This rise, a CAGR of 4.6% from 2023 to 2032, is pushed by “shifting client preferences, notably amongst millennials and Era Z, who search distinctive beverage experiences with flavours offering novelty and pleasure,” the corporate stated in a press release.
The demand for numerous choices is fuelling market growth as producers introduce new flavours, nonetheless restrictions on particular components as a consequence of well being considerations, labelling requirements and age verification processes affect product availability and advertising and marketing efforts, which can affect future development of the flavoured alcohol market development, the report discovered.
The report additionally discovered that RTD cocktails and pre-mixed drinks “current a considerable alternative for development and market growth”.
The whiskey sub-segment and the pineapple sub-segment of the worldwide flavoured alcohol market accounted for the biggest shares of 26.4% and 24.9% in 2022, respectively, projected to proceed dominance for whisky and see substantial development for pineapple by 2032.
This dominance for whisky is attributed to a number of key drivers, together with ongoing improvements in merchandise, that includes numerous flavours and enhanced product high quality. International producers have elevated investments in whisky product analysis and growth, selling whisky as a protein supply with improved digestibility, together with the affordability of whisky for the worldwide middle-class inhabitants, the report discovered.
Pineapple’s development is especially as a consequence of its tropical and fruity profile which holds vast client attraction, making it a favoured selection for flavoured alcoholic drinks.
The flavoured alcohol market in Europe accounted for the best share of 33.6% in 2022, anticipated to develop considerably in the course of the forecast interval. The dominance of the area could be attributed to the “growing curiosity from millennials in craft beers, characterised by a want for contemporary and revolutionary tastes”, the corporate stated.
