Liqueurs market to reach $167B by 2031

By AI, Created 1:46 PM UTC, June 04, 2026, /AGP/ – The global liqueurs market is projected to grow from $118.0 billion in 2021 to $167.0 billion by 2031, driven by rising disposable income, urbanization and growing demand from younger drinkers. Asia-Pacific is expected to post the fastest growth as premium, flavored and socially promoted products gain traction.

Why it matters: - The liqueurs market is on a steady growth path, with demand rising in developing regions and among younger consumers. - Rising incomes, urbanization and premiumization are reshaping what drinkers buy and how brands market liqueurs. - The market opportunity extends across packaging, distribution and product innovation as brands compete for share.

What happened: - The global liqueurs market was valued at $118,040.5 million in 2021. - The market is projected to reach $166,966.8 million by 2031. - The forecast period calls for a 3.4% CAGR from 2022 to 2031. - Allied Market Research released the outlook covering type, packaging, distribution channel and region. - Download the sample report.

The details: - Asia-Pacific is driving much of the demand growth because of higher liqueur consumption, rising income levels and urbanization. - Young, aspirational consumers in Europe and North America are shifting toward newer and more modern liqueur offerings. - Consumers are showing more interest in sophisticated, moderated and premium beverages. - Product innovation in taste, flavors and packaging is supporting category growth. - Increased consumption at parties is adding another demand driver. - Emerging markets such as China, Canada and Germany are expected to present additional opportunities during the forecast period. - Social media promotion has become a major marketing tool for manufacturers. - COVID-19 disrupted production and sales in 2020 as lockdowns and curfews slowed domestic and international operations. - The report says the pandemic reduced company sales and halted operations. - Asia-Pacific, followed by Europe and North America, held nearly two-fifths of the global market in 2021. - Asia-Pacific is projected to grow at the fastest pace, with a 4.6% CAGR.

Between the lines: - The growth story is less about a single trend and more about a mix of premiumization, younger consumers and digital marketing. - The fastest-growing regions are also the ones where lifestyle shifts and social influence appear to matter most. - The competitive field is broad, which suggests brands will need constant product and channel innovation to hold share. - Major players are using agreements, product launches, expansions and mergers to stay competitive.

What’s next: - Brands are likely to keep targeting millennials and Gen Z with premium products and social-first marketing. - Expansion in Asia-Pacific and other emerging markets should remain a priority for market participants. - The report’s competitive landscape points to continued dealmaking and product launches across the category. - Key profiled companies include Bacardi Limited, Beam Suntory Inc., Brown-Forman Corporation, Diageo Plc, Davide Campari-Milano S.p.A., GirolamoLuxardoS.p.A, Lucas Bols B.V., Mast-Jägermeister SE, PernodRicard SA and Remy Cointreau. - Other value-chain players include DeKuyper Royal Distillers, E. & J. Gallo Winery, Peel Liqueur, Sazerac Company, Stock Spirits Group, The Drambuie Liqueur, Terra Ltd. and CL World Brands Limited. - Purchase inquiry