Global Absinthe Market was valued at US$ 34.2 Bn in 2019 and is expected to grow at 3.4% to reach at US$ 44.6 Bn in forecast period.
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Global Absinthe market Overview:
Absinthe is a distilled, highly alcoholic beverage, which contains about 45- 74 % alcohol by volume. Naturally it has green color but it may be colorless. Traditional absinthe is made of anise, fennel and wormwood (a plant). Anise is responsible for the impressive taste and Wormwood is an herbal plant that gives absinthe its unique character. Absinthe is diluted with water while consuming due to its highly alcoholic nature.Absinthe had been banned in United States and in Europe and was blamed for its alleged harmful effects. By the time modern European Union food and beverage laws were adopted and revival of absinthe began.
Substantial increase in its popularity and consumption is registered after its ban revoked in US. In 2007, the French brand Lucid became the first genuine absinthe to receive a Certificate of Label Approval (COLA) for import into the United States.
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The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Global Absinthe market Dynamics:
Earlier in 21st century, about 200 brands of absinthe were being produced in several countries, most notably in France, Switzerland, Austria, Germany, Netherlands, Spain, and the Czech Republic. Although Absinthe is not been certified for used as a medicine limited prescribed absinthe may help in betterment of metabolism system. The wormwood helps in keeping the body and mind fresh for a long time.
The key factors like medicinal benefits for digestive tracts, stomach acid and digestive enzyme production will have a positive outlook on the global absinthe market. Rise in people consuming absinthe after its ban revoked and increase in disposable income is expected to drive the market growth. However ban of alcohols in some countries, mental instability rumors and perception regarding adverse effect of absinthe may hamper the market growth. On the contrary the market has seen many lucrative opportunities in the near future with rise in demand from writers, artists, painters, musicians, and guitarists.
Global Absinthe market, Segmentation Analysis:
By application, the food & beverage is the most prominent segment accounting for maximum share in the global market. This can be attributed to the increase in demand for new flavors developed by the players. However, the cosmetic segment is expected to witness notable growth, with a CAGR of 4.6% from 2019 to 2026. Absinthe Market, expected to grow parallel to alcoholic beverages market.
North America would exhibit the highest CAGR of 4.4% during 2019-2027.
Adoption of new products introduced in the absinthe market among consumers and acquisition is the key strategy to improve profitability by the key players in the region. This region has built a unique portfolio of premium brands on an international scale. The key players present in the region are creating value through a systematic policy of brand upscaling. The healthy economic growth of the region maintained high disposable income. The increasing consumption of absinthe by the artists in the region is also driving the market in the region.
A shift towards mindful drinking and people experimenting with being “sober-curious”, and increasing per capita income are also contributing substantially to the growth of the market in the region.
The objective of the report is to present a comprehensive analysis of Global Absinthe market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market are presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Absinthe market dynamics, structure by analyzing the market segments and project the Global Absinthe market size. Clear representation of competitive analysis of key players by Type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Absinthe market make the report investor’s guide.
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Global Absinthe Market, By Type
• Absinthe Blanche
• Absinthe Amber
• Absinthe Verte
• Absinthe Ordinaire
• Absinthe Reve Pastis
• Absinthe Bohemian
• Absinthe Liqueur
• Premium Absinthe
Global Absinthe Market, By Application
• Food And Beverage Industry
• Cosmetic Industry
• Medical Industry
Global Absinthe Market, by Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Global Absinthe Market, key players
• Pacific Distillery
• Duplais Verte
• Teichenne, S.A.
• Kübler Absinthe Superieure
• La Fée Absinthe
• La Clandestine
• Hill’s Liquere North America
• Butterfly absinthe
• Doubs Mystique
• Milan METELKA a.s.
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