Global Liqueurs Market 2017-2021

Overview of the global liqueurs market

Technavio’s market research report predicts that the global liqueurs market will grow at a steady rate and post a CAGR of more than 2% during the forecast period. The rising popularity of luxury liqueurs will be one of the primary drivers for market growth. Baileys introduced Baileys XC, a high-quality liqueur with quality packaging and premium ingredients which combines cream, cognac, and fine spirit. It is a premium liqueur and is available through the duty-free channels. The product has a hologram effect and is offered in a blue and gold bottle to attract consumers. Similarly, Bacardi Brown-Forman also launched their upsell campaign Just Add Chambord in 2016. Chambord is a premium French black raspberry liqueur from the brand and the company focuses on capitalizing on the rising trend of premiumization of wines by introducing Chambord cocktail. The increasing disposable income of people across the globe will significantly increase the demand for luxury liqueurs in the coming years, which will in turn, fuel the growth of this global market.

This market research and analysis estimates that in terms of geographic regions, EMEA dominated the liqueurs market during 2016 and will continue its market dominance during the forecast period as well. The increase in consumer preference toward flavored liqueurs, the rising demand for craft spirits, and the acceptance of drinking as part of the tradition in Western Europe, will be the major factors driving the growth of the market in this region.  

Competitive analysis and key vendors

The liqueurs market is competitive and the manufacturers are focusing on introducing new products with new flavors to gain a competitive edge over the other market players. The rising competition in the market is likely to lead to a reduction in product prices, which in turn, will affect the profit margins of the vendors. With the market’s growth mainly dependent on the shift in consumer preferences and demands, the vendors are investing in marketing campaigns that will help them capture the attention of the target audience.