Absinthe Market Synopsis
Absinthe Market Size Was Valued at USD 49.1 Billion in 2023, and is Projected to Reach USD 65.2 Billion by 2032, Growing at a CAGR of 3.2% From 2024-2032.
Absinthe is a green or sometimes colourless processed alcoholic beverage with a substantial proportion alcoholic drink made of aniseed, wormwood, culinary herbs consisting of flowers and leaves of Artemisia absinthium and some other aromatic substances. It has total liquid alcohol content of around 45-76%. If Absinthe contains no added sugar in it then it can also be classified as a spirit. Pure absinthe contains a very high percentage of alcohol by volume; nevertheless, when the consumer actually drinks it, the solution has been diluted with water. It is usually prepared from the purification of regular alcohol, spices, herbs and water. Whereas original types of absinthes contain absinthe obtained from white grape spirit redistilled, other, relatively lesser absinthes were produced using alcohol derived from grain, potatoes, or beets. Various sort of herbs that may be used to make absinthe include angelica petite wormwood, hyssop, Melisssa, coriander, star anise, peppermint and veronica.
Since 2007 after the ban was revoked in the U. S, both the mature and the emerging market has recorded high increase in the usage of absinthe and this is due to increased increase in the use of absinthe after 2007. Also, growth increase in the disposable income has contributed to the growth of the absinthe market. Also, constant introduction of new flavors by various vendors or other participants in the food market can be enumerated as some of the other factors boosting the increment of the said market. Yet, awareness concerning the several ordeals related to the unfavorable impact on people and the mental instability rumors constitute the key factor that restricts this market. On the same note, the rising demand for absinthe specially from artists and painters. musicians and guitarists is expected to present future development prospects for the absinthe market.
- Absinthe attractiveness for increased consumption domestically and internationally, medical uses for the product, and the growing market. Absinthe market survey further defines the idea of ‘mindful drinking and Sober-curious drinking and the gradual rise in the per capita income. Absinthe has been consumed by a higher number of Bars and restaurants across the globe and thus the sales for Absinthe has been boosted.
- As to the domains of development within the absinthe market, the report claims that the new enhanced flavours and refined drinks are leading to the growth of Absinthe. This has been complemented with responsible drinking and legalization of alcohol in some public places hence increasing the popularity of the absinthe market.
- This market has therefore experienced increased sales since wormwood, the plant used to make absinthe, is commonly used in medicines today than before. The diseases have made people to seek for various herbal treatments which are safer than the uses of various drugs and medicine hence promoting the sale of absinthe.
- The consumption of absinthe has risen due to liberalization of the prohibiton laws and the rise in disposable income is has been identified to drive the market advancement. Moreover, the increasing prospect for the market of absinthe, especially in artists and painters, musicians, guitarists is expected to pave the way for the market development.
Absinthe Market Trend Analysis
The resurgence of cocktail culture
- Customers show a desire to try new and exotic cocktail addictions; thus, the continued demand for traditional and classic cocktails in which absinthe plays a significant role. A research done on a year basis showed that there was a 4 percent annual trend in the consumption of non-alcoholic canned cocktails while there was a staggering 20 percent trend of the consumption of alcoholic canned cocktails. This has in turn extent the absinthe market size even further as more demand is created in the market.
- Worldwide, the use of absinthe in mixed beverages and cocktails has continued to grow; the mixologists and bartenders use it in a variety of ways to cater for different palettes. Thus, there is a great absinthe demand due to the social changes that contributed to the appreciation of niche cocktails and alcoholic beverages with a distinct taste.
Health and wellness trends
- The increasing awareness of the people towards healthy living has led to the new trend of no-sugar and organically produced drinks which include absinthe. There is, therefore, the search for substitutes that will assist consumers with their wellness goals as they turn into finer judges of food. At the same time, producers of absinthe to meet this customer appetite are inventing better alternatives by blending better products that are natural and promote the use of organic raw materials with little quantities of sugar. These products are targeting the consciously healthy customer, who does not want to compromise his/her health but at the same time, wishes to try absinthe and get the same taste/benefit/desperate first impression as that of a normal absinthe, which is good for the absinthe market scope.
Absinthe Market Segment Analysis:
Absinthe Market Segmented based on Type, and Application.
By Type, Absinthe Bohemian segment is expected to dominate the market during the forecast period
- The dramatic increase in the sales of bohemian absinthe described as Czech-style due to its relatively low price compared to other types of absinths is also opening new opportunities for market growth. Also, absinthe bohemian is often characterized by a less bitter taste, as compared to absinthe verte; therefore, a large number of consumers, especially those who have not taken absinthe before, can take it. Also, the craft of absinthe has been in Czech Republic for many generations and now distilleries have become quite skilled at it and that is also adding to the reason that absinthe bohemian is easily available in the market.
