Absinthe Global Market Report 2024

Absinthe is a flavored spirit crafted from various plants, including the leaves and flowers of artemisia absinthium, combined with other aromatic ingredients. It is produced using high-alcohol spirits, typically with an alcohol content of 68% by volume. Absinthe is commonly consumed by diluting it with water and is often used to add flavor to mixed drinks.

The main types of absinthes include absinthe verte, absinthe ordinaire, absinthe reve pastis, absinthe bohemian, absinthe amber, and absinthe blanche. Absinthe verte is made from natural ingredients such as cocoa, grand warmwood, star anise, fennel, peppermint, and vanilla. Absinthe is typically distributed through both online and offline channels. Its major applications can be found in the medical industry, food and beverage industry, and the cosmetic industry.

The absinthe market research report is one of a series of new reports that provides absinthe market statistics, including absinthe industry global market size, regional shares, competitors with absinthe market share, detailed absinthe market segments, market trends and opportunities, and any further data you may need to thrive in the absinthe industry. This absinthe market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The absinthe market size has grown steadily in recent years. It will grow from $34.71 billion in 2023 to $35.75 billion in 2024 at a compound annual growth rate (CAGR) of 3.0%. The growth observed during the historical period can be attributed to factors such as the influence of cultural heritage, artistic inspirations, legal regulations, a resurgence of craftsmanship, and the flourishing cocktail culture.

The absinthe market size is expected to see steady growth in the next few years. It will grow to $40.2 billion in 2028 at a compound annual growth rate (CAGR) of 3.0%. The anticipated growth in the forecast period can be attributed to the rise of craft distilleries, the influence of cultural tourism, the momentum of the craft cocktail movement, global expansion efforts, and the impact of revised regulations. Notable trends expected in this forecast period encompass the emergence of absinthe lounges and bars, the creation of innovative cocktails, the prominence of heritage brands, the development of absinthe tourism, and the continuation of the green hour tradition.

The growing consumption of alcohol and other beverages is set to drive the expansion of the absinthe market. Global consumers are increasingly indulging in alcoholic products and beverages. For instance, a study published in January 2022 by The Harvard Gazette, the official news website of Harvard University, reported that researchers recreated the drinking patterns and trends of liver disease in the entire U.S. population using data from a national survey of U.S. adults, revealing that excessive drinking, including binge drinking, increased by 21% during the COVID-19 pandemic. Consequently, the rising alcohol and beverage consumption significantly fuels the growth of the absinthe market.

The burgeoning tourism industry is also expected to be a major driver of the absinthe market's growth. The tourism industry, encompassing all activities, services, and businesses related to the movement of people for leisure, recreation, or business purposes, has an inherent attraction to absinthe as a unique and culturally rich beverage. For instance, according to the World Tourism Organization, a specialized agency based in Spain, international tourist receipts exceeded USD 1 trillion in 2022, marking a 50% increase in real terms from 2021. This robust growth in the tourism industry substantially contributes to the expansion of the absinthe market.

Prominent companies operating in the absinthe market are actively engaged in product innovation, exemplified by offerings like Australian Absinthe, to provide customers with reliable and distinctive experiences. Australian Absinthe is crafted with a complex flavor profile characterized by both bitter and sweet notes, with hints of anise, fennel, and other herbs. For instance, in May 2022, Never Never Distilling Co., an Australia-based alcohol company, introduced Australian Absinthe. This particular type of absinthe is meticulously produced using a unique blend of traditional botanicals, steeped in high-proof alcohol like vodka or grain alcohol for several days or weeks. It delivers a smooth, velvety texture and a long-lasting finish, enhancing the array of options available in the absinthe market.

Top firms within the absinthe market are driving innovation by introducing new products like the Absinthia Barrel Aged Absinthe, aiming to enhance their market position and profitability. This unique creation is composed of Artemisia absinthium (great wormwood), organic artemisia absinthium, neutral grape distillate, anise, fennel, and coriander. For example, in February 2022, Absinthia Bottled Spirits LLC., a US-based organic, small-batch absinthe, and craft mixers company, launched the Absinthia Barrel Aged Absinthe. Renowned for its subtle and sophisticated flavor profile, this variant is perfect for savoring independently. Through the barrel aging process, it acquires delightful undertones of sweet honey, caramel, and vanilla, making it an ideal spirit for sipping.

In a strategic move, Pernod Ricard, a major player in absinthe production based in Paris, completed the acquisition of the prominent online spirits retailer, The Whisky Exchange, in September 2021, for an undisclosed amount. This acquisition aligns with Pernod Ricard's strategy to cater to consumer expectations and needs amidst robust e-commerce growth and a rising demand for premium products. Pernod Ricard intends to leverage synergies between The Whisky Exchange's expertise and its in-house platforms such as Bodeboca and Drinks&Co. The Whisky Exchange, a France-based specialist drink retailer, stands as a valuable addition to Pernod Ricard's portfolio.

Major companies operating in the absinthe market include Pacific Distillery LLC, Teichene SA, Metelka AS, Mansinthe, Philadelphia Distilling Company, Pernod Ricard SA, St. George Spirits, Leopold Bros., Green Moon Ltd., La Muse Verte, Philippe II Duke of Orléans, La Grenouille Bleue Ltd., Absinthe La Fee, Lucid Absinthe, Kübler Absinthe Superieure, St. George Absinthe Verte, La Clandestine Absinthe, Jade Liqueurs LLC, Butterfly Absinthe, Vieux Carré Absinthe, Ridge Distillery Absinthe, La Maison Fontaine, Hills Absinth, François Guy Absinthe, Mata Hari Absinthe, Absinthe Duplais Verte, Corsair Distillery, Dan Murphy's, Copper & Kings American Brandy Company

Europe was the largest region in the absinthe market in 2023. North America is expected to be the fastest-growing region in the absinthe market share during the forecast period. The regions covered in the absinthe market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the Absinthe market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The absinthe market consists of sales of absinthe verte, absinthe ordinaire, absinthe reve pastis, absinthe bohemian, absinthe amber, and absinthe blanche, and other absinthe. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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