Portland, OR, April 12, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global dairy free cream liqueur market generated $1.5 billion in 2021, and is estimated to reach $4.2 billion by 2031, witnessing a CAGR of 10.8% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $1.5 Billion |
| Market Size in 2031 | $4.2 Billion |
| CAGR | 10.8% |
| No. of Pages in Report | 345 |
| Segments Covered | Source, Flavor, Distribution Channel, and Region |
Drivers | The expansion of the hospitality industry |
A rise in vegan population across the world | |
The increase in the consumption of recreational alcohol | |
| Opportunities | An increase in the number of players in the market |
Adoption of liqueurs in developing countries | |
| Restraints | High consumer inclination towards making drinks at home |
| Problems in the manufacturing of dairy-free cream liqueurs | |
| Availability of alternatives |
Covid-19 Scenario: -
- The outbreak of the COVID-19 pandemic had a negative impact on the dairy free cream liqueur market.
- The closure of bars, clubs, restaurants, and other drinking establishments had a disastrous impact on the market for dairy-free cream liqueurs.
- However, in the post-pandemic period, a surge in online alcohol delivery boosted the growth of the market.
The report offers a detailed segmentation of the global dairy free cream liqueur market based on source, flavor, distribution channel, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
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Based on source, the almond segment contributed to nearly three-fifths of the global dairy free cream liqueur market revenue and is projected to rule the roost by 2031. However, the oat segment would display the fastest CAGR of 11.6% throughout the forecast period. The other segments assessed in the report include coconut and others.
Based on flavor, the chocolate segment held the largest share in 2021, garnering more than half of the global dairy free cream liqueur market revenue and is projected to maintain its dominance by 2031.On the other hand, the caramel segment would cite the fastest CAGR of 11.3% throughout the forecast period. The vanilla, strawberry, and others segments are also discussed in the report.
Based on distribution channel, the off trade segment accounted for the largest share in 2021, contributing to around two-thirds of the global dairy free cream liqueur market revenue, and is projected to maintain its lead position during the forecast period. However, the on trade segment would portray the fastest CAGR of 11.5% throughout the forecast period.
Based on region, Europe held the major share in 2021, contributing to nearly half of the global dairy free cream liqueur market revenue, and is expected to dominate by 2031. The Asia-Pacific region, on the other hand, would showcase the fastest CAGR of 12.9% throughout the forecast period. The other provinces studied through the report include North America and LAMEA.
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The key market players analyzed in the global dairy free cream liqueur market report include Distell Group Limited, Arctic Blue Beverages, Tokaj Spirit, Dirty Cow Chocolate Ltd., Bar Napkin Spirits, LLC, Panther Milk, Buglisi Recobs Group Inc., Bottega SPA, Diageo plc., Walders, and Zamora Company. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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