By Application, Food and Beverage segment held the largest share in 2023
- The growth of sectors related to F&B due to its diverse segments such as retail format, restaurants, and take-away food and beverage products through various channels like online food delivery services are helping in market growth, too. Final consumption outlets play the role of distribution channels and in most of the F&B outlets including bars, restaurants and the liquor stores, customers find these brands and get an opportunity to taste them out. Also, increasing tendency towards the craft cocktails and mixology has strengthened F&B outlets more to dominate the market as they are offering exclusive services for new and traditional cocktail preparation and Absinthe knowledge hence increasing the absinthe market revenue.
Absinthe Market Regional Insights:
North America is Expected to Dominate the Market Over the Forecast period
- North America is the leading market for absinthe, primarily because of the rise in its consumption, along with the experimentation in the incorporation of absinthe’s taste in the cocktail blends by bartenders and consumers. Also, the trend towards craft spirits has affected the market for absinthe, as consumers eagerly embrace the artisanal versions of absinthe. Also, there are liberalised laws governing the distribution of absinthe in some of the strategic North American markets hence boosting sales. In addition to this, the global consumer base in the region supplemented with sound distribution channel and growing consumer knowledge strengthens the position of North America as the leading absinthe market thereby exhibiting favourable signs for market growth.
Active Key Players in the Absinthe 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
- Other Key Players
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Global Absinthe Market |
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Base Year: |
2023 |
Forecast Period: |
2024-2032 |
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Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 49.1 Bn. |
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Forecast Period 2024-32 CAGR: |
3.2 % |
Market Size in 2032: |
USD 65.2 Bn. |
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Segments Covered: |
By Type |
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By Application |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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Chapter 1: Introduction
1.1 Scope and Coverage
Chapter 2:Executive Summary
Chapter 3: Market Landscape
3.1 Market Dynamics
3.1.1 Drivers
3.1.2 Restraints
3.1.3 Opportunities
3.1.4 Challenges
3.2 Market Trend Analysis
3.3 PESTLE Analysis
3.4 Porter's Five Forces Analysis
3.5 Industry Value Chain Analysis
3.6 Ecosystem
3.7 Regulatory Landscape
3.8 Price Trend Analysis
3.9 Patent Analysis
3.10 Technology Evolution
3.11 Investment Pockets
3.12 Import-Export Analysis
Chapter 4: Absinthe Market by Type
4.1 Absinthe Market Snapshot and Growth Engine
4.2 Absinthe Market Overview
4.3 Absinthe Blanche
4.3.1 Introduction and Market Overview
4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
4.3.3 Key Market Trends, Growth Factors and Opportunities
4.3.4 Absinthe Blanche: Geographic Segmentation Analysis
4.4 Absinthe Amber
4.4.1 Introduction and Market Overview
4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
4.4.3 Key Market Trends, Growth Factors and Opportunities
4.4.4 Absinthe Amber: Geographic Segmentation Analysis
4.5 Absinthe Verte
4.5.1 Introduction and Market Overview
4.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
4.5.3 Key Market Trends, Growth Factors and Opportunities
4.5.4 Absinthe Verte: Geographic Segmentation Analysis
4.6 Absinthe Ordinaire
4.6.1 Introduction and Market Overview
4.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
4.6.3 Key Market Trends, Growth Factors and Opportunities
4.6.4 Absinthe Ordinaire: Geographic Segmentation Analysis
4.7 Absinthe Reve Pastis
4.7.1 Introduction and Market Overview
4.7.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
4.7.3 Key Market Trends, Growth Factors and Opportunities
4.7.4 Absinthe Reve Pastis: Geographic Segmentation Analysis
