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The global absinthe market size reached US$ 45.60 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 54.62 Billion by 2028, exhibiting a growth rate (CAGR) of around 3% during 2023-2028.
Absinthe is a bitter-tasting, highly aromatic, and yellowish-green spirit distilled from grape alcohol, grains, potatoes, beets, and fresh herbs. It is predominantly flavored by wormwood and other botanicals, such as anise, fennel, hyssop, licorice, and angelica roots. Absinthe is bottled at a very high alcohol concentration, but when served, it is diluted with water and ice and used to flavor mixed drinks. It provides anti-tumor and anti-inflammatory properties and helps boost immunity and fight infections. It assists in diabetes management, stimulating appetite, and preventing blood clots, heart diseases, and cancer. As a result, absinthe finds extensive applications across the food and beverage (F&B), cosmetics, and medical industries.
Significant growth in the F&B industry across the globe is creating a positive outlook for the market. Absinthe is widely used to enhance taste, prevent bacterial growth, and add flavors to sauces, desserts, and confectionery products. In line with this, the increasing consumption of absinthe at hotels, bars, and restaurants as a cocktail drink or in combination with wine, vermouth, gin, grapefruit juice, orange flower water, blackberries, or grenadine is favoring the market growth. Additionally, the rising product demand for garnishing food products, such as red meat, fish, and curries, is acting as another growth-inducing factor. Apart from this, the widespread product utilization in alternative medicine applications due to the presence of wormwood to reduce inflammation, improve digestive health, alleviate pain, remove harmful parasites, minimize osteoarthritis, and treat nausea, stomach cramps, and liver diseases is propelling the market growth. Moreover, the introduction of additional flavors by manufacturers, coupled with the increasing demand for exotic and premium alcoholic products, is providing an impetus to the market growth. Other factors, including rising expenditure capacities of consumers and increasing product demand among artists, painters, musicians, and guitarists, are anticipated to drive the market growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the global absinthe market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type and application.
Breakup by Type:
Breakup by Application:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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 and Teichenné S.A. Kindly, note that this only represents a partial list of companies, and the complete list has been provided in the report.
|Base Year of the Analysis||2022|
|Segment Coverage||Type, Application, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||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 and Teichenné S.A.|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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