Absinthe Market – Global Industry Analysis and Forecast (2023 to 2029)

Absinthe Market was valued at US$ 36.92 Bn. in 2022. Absinthe Market size is estimated to grow at a CAGR of 3.6% over the forecast period.
Absinthe Market Overview:
The report explores the Absinthe market's segments (Type, Application, and Region). Data has been provided by market participants, and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). This market report provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2018 to 2022. The report investigates the Absinthe market's drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on thoroughly examining the Absinthe market's contemporary competitive scenario.To know about the Research Methodology :- Request Free Sample Report

The COVID-19 pandemic has led to governments taking several restrictive measures. Confinement at home during the COVID-19 crisis could have major implications on mental health and alcohol use behaviors among the whole population. Staying at home during the COVID-19 crisis could have major implications on mental health and substance use behaviors among the whole population. In Belgium, almost 10% of the population consumes alcohol every day and 13% report problematic alcohol use during their lifetimes. The prevalence of weekly excessive alcohol use and daily consumption is more frequent among men and increases with age. A U-shaped curve is observed for the level of education, i.e., higher alcohol use in the least educated as well as in the most educated individuals. The same is true for risky daily drinking, except for gender. Also, parents were less likely to exceed alcohol than non-parents, but were more likely to drink at home Preliminary research on the impact of the COVID-19 pandemic and associated lockdown measures on alcohol use suggests that changes in consumption have taken place during the crisis, but it has not necessarily led to a generalized increase in consumption (The present study focuses on the role of individual characteristics, contextual factors, and mental health variables on alcohol consumption.
Absinthe Market Dynamics:
Absinthe is made by redistilling neutral alcohol with botanicals—the “holy trinity” is wormwood, anise, and fennel—to create a concentrated, high-proof spirit. Other ingredients that are commonly added include hyssop, melissa, star anise, and lemon balm. Producers then reinfuse the spirit with more of these botanicals to give it its characteristic green hue. The major factors driving the growth of the absinthe market are the benefits of absinthe in the treatment of parasitic worm disease, use in the cosmetic industry, increasing demand for luxury alcohol beverages, and rising disposable income of the consumer will further boost the market growth. Further, the use of absinthe as an anti-inflammatory, insect repellent product, and anti-microbial in the cosmetics industry stimulates the demand for absinthe. The increasing demand for absinthe in the food industry owing to its property of enhancing flavors and taste of food products propels the development of the absinthe market. These are the major factors responsible for the growth of the market.

