LONDON, April 27, 2022 (GLOBE NEWSWIRE) — According to The Business Research Company’s absinthe market research report, rising consumption of alcohol and other beverages is expected to propel market growth. absinthe. Consumers around the world are consuming more and more alcoholic products and beverages. For example, in 2019, according to the World Health Organization, Czech citizens consumed the most alcohol per capita, with citizens consuming 14.26 liters of pure alcohol; Latvia consumed 13.19 liters and Moldova 12.85 liters of pure alcohol per capita. Hence, increasing consumption of alcohol and other beverages is driving the growth of the absinthe market.
The size of the global absinthe market is expected to grow from $33.20 billion in 2021 to $33.96 billion in 2022 at a compound annual growth rate (CAGR) of 2.30%. Global absinthe industry growth is expected to reach $38.61 billion by 2026 to CAGR of 3.26%.
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New product launches are a key trend gaining popularity in the absinthe market. Modern absinthe is the result of laboratory experiments. For example, in November 2019, gin brand Hendrick’s entered the spirits category with the launch of a modern absinthe, featuring the brand’s signature flavors of rose and cucumber. This flavored absinthe is composed of anise and wormwood extracts. It also contains the traditional wormwood botanicals, as well as juniper orange and yarrow. These combinations give the product much more flavor.
The major players in the absinthe market are Pacific Distillery LLC, Teichene, Duplais Verte, La Fée Absinthe, Kübler Absinthe Superieure, Hill’s Liquere North America, La Clandestine, Doubs Mystique, Butterfly Absinthe, Lucid, Metelka, CF Berger, Jade Nouvelle Orleans, Rudolf GmbH, Vieux Carré, Mansinthe, Rudolf Group and Philadelphia Distilling Company.
TBRC’s global absinthe market analysis is segmented by type into green absinthe, ordinary absinthe, reve pastis absinthe, bohemian absinthe, amber absinthe, white absinthe; by distribution online, offline; by application in medical, food and beverage, cosmetic.
In 2021, Europe was the greater region on the absinthe market. During the forecast period, North America should be the fastest growing region on the world absinthe market. Regions covered in the Global Absinthe Market Outlook are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The Global Absinthe Market Report 2022 – Global Market Size, Trends and Forecasts 2022-2026 is part of a series of new reports by The Business Research Company that provide insights into the absinthe market, analyze the Absinthe Market and forecasts market size and growth for overall market, Absinthe Market Segments & Geographies, Absinthe Market Trends, Absinthe Market Drivers, Absinthe Market Restraints absinthe market, revenues, profiles and market shares of the main absinthe market competitors in more than 1,000 industry reports, covering more than 2,500 market segments and 60 geographies. The report also gives an in-depth analysis of the impact of COVID-19 on the market. The reports are based on 150,000 datasets, extensive secondary research and proprietary insights from interviews with industry leaders. A highly experienced and expert team of analysts and modellers provide market analysis and forecasts. The reports identify key countries and segments for opportunities and strategies based on market trends and key competitor approaches.
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