The global alcohol gummies market was valued at $10.9 million in 2021, and is projected to reach $16.3 million by 2031, growing at a CAGR of 4.3% from 2022 to 2031.Most frequently, vodka, whiskey, tequila, rum, and gin are used to dip alcohol gummies. The gummies come in a variety of flavors and are intended to be consumed as a party game or to get intoxicated. The alcohol gummies market is analyzed on the basis of type, nature, distribution channel, and region. By type, the market is divided into spirit gummies and cocktail gummies. Further, the spirit gummies segment is divided into whiskey, rum, vodka, and others. By nature, the market is divided into alcohol infused and alcohol flavored. By distribution channel, it is classified into online and offline. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Portugal, Georgia, and the rest of Europe), Asia-Pacific (India, Australia, and the rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
Europe dominates the global market for alcohol gummies due to increased demand for alcohol candies in many nations. The market for alcohol gummies is projected to expand in the region during the forecast period as a result of the rise in consumption of these products due to their tastes, availability in a variety of flavors, and culture of regular consumption. Asia-Pacific is predicted to experience considerable growth in the alcohol gummies market due to the increase in awareness. The market for alcohol gummies is also expected to develop in the region over the next few years due to a change in consumer preferences for consuming alcoholic beverages in confectionery.
The impact of the COVID-19 outbreak was negative on the growth of the global alcohol gummies market. The trade restrictions and lockdown resulted in the halting of production and manufacturing units. Conversely, the recovery of the alcohol gummies market is expected in near future.
Alcoholic gummies are becoming increasingly popular among consumers, which has forced manufacturers to use a wide range of strategies to develop the best possible products. For instance, Smith & Sinclair, a well-known disruptor in the food and beverage industry, obtained a multi-million-dollar investment in October 2018 to support its unique research and market expansion internationally. The London-based company that invented the original alcoholic cocktail gummies, allowing consumers to consume alcohol in new ways, has also got a $26 million investment from the American investment fund disruptive capital.
The key players operating in the alcohol gummies market have adopted product launch and business expansion as its key strategies to expand their market share, increase profitability, and remain competitive in the market. The major players operating in the global alcohol gummies market are Arewa Treats, Maggie Lyon Chocolatiers, Kate & Belle, The Candy Store, Sugarfina USA LLC, SugarSin, Inebriated Baker, Lolli & Pops, Smith & Sinclair US, and Squish Candies.
Europe dominates the global market for alcohol gummies due to increased demand for alcohol candies in many nations. The market for alcohol gummies is projected to expand in the region during the forecast period as a result of the rise in consumption of these products due to their tastes, availability in a variety of flavors, and culture of regular consumption. Asia-Pacific is predicted to experience considerable growth in the alcohol gummies market due to the increase in awareness. The market for alcohol gummies is also expected to develop in the region over the next few years due to a change in consumer preferences for consuming alcoholic beverages in confectionery.
The impact of the COVID-19 outbreak was negative on the growth of the global alcohol gummies market. The trade restrictions and lockdown resulted in the halting of production and manufacturing units. Conversely, the recovery of the alcohol gummies market is expected in near future.
Alcoholic gummies are becoming increasingly popular among consumers, which has forced manufacturers to use a wide range of strategies to develop the best possible products. For instance, Smith & Sinclair, a well-known disruptor in the food and beverage industry, obtained a multi-million-dollar investment in October 2018 to support its unique research and market expansion internationally. The London-based company that invented the original alcoholic cocktail gummies, allowing consumers to consume alcohol in new ways, has also got a $26 million investment from the American investment fund disruptive capital.
The key players operating in the alcohol gummies market have adopted product launch and business expansion as its key strategies to expand their market share, increase profitability, and remain competitive in the market. The major players operating in the global alcohol gummies market are Arewa Treats, Maggie Lyon Chocolatiers, Kate & Belle, The Candy Store, Sugarfina USA LLC, SugarSin, Inebriated Baker, Lolli & Pops, Smith & Sinclair US, and Squish Candies.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the alcohol gummies market analysis from 2021 to 2031 to identify the prevailing alcohol gummies market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the alcohol gummies market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global alcohol gummies market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Spirit gummies
- Cocktail gummies
- Sub-type
- Whiskey
- Rum
- Vodka
- Others
By Nature
- Alcohol infused
- Alcohol flavored
By Distribution Channel
- Online
- Offline
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Portugal
- Georgia
- Rest of Europe
- Asia-Pacific
- India
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Arewa Treats
- Maggie Lyon Chocolatiers
- Kate & Belle
- The Candy Store
- Sugarfina USA LLC
- SugarSin
- Inebriated Baker
- Lolli & Pops
- Smith & Sinclair US
- Squish Candies
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: ALCOHOL GUMMIES MARKET, BY TYPE
CHAPTER 5: ALCOHOL GUMMIES MARKET, BY NATURE
CHAPTER 6: ALCOHOL GUMMIES MARKET, BY DISTRIBUTION CHANNEL
CHAPTER 7: ALCOHOL GUMMIES MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report titled, “Alcohol Gummies Market," the alcohol gummies market was valued at $10.9 million in 2021, and is estimated to reach $16.3 million by 2031, growing at a CAGR of 4.3% from 2022 to 2031.Gummy bears that include alcohol are known as alcohol gummies. The gummies are available in a range of tastes and are designed to be consumed as a drinking game or as a party activity. Consumers in most of the nations in this region choose to purchase premium alcohol gummies from specialty stores due to the distinctive variety of appealing products offered and the convenient packaging. Furthermore, it appears that customers are opting for premium products. In addition, the popularity of organic alcohol gummies is opening possibilities for new competitors to enter the market with novel, distinctive, and flavorful confectioneries, thereby boosting their revenue sources and obtaining an advantage over their rivals.