4.8 Absinthe Bohemian
4.8.1 Introduction and Market Overview
4.8.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
4.8.3 Key Market Trends, Growth Factors and Opportunities
4.8.4 Absinthe Bohemian: Geographic Segmentation Analysis
4.9 Others
4.9.1 Introduction and Market Overview
4.9.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
4.9.3 Key Market Trends, Growth Factors and Opportunities
4.9.4 Others: Geographic Segmentation Analysis
Chapter 5: Absinthe Market by Application
5.1 Absinthe Market Snapshot and Growth Engine
5.2 Absinthe Market Overview
5.3 Food & Beverage
5.3.1 Introduction and Market Overview
5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.3.3 Key Market Trends, Growth Factors and Opportunities
5.3.4 Food & Beverage: Geographic Segmentation Analysis
5.4 Cosmetic
5.4.1 Introduction and Market Overview
5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.4.3 Key Market Trends, Growth Factors and Opportunities
5.4.4 Cosmetic: Geographic Segmentation Analysis
5.5 Medical
5.5.1 Introduction and Market Overview
5.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.5.3 Key Market Trends, Growth Factors and Opportunities
5.5.4 Medical: Geographic Segmentation Analysis
Chapter 6: Company Profiles and Competitive Analysis
6.1 Competitive Landscape
6.1.1 Competitive Benchmarking
6.1.2 Absinthe Market Share by Manufacturer (2023)
6.1.3 Industry BCG Matrix
6.1.4 Heat Map Analysis
6.1.5 Mergers and Acquisitions
6.2 BUTTERFLY ABSINTHE
6.2.1 Company Overview
6.2.2 Key Executives
6.2.3 Company Snapshot
6.2.4 Role of the Company in the Market
6.2.5 Sustainability and Social Responsibility
6.2.6 Operating Business Segments
6.2.7 Product Portfolio
6.2.8 Business Performance
6.2.9 Key Strategic Moves and Recent Developments
6.2.10 SWOT Analysis
6.3 HILL'S LIQUERE NORTH AMERICA
6.4 HOOD RIVER DISTILLERS INC
6.5 JADE LIQUEURS LLC
6.6 LA CLANDESTINE
6.7 LA FÉE ABSINTHE
6.8 MILAN METELKA AS
6.9 PACIFIC DISTILLERY
6.10 PERNOD RICARD
6.11 PHILADELPHIA DISTILLING
6.12 TEICHENNÉ SA
6.13 OTHER KEY PLAYERS
Chapter 7: Global Absinthe Market By Region
7.1 Overview
7.2. North America Absinthe Market
7.2.1 Key Market Trends, Growth Factors and Opportunities
7.2.2 Top Key Companies
7.2.3 Historic and Forecasted Market Size by Segments
7.2.4 Historic and Forecasted Market Size By Type
7.2.4.1 Absinthe Blanche
7.2.4.2 Absinthe Amber
7.2.4.3 Absinthe Verte
7.2.4.4 Absinthe Ordinaire
7.2.4.5 Absinthe Reve Pastis
7.2.4.6 Absinthe Bohemian
7.2.4.7 Others
7.2.5 Historic and Forecasted Market Size By Application
7.2.5.1 Food & Beverage
7.2.5.2 Cosmetic
7.2.5.3 Medical
7.2.6 Historic and Forecast Market Size by Country
7.2.6.1 US
7.2.6.2 Canada
7.2.6.3 Mexico
7.3. Eastern Europe Absinthe Market
7.3.1 Key Market Trends, Growth Factors and Opportunities
7.3.2 Top Key Companies
7.3.3 Historic and Forecasted Market Size by Segments
7.3.4 Historic and Forecasted Market Size By Type
7.3.4.1 Absinthe Blanche
7.3.4.2 Absinthe Amber
7.3.4.3 Absinthe Verte
7.3.4.4 Absinthe Ordinaire
7.3.4.5 Absinthe Reve Pastis
7.3.4.6 Absinthe Bohemian
7.3.4.7 Others
7.3.5 Historic and Forecasted Market Size By Application
7.3.5.1 Food & Beverage
7.3.5.2 Cosmetic
7.3.5.3 Medical
7.3.6 Historic and Forecast Market Size by Country
7.3.6.1 Bulgaria
7.3.6.2 The Czech Republic
7.3.6.3 Hungary
7.3.6.4 Poland
7.3.6.5 Romania
7.3.6.6 Rest of Eastern Europe
7.4. Western Europe Absinthe Market
7.4.1 Key Market Trends, Growth Factors and Opportunities
7.4.2 Top Key Companies
7.4.3 Historic and Forecasted Market Size by Segments
7.4.4 Historic and Forecasted Market Size By Type
7.4.4.1 Absinthe Blanche
7.4.4.2 Absinthe Amber
7.4.4.3 Absinthe Verte
7.4.4.4 Absinthe Ordinaire
7.4.4.5 Absinthe Reve Pastis
7.4.4.6 Absinthe Bohemian
7.4.4.7 Others
7.4.5 Historic and Forecasted Market Size By Application
7.4.5.1 Food & Beverage
7.4.5.2 Cosmetic
7.4.5.3 Medical
7.4.6 Historic and Forecast Market Size by Country
7.4.6.1 Germany
7.4.6.2 UK
7.4.6.3 France
7.4.6.4 Netherlands
7.4.6.5 Italy
7.4.6.6 Russia
7.4.6.7 Spain
7.4.6.8 Rest of Western Europe
7.5. Asia Pacific Absinthe Market
7.5.1 Key Market Trends, Growth Factors and Opportunities
7.5.2 Top Key Companies
