The Absinthe Market Is Predicted To Reach USD XX.XX Billion With A CAGR Of X.XX% According To Market Data Forecast Report

The Absinthe Market Is Predicted To Reach USD XX.XX Billion With A CAGR Of X.XX% According To Market Data Forecast Report

ID: 6841 | October 2018 | Region: Global

The Absinthe Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the Absinthe Market is estimated to be USD XX.XX billion in 2018 and predicted to rise to USD XX.XX billion by 2023 with a CAGR of X.XX%. The market is segmented by Applications (Food and Beverage, Cosmetics and Medical), by Type (Absinthe Blanche, Absinthe Amber, Absinthe Verte, Absinthe Ordinaire, Absinthe Reve Pastis, Absinth Bohemian, Absinthe Liqueur, Premium Absinthe and Others). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.

The major drivers of the Absinthe market are the medicinal benefits of absinth such as the treatment of parasitic worm infections in the digestive tract. It has been proven to stimulate the digestive tract, enhance saliva, stomach acid and other digestive enzymes. Other drivers of the market include applications in the cosmetics industry and demand as an alcoholic beverage. As for the restraints of the market, the arguable threats to human health posed by its consumption are the main reasons. There is also a wrong notion that absinthe consumption may lead to hallucinations.

The leading category in the Absinthe market is the applications in food industry. In the medical industry, it also finds applications as an medicine for cough and an intoxicating agent. In food and beverages, absinthe is used in several recipes to provide better taste and flavor to the food.

The Absinthe Market is dominated by North America in 2016 with the region accounting for 36% of the overall market share. North America was followed next in line by Europe and Asia-Pacific. Asia-Pacific is expected to grow rapidly in the coming years as is evident from the high CAGR value for the region. Another promising region for the market is Latin America, which is expected to show high growth rates in coming years.

High investment from top players and increasing R&D spending are likely to provide ample opportunities to the industry players across regions. Key market players include La Fée Absinthe, Doubs Mystique, Duplais Verte, Pacific Distillery, Alandia GmbH & Co. KG, Butterfly absinthe, Jade Liqueurs LLC, Lucid Absinthe Supérieure, Kübler Absinthe Superieure, La Clandestine, Hill's Liquere North America, Philadelphia Distilling Company, Teichenne, S.A., Milan METELKA and RUDOLF.

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