio Research
Jesse Maida
Media Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com