7.5.3 Historic and Forecasted Market Size by Segments
7.5.4 Historic and Forecasted Market Size By Type
7.5.4.1 Absinthe Blanche
7.5.4.2 Absinthe Amber
7.5.4.3 Absinthe Verte
7.5.4.4 Absinthe Ordinaire
7.5.4.5 Absinthe Reve Pastis
7.5.4.6 Absinthe Bohemian
7.5.4.7 Others
7.5.5 Historic and Forecasted Market Size By Application
7.5.5.1 Food & Beverage
7.5.5.2 Cosmetic
7.5.5.3 Medical
7.5.6 Historic and Forecast Market Size by Country
7.5.6.1 China
7.5.6.2 India
7.5.6.3 Japan
7.5.6.4 South Korea
7.5.6.5 Malaysia
7.5.6.6 Thailand
7.5.6.7 Vietnam
7.5.6.8 The Philippines
7.5.6.9 Australia
7.5.6.10 New Zealand
7.5.6.11 Rest of APAC
7.6. Middle East & Africa Absinthe Market
7.6.1 Key Market Trends, Growth Factors and Opportunities
7.6.2 Top Key Companies
7.6.3 Historic and Forecasted Market Size by Segments
7.6.4 Historic and Forecasted Market Size By Type
7.6.4.1 Absinthe Blanche
7.6.4.2 Absinthe Amber
7.6.4.3 Absinthe Verte
7.6.4.4 Absinthe Ordinaire
7.6.4.5 Absinthe Reve Pastis
7.6.4.6 Absinthe Bohemian
7.6.4.7 Others
7.6.5 Historic and Forecasted Market Size By Application
7.6.5.1 Food & Beverage
7.6.5.2 Cosmetic
7.6.5.3 Medical
7.6.6 Historic and Forecast Market Size by Country
7.6.6.1 Turkey
7.6.6.2 Bahrain
7.6.6.3 Kuwait
7.6.6.4 Saudi Arabia
7.6.6.5 Qatar
7.6.6.6 UAE
7.6.6.7 Israel
7.6.6.8 South Africa
7.7. South America Absinthe Market
7.7.1 Key Market Trends, Growth Factors and Opportunities
7.7.2 Top Key Companies
7.7.3 Historic and Forecasted Market Size by Segments
7.7.4 Historic and Forecasted Market Size By Type
7.7.4.1 Absinthe Blanche
7.7.4.2 Absinthe Amber
7.7.4.3 Absinthe Verte
7.7.4.4 Absinthe Ordinaire
7.7.4.5 Absinthe Reve Pastis
7.7.4.6 Absinthe Bohemian
7.7.4.7 Others
7.7.5 Historic and Forecasted Market Size By Application
7.7.5.1 Food & Beverage
7.7.5.2 Cosmetic
7.7.5.3 Medical
7.7.6 Historic and Forecast Market Size by Country
7.7.6.1 Brazil
7.7.6.2 Argentina
7.7.6.3 Rest of SA
Chapter 8 Analyst Viewpoint and Conclusion
8.1 Recommendations and Concluding Analysis
8.2 Potential Market Strategies
Chapter 9 Research Methodology
9.1 Research Process
9.2 Primary Research
9.3 Secondary Research
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Global Absinthe Market |
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Base Year: |
2023 |
Forecast Period: |
2024-2032 |
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Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 49.1 Bn. |
|
Forecast Period 2024-32 CAGR: |
3.2 % |
Market Size in 2032: |
USD 65.2 Bn. |
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Segments Covered: |
By Type |
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By Application |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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Frequently Asked Questions :
The forecast period in the Absinthe Market research report is 2024-2032.
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., and Other Major Players.
The Absinthe Market is segmented into type, application, and region. By type, the market is categorized into blanche, absinthe amber, absinthe verte, absinthe ordinaire, absinthe reve pastis, absinthe bohemian, and others. By application, the market is categorized into food and beverage, cosmetic, and medical. By region, it is analyzed across North America (U.S.; Canada; Mexico), Europe (Germany; U.K.; France; Italy; Russia; Spain, etc.), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).
Absinthe is another high-proof alcohol produced from herbs, with wormwood being its chief ingredient. Popular for its green hue, absinthe is traditionally produced by combining neutral alcohol with wormwood, anise and/or fennel seeds among other compounds. It was used extensively in the last part of the nineteenth and early twentieth centuries by artists and writers in Europe, owing to its supposed psychoactive properties derived from wormwood containing thujone. Current absinthe contains legal amounts of thujone and is usually mixed with water, resulting to a mixture that has a rich, herby taste.
Absinthe Market Size Was Valued at USD 49.1 Billion in 2023, and is Projected to Reach USD 65.2 Billion by 2032, Growing at a CAGR of 3.2% From 2024-2032.
