Absinthe Market

Market Overview:

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.

Absinthe Market Trends:

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.

Key Market Segmentation:

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:

• 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
   

Competitive Landscape:

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.

Report Coverage:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the absinthe market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global absinthe market.
• The study maps the leading as well as the fastest growing regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the absinthe industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and  provides an insight into the current positions of key players in the market.