The global citrus alcohol market is expected to reach a market valuation of USD 1,272 million in 2023. The market is anticipated to accelerate with a CAGR of 7.9% during the forecast period. By 2033, the valuation is projected to cross USD 2,276.9 million.
Key factors that may surge the market growth are:
Over the years, craft spirits have carved a niche for their taste, owing to their unique taste and flavor. Small-scale, independent, and traditional brewing firms are brewing their category of craft spirits in diverse and innovative fruit flavors. Similarly, brands such as Corona, Bud, and Miller Lite., among others, which already have prominent product lines in the citrus alcoholic drinks market, are also jumping onto the bandwagon to brew and distill novel craft spirits.
Although brewing innovative flavors using traditional methods is relatively new, the trend is gaining momentum and is expected to become a standard process across breweries. Along similar lines, the right pricing range has been identified as a key citrus alcohol market growth strategy among manufacturers by influencing the consumers’ purchase patterns.
Increased demand for citrus alcohol beverages can be attributed to the growing popularity of craft beer and spirits. This, in turn, is driving growth in the international citrus extract alcohol content market.
During the projected period, the global citrus alcohol market is expected to grow due to rising alcohol consumption and the need for healthier alcoholic beverages. During the predicted time period, the citrus alcohol market is expected to be impeded by the high degree of volatility in citrus fruit prices.
The global citrus alcoholic beverages market can be broken down into submarkets for beer, wine, spirits, and others based on the many types of citrus-based alcoholic beverages available.
The global demand for citrus alcohol is dominated by the spirits category. This pattern is expected to maintain over the projected time frame and open new opportunities for growth.
North America is expected to be the dominant market. The presence of key players, coupled with high disposable income of people residing in the region makes North America a significant. Moreover, consuming alcohol is almost a necessity as the region witnesses sub-zero temperatures during winters.
| Attributes | Value |
|---|---|
| Citrus Alcohol Market Value (2022) | USD 1,200 million |
| Citrus Alcohol Market Expected Value (2023) | USD 1,272 million |
| Citrus Alcohol Market Forecast Value (2033) | USD 2,276.9 million |
| Citrus Alcohol Market Expected CAGR (2023 to 2033) | 7.9% |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
Apart from being a party drink, people across world have started consuming citrus alcohol owing to its health benefits. The heart patients in general are advised not to consume alcohols. But studies suggest that the consumption of citrus alcohol helps to boost the heart health. This has led to an increase in the sales of citrus alcohol. While the historical CAGR for the market was 6%, the expected CAGR for the market is 7.9%.
Short-term (2023 to 2026): Citrus, due to its flavor and high acidity, has become an essential component of alcoholic beverages and is used to provide balance in cocktails. Similarly, citrus liquor is used in alcohol production and live sales counters as a base and flavoring agent.
Medium-term (2026 to 2029): Citrus liquors, which come in a variety of flavors such as orange, lemon, mandarin, and grapefruit, are used to enhance the flavor profiles of spirits such as rum and gin. The global citrus flavoured alcoholic drinks market has seen significant gains and a positive outlook.
Long-term (2029 to 2033): The growing popularity of craft spirits and less expensive ingredients are driving up demand for citrus alcohol. Similarly, rising disposable income, particularly in emerging economies, and subsequent spending on leisure and drinking are expected to boost the citrus alcohol market growth.
| Region | North America |
|---|---|
| Country | United States |
| Expected CAGR (2023 to 2033) | 4.4% |
| Region | Europe |
|---|---|
| Country | Germany |
| Expected CAGR (2023 to 2033) | 7% |
| Region | Europe |
|---|---|
| Country | United Kingdom |
| Expected CAGR (2023 to 2033) | 6.4% |
| Region | Europe |
|---|---|
| Country | Spain |
| Expected CAGR (2023 to 2033) | 5.4% |
| Region | Asia Pacific |
|---|---|
| Country | China |
| Expected CAGR (2023 to 2033) | 4.7% |
Throughout the assessment period, the United States is anticipated to remain a prominent country in terms of sales of citrus alcohol. Like the regions, growing disposable incomes and alcohol being an integral part of the country's social culture drive the demand for citrus alcohol.
The United States is one of the world's significant beer producers.
| Attributes | Details |
|---|---|
| United States Market Expected Size (2033) | USD 512.3 million |
| United States Market Absolute Dollar Growth (USD Million/Billion) | USD 179.3 million |
| CAGR % 2017 to 2022 | 3% |
Similarly, the country is one of the major consumers of beer and other alcoholic beverages due to the cool climatic conditions. Citrus alcohol is likely to continue to be in high demand in the coming years, as the demand for innovative flavors remains high.
