The digestive bitters global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Digestive Bitters Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The digestive bitters market size has grown strongly in recent years. It will grow from $1.50 billion in 2023 to $1.62 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to evolution of digestive bitters, infusing medicinal herbs in jars of wine, increases prevalence of self-medication, rise in usage of self-diagnosis, and increasing consumption of fast food.
The digestive bitters market size is expected to see strong growth in the next few years. It will grow to $2.18 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to development of commercial aromatic bitters, experienced a resurgence in popularity as a health aid, growing e-commerce channel, growing popularity of natural and organic products, and rising expansion of the geriatric population. Major trends in the forecast period include innovative herbal extracts and botanicals used in traditional medicine, influencing new business development and investment, and creation of novel products and technology.
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Scope Of Digestive Bitters Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Digestive Bitters Market Overview
Market Drivers –
The rising demand for natural and organic products is expected to propel the growth of the digestive bitters market going forward. Natural products contain ingredients derived from natural sources, while organic products are made from materials produced by organic agriculture and adhere to strict standards for organic production and certification. The demand for natural and organic products is due to sustainable and eco-friendly products, changing consumer preferences, and increased awareness of health and environmental issues. Digestive bitters enhance natural and organic products by offering a traditional, plant-based solution to support digestive health and enhance the holistic appeal and effectiveness of natural and organic offerings. For instance, in May 2023, according to the UK government, organically grown cereal crops increased by 6.2% to 49 thousand hectares in 2022. The area of organically grown vegetables (including potatoes) increased by 4.8% to 10 thousand hectares compared to 2021. Therefore, the Rising demand for natural and organic products drives the digestive bitters market.
Market Trends –
Major companies operating in the digestive bitters market are developing innovative products such as cocoa bitters to appeal to health-conscious consumers seeking flavorful and functional options that aid digestion and enhance culinary experiences. Cocoa bitters are aromatic bitters that infuse the rich, complex flavors of cocoa and chocolate into cocktails and other drinks, making them a versatile addition to any kitchen or bar. For instance, in September 2021, Angostura, a Spain-based food and beverage company, launched cocoa bitters. It is crafted with fine Trinitario cocoa, a prized variety grown in Trinidad and Tobago, where Angostura has blended bitters for nearly two centuries. The cocoa nibs are combined with a blend of herbs, spices, and botanicals to create a rich, indulgent flavor profile. These innovative cocoa bitters were designed to inspire creativity and experimentation in cocktails and savory and sweet culinary applications. These bitters are characterized by their initial flavors of floral, nutty cocoa, complemented by a captivating blend of aromatic botanicals. They are specifically designed to enhance the flavors of sweet vermouth and aged spirits such as whiskey, rum, cognac, and tequila, imparting richness and complexity to cocktails.
The digestive bitters market covered in this report is segmented –
1) By Type: Aromatic Bitter, Nutritive Bitter, True Bitte
2) By Packaging: Plastic Bottle, Tetra Pack, Cans, Glass Bottle
3) By Distribution Channel: Supermarket, Convenience Store, Over-The-Counter, Online Store
4) By Application: Restaurant Service, Retail Service
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Regional Insights –
Europe was the largest region in the digestive bitters market in 2023. The regions covered in the digestive bitters market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the digestive bitters market are Jagermeister, Aperol, Steadfast Herbs, Gruppo Montenegro , Quicksilver Scientific Inc., SALUS-Haus, Mountain Rose Herbs, Napiers the Herbalists, Harmonic Arts, Urban Moonshine, Zwack Unicum Plc, St. Francis Herb Farm, OWL Venice, Natural Hope Herbals, King Floyd, Josh Gitalis, Areté Herbs , Avena Botanicals, Granary Herbs Ltd., Botanica
Table of Contents
1. Executive Summary
2. Digestive Bitters Market Report Structure
3. Digestive Bitters Market Trends And Strategies
4. Digestive Bitters Market – Macro Economic Scenario
5. Digestive Bitters Market Size And Growth
…..
27. Digestive Bitters Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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