Absinthe Market Analysis, Size, Share, Growth, Trends, and Forecast by 2031

The absinthe market is expected to register a CAGR of 4% during 2023 – 2031. The absinthe market is growing due to increasing consumer awareness of its digestive benefits.

Absinthe Market Analysis

• Absinthe is a liquor containing more than 50% of alcohol by volume. The absinthe market is showing positive growth, driven by increasing number of alcohol consumption, cultural revival – interest in cocktails and vintage spirits, incorporation into bars and restaurants, awareness of its historical significance.
• Tourism has also led to the rise of this market due the experiential consumption.
• Absinthe market also faces few challenges such as, intense competition within the spirits industry, mainly from other premium and crafts spirits, limited distribution channels and lower shelf life, crowded alcohol and beverage marketplace.
• Major market players are focused on strategic developments such as joint ventures, partnerships, product launches, innovations and collaborations to meet growing consumer demands and expand their geographical presence.

Absinthe Market Overview

• The absinthe market is growing due to various drivers which includes the consumers’ transition towards premium alcoholic beverages - a shift found in Asia Pacific region, rise of craft beers, artisanal spirits.
• The rise is also due to growing awareness of environmental sustainability, thereby preferring organic and biodynamic wines. The growth can also be seen due to the rising disposable income in the emerging markets i.e., Asia Pacific region.
• Recent developments include the Key market players are involved in product innovation related to extending the shelf life, ensuring prolonged preservation of product.
• Recent developments in the absinthe market includes the increasing use of e-commerce a digital marketing to help boost the sales, promotion of absinthe through themed events, festivals, and tastings leading towards the absinthe’s popularity, and the growth of craft distilleries

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Absinthe Market: Strategic Insights

Absinthe Market

• Market Size 2023
  US$ XX Million
• Market Size 2031
  US$ XX Million

Market Dynamics

GROWTH DRIVERS

• Growing Awareness of Medicinal Benefits to Favor Market
• Increasing Consumption of Alcohol

FUTURE TRENDS

• Supply Chain Optimization

OPPORTUNITIES

• Rising Preference for Organic Products

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Category

• Flavored
• Conventional

Distribution Channel

• Supermarkets and Hypermarkets
• Convenience Stores
• Online Retail

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Absinthe Market Drivers and Opportunities

Consumer Preferences for Artisanal Spirits to Favor the Market

Key driver fuelling the absinthe market growth includes, renewed interest in historical and artisanal spirits, growth in craft cocktails and mixology, absinthe-focused bars and tourism experiences, increased exposure and interest of people from different ethnicities, emerging trends towards natural and herbal products. As per the Distilled Spirits Council of The United States report published in Feb-2024, the US spirits exports totalled 42.2 billion in 2023 an increase by 8% compared to last year and for American Spirits the records showed exports being totalled to US$ 1.4 billion an increase of 9% from 2022. Overall, these factors are ramping up the global absinthe market and are likely to continue doing so in coming times.

Increasing Demand for Organic Absinthe

The market holds considerable opportunities such as, increasing demand for organic absinthe, owing to the rising consumer preference for organic products. In recent years, the organic sector of the US food industry has been the fastest-growing sector of the food industry, growing at double-digit rates annually, and surpassing the growth rate of overall food sales, according to the Organic Trade Association. The increasing demand for organic products from consumers offers the opportunity for manufacturers to launch organic absinthe.

Absinthe Market Segmentation Analysis

Key segments that contributed to the derivation of the absinthe market analysis are category, and distribution channel.

• Based on category, the absinthe market is divided into flavored, and conventional.
• On the basis of distribution channel, the market is divided into supermarkets and hypermarkets, specialty stores, online retail, and others.

Absinthe Market Share Analysis by Geography 

• Absinthe Market Report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia Pacific, Middle East & Africa, and South and Central America.
• Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering absinthe market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
• Also, the report covers Porter’s Five Forces analysis, which involves the study of major factors that influence the absinthe market in these regions.

Absinthe Market Market Report Scope

Absinthe Market News and Recent Developments

The absinthe market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the absinthe market are listed below:

• Pernod Ricard partners with EcoSPIRITS for global expansion of circular spirits distribution. (Source: Pernod Ricard, Press Release, 28th May, 2024)
• Absinthia’s Bottled Spirits Unveils Absinthia Absinthe Bleue - a spirit that redefines Absinthe sophistication. (Source: Absinthia's Bottled Spirits, Press Release, 16th January, 2024)
• La Fée Absinthe Supérieure, expand Distribution Partners 2023 across Caribbean, Ireland & Japan. (Source: La Fée LLP, Press Release, 1st June, 2023)

Absinthe Market Report Coverage and Deliverables

The “Absinthe Market Size and Forecast (2021 – 2031)” provides a detailed analysis of the market covering below areas:

• Absinthe market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Absinthe market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed Porter’s Five Forces and SWOT analysis
• Absinthe market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the absinthe market
• Detailed company profiles