The alcohol gummies market is analyzed on the basis of type, nature, distribution channel, and region. By type, the market is divided into spirit gummies and cocktail gummies. Further, the spirit gummies segment is divided into whiskey, rum, vodka, and others. By nature, the market is divided into alcohol infused and alcohol flavored. By distribution channel, it is classified into online and offline. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Portugal, Georgia, and the rest of Europe), Asia-Pacific (India, Australia, and the rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
Multiple international industries have seen a significant disruption as a result of the COVID-19's fast growth. Due to the unexpected closure of business-like munufacturing facilities & offices and supply chain disruptions, which resulted in pressure, anxiety, and unemployment. The pandemic has significantly raised the need for alcohol gummies for relaxing mood.
Gummies are a favorite among all people due to their calming and sweet flavor. Due to the positive effects they have on the brain, alcohol gummies are becoming more and more popular worldwide, which in turn is fueling their market's growth. The growing acceptance of handcrafted confections that employ alcohol as a principal component is one of the major forces behind the expansion of the global market.
The category of alcohol gummies is a niche one. Therefore, the growth of the alcohol gummy industry hinges on people being aware that such goods exist. The lack of consumer awareness about the availability of alcohol gummies, particularly in emerging nations in Asia-Pacific, Latin America, and Africa, is the key factor limiting the growth of the global market for alcohol gummies. The high cost of the product is another factor that can have an impact on sales of this specialized good in low- and middle-income countries.
The growing demand for high-end confectionary items like gummies is driving the market for alcohol gummies in the Asia-Pacific region. The primary markets for alcohol gummies are the US, UK, Australia, and Portugal. Alcohol gummies are expected to be most popular in the Asia-Pacific area because to rising consumer awareness, rising purchasing power, and a high demand for confectionary goods. Additionally, the region's growing youth population and rising income are providing attractive growth prospects for the top suppliers in the global market for alcohol gummies. The market is primarily driven by the demand for premium alcohol gummies in Europe and the Asia-Pacific region.
Many big producers of alcohol gummies are focusing on offering distinctive and unusual flavors in order to attract consumers. Some are offering these combos at fair pricing, while others are luring customers with free samples of their high-end goods. These tactics in turn catch consumers' attention and boost sales of alcohol-flavored candies, which fuels industry expansion. Customers prefer higher-quality alcohol gummies instead of drinking it, elevating premiumization. These elements increase consumer demand for high-end alcohol gummies.
The major players analyzed for global alcohol gummies industry are Arewa Treats, Maggie Lyon Chocolatiers, Kate & Belle, The Candy Store, Sugarfina USA LLC, SugarSin, Inebriated Baker, Lolli & Pops, Smith & Sinclair US, and Squish Candies. These major players have launched innovative products in the market.
Key Findings of the Study
- By type, the spirit gummies segment was the highest revenue contributor to the market, with $6.5 million in 2021, and is estimated grow at a CAGR of 4.2% from 2022 to 2031.
- By application, the alcohol flavored segment was the highest revenue contributor to the alcohol gummies market, is estimated to reach the market size of $10 million by 2031.
- By distribution channel, the online segment was the highest revenue contributor to the alcohol gummies market, and likely to grow at a CAGR of 4.2% during the forecast period.
- Region wise, Europe was the highest revenue contributor to the alcohol gummies market, accounting for $4.7 million in 2021, growing at a CAGR of 4.0% during the forecast period.
Companies Mentioned
- Arewa Treats
- Maggie Lyon Chocolatiers
- Kate & Belle
- The Candy Store
- Sugarfina USA LLC
- SugarSin
- Inebriated Baker
- Lolli & Pops
- Smith & Sinclair US
- Squish Candies
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | February 2023 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 10.9 million |
| Forecasted Market Value ( USD | $ 16.3 million |
| Compound Annual Growth Rate | 4.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
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