China is set to remain one of the key markets, accounting for more than one-third of the global market value. The reason for this is rapid urbanization. The country's citrus alcohol market is also being bolstered by the increasing penetration of foreign liquor brands.
| Attributes | Details |
|---|---|
| China Market Expected Size (2033) | USD 362.02 million |
| China Market Absolute Dollar Growth (USD Million/Billion) | USD 133.95 million |
| CAGR % 2017 to 2022 | 3.8% |
China has been witnessing an increase in the number of cancer cases. The country has also been reporting cases pertaining to kidney stones. The consumption of citrus alcohol aids in avoiding kidney stones and also drastically reduces the chances of developing cancer.
| Attributes | Details |
|---|---|
| Germany Market Expected Size (2033) | USD 182.15 million |
| Germany Market Absolute Dollar Growth (USD Million/Billion) | USD 89.25 million |
| CAGR % 2017 to 2022 | 5.7% |
| Attributes | Details |
|---|---|
| Spain Market Expected Size (2033) | USD 77.41 million |
| Spain Market Absolute Dollar Growth (USD Million/Billion) | USD 31.74 million |
| CAGR % 2017 to 2022 | 4.2% |
| Attributes | Details |
|---|---|
| United Kingdom Market Expected Size (2033) | USD 136.61 million |
| United Kingdom Market Absolute Dollar Growth (USD Million/Billion) | USD 62.84 million |
| CAGR % 2017 to 2022 | 5% |
Principal Consultant
| Segment | Product Type |
|---|---|
| Attributes | Spirit |
| CAGR (2017 to 2022) | 4.8% |
| CAGR (2023 to 2033) | 6% |
| Segment | End User |
|---|---|
| Attributes | Specialty Stores |
| CAGR (2017 to 2022) | 5.8% |
| CAGR (2023 to 2033) | 7.1% |
By product type, spirits are expected to continue to be highly sought-after product, accounting for more than half of the total citrus alcohol market value. At the same time, the beer is likely to experience tremendous value growth during the forecasted period.
Glass bottles are expected to continue to be quite popular citrus liquors packaging type. The segment accounted for slightly less than half of the citrus alcohol market value in 2021 and is expected to remain a highly profitable segment throughout the forecast period.
According to the sales channel, specialty stores are expected to account for the majority of citrus alcohol market revenue. Due to the increasing number of footfalls around the world, the segment accounted for more than a quarter of market value in 2021. The segment might continue being highly significant throughout the forecast period.
The new players operating in the market are offering low-calorie non-alcoholic drinks in almost all popular flavors. Key products include Margarita, Blood Mary, Mango Chilli Mojito, etc. They are also tying up with food ordering and online delivery platform to increase the scope of the market.
Raskik: Raskik is a millennial centric brand that offers a portfolio of unique natural fusion beverages at mainstream prices. The start-up has been taking measures to create a vibrant brand. Raskik has been taking measures to create a highly capable ecosystem of partners, where it would be delighting its customers with great quality and innovative beverages. In November 2020, Raskik raised USD 1,000,000 from 9Unicorns Accelerator Fund.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
The manufacturers are exceeding their targets towards a zero-carbon footprint and zero water waste, delivering concrete results for the business and society. The intention is to build on the strong progress made with new targets and actions towards 2030 and 2040. In February 2023, Carlsberg group concluded Together Towards ZERO programme, exceeding targets on Carbon and water.
Key developments in the market:
| Company | Carlsberg |
|---|---|
| Description | Carlsberg has always focused on today and tomorrow. It motivates and inspires the company to deliver on its combinations and commitments to society. Carlsberg has been contributing to make society better for the future by making brewing more sustainable by making use of science to find new innovative solutions. The purpose has been guiding everything that the company has been doing, which is pursuit for perfection through action, and high focus on research and development. |
| Company | Diageo |
|---|---|
| Description | Diageo has been providing its products in more than 180 countries. The ambition has always been to be the best performing, most trusted, and respected consumer products in the world. Diageo has been building and nurturing some of the world’s most iconic brands, rooted in cultural and local communities, which is why the company has always focused on creating an inclusive, sustainable business in its widest sense. |
| Company | The Coca Cola Company |
|---|---|
| Description | The Coca Cola Company owns a global business that operates on a local scale in every community. The system operates through multiple local channels. The primary way that the manufactured products reach the marketplace starts with Coca Cola, which manufactures and sells concentrates, beverage bases, and syrups to bottling operations. Coca-Cola also owns the brands and is responsible for consumer brand marketing initiatives. The Coca-Cola bottler partners manufacture, package, merchandise, and distribute final branded beverages to its customers and vending partners, who sell the products to the customers. |
Other key players profiled: Asahi Group Holdings Ltd., Suntory Holdings Ltd., Bacardi Ltd., Brown Forman Corporation.
