IMARC Group, a leading market research company, has recently releases report titled “Absinthe Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032” The global absinthe market size reached US$ 49.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 63.2 Billion by 2032, exhibiting a growth rate (CAGR) of 2.8% during 2024-2032.
Absinthe represents a bitter-tasting, highly aromatic, and yellowish-green spirit distilled from grains, potatoes, grape alcohol, beets, fresh herbs, etc. It is predominantly flavored by wormwood and other botanicals, such as licorice, anise, hyssop, fennel, angelica roots, etc. Absinthe is bottled at a very high alcohol concentration, but when served, it is diluted with ice and water and used to flavor mixed drinks. It offers anti-inflammatory and anti-tumor properties and assists in boosting immunity as well as fighting infections. In line with this, absinthe aids in stimulating appetite, diabetes management, preventing blood clots, heart diseases, and cancer, etc. Consequently, it finds wide-ranging applications in several industries, including personal care and medical.
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What are the growth prospects and trends in the Absinthe Industry:
The increasing expenditure capacities of consumers and the escalating demand for exotic and premium alcoholic products are primarily driving the absinthe market. Additionally, the expanding food and beverage (F&B) industry is further catalyzing the market growth. Besides this, the widespread adoption of absinthe at bars, hotels, restaurants, etc., as a cocktail drink or in combination with gin, grapefruit juice, wine, vermouth, orange flower water, blackberries, grenadine, etc., is acting as another significant growth-inducing factor. Moreover, it is extensively utilized in alternative medicine applications, owing to the presence of wormwood to improve digestive health, alleviate pain, reduce inflammation, remove harmful parasites, minimize osteoarthritis, treat nausea, stomach cramps, and liver diseases, etc., which is positively influencing the global market. Apart from this, the inflating popularity of absinthe among musicians, artists, painters, and guitarists is also augmenting the market growth. Furthermore, the introduction of additional flavors by leading manufacturers is anticipated to fuel the absinthe market over the forecasted period.
Who are the key players operating in the Absinthe industry:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Butterfly Absinthe
- Hill’s Liquere North America
- Hood River Distillers Inc.
- Jade Liqueurs® LLC
- La Clandestine
- La Fée Absinthe
- Milan METELKA a.s.
- Pacific Distillery
- Pernod Ricard
- Philadelphia Distilling
- Teichenné S.A.
Breakup by Type:
- Absinthe Blanche
- Absinthe Amber
- Absinthe Verte
- Absinthe Ordinaire
- Absinthe Reve Pastis
- Absinthe Bohemian
- Others
Breakup by Application:
- Food and Beverage
- Cosmetic
- Medical
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Key highlights of the report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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