liqueurs market was valued at $111 billion in 2016, and is expected to reach $131 billion by 2023, registering a CAGR of 2.5% from 2017 to 2023. Liqueur is consumed in all demographics of the world, and is based on the substrates, which are locally available. Liqueurs can be marketed with many different flavors under one brand name (range liqueurs) or with individual brand identities, such as Malibu, Alize, and Galliano.
The expansion of global young adult population, high disposable income, and demand for premium products drive the growth of the liqueur market. However, lack of
penetration in emerging countries, and growth in demand for fitness beverages owing to health issues has the potential to restrict the market growth in the future.
The global liqueur market is segmented based on type, distribution channel, packaging, and geography. By type, the market is classified into neutrals/bitters, creams, fruit flavored, and others. Based on distribution channel, the market is divided into convenience stores, on premises, retailers, and supermarkets.