Switching gears and thinking in terms of services rather than goods.
Brands of alcoholic beverages are trying to convince consumers of the necessity and value of their products. Understanding their requirements before worrying about how to increase the sales of the product is crucial.
This can help to avoid expanding too quickly and diluting the brand's core values. Keeping the product useful in the daily lives of customers is essential. Absolut Juice, a premium offering from Pernod Ricard USA that combines vodka with juice and natural flavors, has an alcohol by volume (ABV) of 35. A new product was introduced to meet the evolving needs of Generation Z buyers. This development catered to the rising popularity of brunches and afternoon barbecues.
Making sure the brand's story has a "Purpose"
Shared value has replaced the concept of shareholders. Customers care about how brands are contributing to solving global problems.
For instance, by the end of 2020 in the United Kingdom, Budweiser plans to have brewed all its products using only renewable electricity. It's a big plan, but the company is ensuring all its supply chain connects to make it a reality. It has also begun working with renewable electricity provider Opus Energy to provide its stocking pubs with a special renewable energy price.
Devising niche-specific remedies
Constantly releasing new product variations might confuse customers and distract the market's overall direction. The biggest question that the companies are dealing with is how to implement segmentation on a massive scale.
Premiumization is one possible answer. Premium alcohol brands nonetheless provide accessible opulence even as the economy stutters. Beers, wines, and spirits may all cue coffee's success in creating a distinct category. For premiumization strategies, the alcoholic beverage industry can learn much from its mass-connoisseurship. A dedicated following of coffee drinkers may gladly pay twice as much at their neighborhood coffee shop for a cup of pour-over coffee. They typically spend more than twice as much on specialty, single-origin, whole-bean coffees in their home brewers.
Prompting truly game-changing alcohol brand innovation
Brands of alcoholic beverages in the modern day need the ability to adapt quickly to market changes. Keeping an eye out for ways to improve the customer experience at every stage.
There has been a noticeable trend in the alcoholic beverage industry to lower the amount of sugar used in their products. Low-calorie and sugar-free wines are one recent development. Consumers who care about their health have prompted this change.
FitVine is one such brand, as it aims to appeal to people searching for wines with minimal amounts of sugar, carbohydrates, and calories. The alcohol-free Erdinger brand, meanwhile, may be promoted as nutritious because it is fortified with B vitamins, folate, and polyphenols. A health-conscious audience maight appreciate this message because it clearly addresses common misconceptions about alcohol.
Always keeping the lines of communication open with customers.
Consumers play a crucial role in every company's value development. Experimenting with diverse strategies for fostering relationships with the target demographic remains essential.
When it comes to getting the products, how simple is it for customers to do so? If clients visit the company's website, can they easily locate local businesses that offer home delivery? How integral is the integration of subscription services into the company's marketing process?
The citrus alcohol market is forecast to register a CAGR of 7.9% through 2033.
The citrus alcohol market is valued to hit USD 2,276.9 million by 2033.
The global market advanced at a 6% CAGR from 2018 to 2022.
The market is estimated to secure a valuation of USD 1,272 million in 2023.
From 2023 to 2033, spirits sales may thrive at a 6% CAGR, by product type.
From 2023 to 2033, the United States market to accelerate at a 4.4% CAGR.
1. Executive Summary | Citrus Alcohol Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Beer 5.2. Spirits 5.3. Wine 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Packaging Type 6.1. Glass Bottles 6.2. Cans 6.3. Plastic Bottles 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Citrus Fruit 7.1. Lemon 7.2. Lime 7.3. Orange 7.4. Grapefruit 7.5. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-User 8.1. Specialty Stores 8.2. Hotel/Restaurants/Bars 8.3. Convenience Stores 8.4. Online Retailers 8.5. Modern Trade 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 9.1. North America 9.2. Latin America 9.3. Europe 9.4. Asia Pacific 9.5. MEA 10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Carlsberg A/S 17.2. Diageo PLC 17.3. Asahi Group Holdings Ltd. 17.4. Suntory Holdings Ltd. 17.5. Halewood International Holdings PLC 17.6. Brown-Forman Corporation 17.7. Bacardi Ltd. 17.8. Anheuser-Busch InBev SA/NV 17.9. The Coca-Cola Company 17.10. The BOSTON BEER COMPANY 18. Assumptions & Acronyms Used 19. Research Methodology
Explore Food and Beverage Insights
View Reports
Citrus Alcohol Market
