Overview and Scope
Absinthe is a flavored spirit derived from several plants, including the leaves and flowers of artemisia absinthium together with other aromatic ingredients. Absinthe is prepared from high alcohol spirits, with an alcohol content of 68% by volume. Absinthe is usually consumed by diluting with water and can be used to flavor mixed drinks.
Sizing and Forecast
The absinthe market size has grown steadily in recent years. It will grow from <b>$34.71 billion in 2023 to $35.75 billion in 2024 at a compound annual growth rate (CAGR) of 3.0%. </b> The growth in the historic period can be attributed to cultural heritage, artistic influence, legal regulations, craftsmanship revival, cocktail culture.
The absinthe market size is expected to see steady growth in the next few years. It will grow to <b>$40.2 billion in 2028 at a compound annual growth rate (CAGR) of 3.0%. </b> The growth in the forecast period can be attributed to craft distilleries, cultural tourism, craft cocktail movement, global expansion, revised regulations. Major trends in the forecast period include absinthe lounges and bars, innovative cocktails, heritage brands, absinthe tourism, green hour tradition.
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Segmentation & Regional Insights
The absinthe market covered in this report is segmented –
1) By Type: Absinthe Verte, Absinthe Ordinaire, Absinthe Reve Pastis, Absinthe Bohemian, Absinthe Amber, Absinthe Blanche
2) By Distribution: Online, Offline
3) By Application: Medical, Food And Beverage, Cosmetic
<b>Europe</b> was the largest region in the absinthe market in 2023. <b>North America</b> is expected to be the fastest-growing region in the absinthe market share during the forecast period. The regions covered in the absinthe market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The increasing alcohol and other beverage consumption is expected to propel the growth of the absinthe market. Consumers globally are increasingly consuming alcohol products and beverages. For instance, in January 2022, according to an article published by The Harvard Gazette, an official news website of Harvard university, researchers recreated the drinking trajectories and liver disease trends in all U.S. people using data from a national survey of U.S. adults on their drinking habits, which indicated that excessive drinking (such as binge drinking) increased by 21% during the COVID-19 pandemic. Therefore, the increasing alcohol and other beverage consumption is driving the growth of the absinthe market.
Key Industry Players
Major companies operating in the absinthe market include <b> Pacific Distillery LLC, Teichene SA, Metelka AS, Mansinthe, Philadelphia Distilling Company, Pernod Ricard SA, St. George Spirits, Leopold Bros., Green Moon Ltd., La Muse Verte, Philippe II Duke of Orléans, La Grenouille Bleue Ltd., Absinthe La Fee, Lucid Absinthe, Kübler Absinthe Superieure, St. George Absinthe Verte, La Clandestine Absinthe, Jade Liqueurs LLC, Butterfly Absinthe, Vieux Carré Absinthe, Ridge Distillery Absinthe, La Maison Fontaine, Hills Absinth, François Guy Absinthe, Mata Hari Absinthe, Absinthe Duplais Verte, Corsair Distillery, Dan Murphy’s, Copper & Kings American Brandy Company </b>
The absinthe market report table of contents includes:
1. Executive Summary
2.Absinthe Market Characteristics
3.Absinthe Market Trends And Strategies
4.Absinthe Market analysis
5.Absinthe Market Size And Growth
6.Absinthe Segmentation
7.Absinthe Regional And Country Analysis
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27.Absinthe Competitive Landscape And Company Profiles
28. Absinthe Key Mergers And Acquisitions
29. Absinthe Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Pacific Distillery LLC
- Teichene SA
- Metelka AS
- Mansinthe
- Philadelphia Distilling Company
- Pernod Ricard SA
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