The major challenge faced by the absinthe market is that it causes hallucinations, absinthe was also associated with several negative psychotropic effects, including mania and psychosis. These were thought to result in violent and erratic behavior. Absinthe was even said to cause physical symptoms, such as facial contractions, numbness, and seizures. Due to the presence of thujone a chemical compound in absinthe which is responsible to slow reaction time and impairs a person’s ability to pay attention it may cause visual or auditory hallucinations in some people. Because of this not-so-good reputation, it was banned in many countries including the United States. Although possession and sale of thujone-free absinthe are legal in the U.S., the internet has made it possible to obtain absinthe containing thujone from countries like the Czech Republic where it is legal. In the European Union (EU), absinthe can contain no more than 35 mg of thujone per liter of absinthe. The 100 mg label you saw was likely the size of the bottle itself, with 35 mg of the contents or less being thujone. However, it’s possible that the amount of thujone you had was even lower than that: recent analyses of thujone content in absinthe have shown that many don’t even exceed two mg/l.
Absinthe Market Trends:
The major key trend is the use of absinthe in the pharmaceutical industry will contribute to the growth of the market during the forecast period. A. absinthium from different geographical locations has been of pharmaceutical and botanical importance and has been used traditionally for the management of several disorders including hepatocyte enlargement, hepatitis, gastritis, jaundice, wound healing, splenomegaly, dyspepsia and indigestion, flatulence, gastric pain, anemia, anorexia, esophageal bowel syndrome with irritation, weak memory tremors depression, epilepsy, chronic fever [, skin diseases, gout, and rheumatism. Additionally, it is used as anthelmintic and insect repellents, and as an additive source for ruminants, particularly in promoting the rumen fermentation pattern for efficient utilization of diets. The dried A. absinthium rather than rice straw did not alter the pH of the rumen. Moreover, it has been documented to alleviate pains during labor and for the management of sclerosis and leukemia. It is widely used in the food industry for the production of aperitifs, spirits, and bitters. Additionally, A. absinthium ointment has been used externally to reduce the stiffness of muscles and joints as well as help in healing bruises. Furthermore, wormwood is employed to relieve childbirth pain and it is also employed to relieve pains during the menstrual cycle, cardiac disorders, and, hypertension. Combination chemotherapies are now documented to relieve severe diseases, including malignancies, immune deficiency syndrome, lung tuberculosis, and several protozoa to facilitate improved therapeutic efficacy. The combined application of A. absinthium extract with diminazene aceturate and atovaquone showed additive and synergetic effects against parasites. These are the key trends that will propel the growth of absinthe during the forecast period.
Absinthe Market Segment Analysis:
Based on Type, the Absinthe Market is segmented into Absinthe Blanche, Absinthe Amber, Absinthe Verte, Absinthe Ordinaire, Absinthe Reve Pastis, Absinthe Bohemian, and Absinthe Liqueur. The absinthe Bohemian segment held the largest market share in 2022 and will remain the same during the forecast period. The increase in demand for products with new tastes and lower alcohol content and increase in penetration of flavored absinthe products is the major factor driving the growth of the segment.Based on the Application, the Absinthe Market is segmented into Food and beverage, cosmetics, and Medical. The food and beverage segment dominated the market in 2022 and will remain the same during the forecast period. The increase in demand for new flavors is driving the growth of the segment. The cosmetic segment is expected to grow at a 4.7% CAGR during the forecast period.
Absinthe Market Regional Insights:
The North American region held the largest market share accounting for 38% in 202I. Its beneficial properties such as stress alleviation, nerve soothing, and digestive wellness are the major factor contributing to the growth of the absinthe market in the region.

The Asia Pacific region is expected to witness significant growth through the forecast period. The newly discovered therapeutic benefits of Absinthe is one of the key reason driving the growth of the market. The increasing demand for alcoholic beverages and increasing cosmetic industry in the region will further boost the market growth during the forecast period.

The objective of the report is to present a comprehensive analysis of the global Absinthe Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complex data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Absinthe Market dynamic, and structure by analyzing the market segments and projecting the Absinthe Market size. Clear representation of competitive analysis of key players by Design, price, financial position, product portfolio, growth strategies, and regional presence in the Absinthe Market make the report investor’s guide.
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Absinthe Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 36.92 Bn.


Forecast Period 2023 to 2029 CAGR:
3.6%
Market Size in 2029:
US $ 47.3 Bn.


 Segments Covered:
by Type
Absinthe Blanche
Absinthe Amber
Absinthe Verte
Absinthe Ordinaire
Absinthe Reve Pastis
Absinthe Bohemian
Absinthe Liqueur


by Application
Food and beverage
Cosmetics
Medical


by Distribution Channel
Online
Offline



Absinthe Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Absinthe Market Key Players:
1. Pacific Distillery
2. Duplais Verte
3. Teichenne, S.A.
4. Kübler Absinthe Superieure
5. La Fée Absinthe
6. La Clandestine
7. Hill's Liquere
8. Butterfly absinthe
9. Doubs Mystique
10.Milan METELKA
11.C.F. Berger
12.Alandia
13.Pacifique
14.Vieux Carre
15.Jade Nouvelle Orleans
16.Teichenne

Frequently Asked Questions:

1] What segments are covered in the Global Absinthe Market report?
Ans. The segments covered in the Absinthe Market report are based on Type, Application and Distribution Channel.

2] Which region is expected to hold the highest share in the Global Absinthe Market?
Ans. The North American region is expected to hold the highest share in the Absinthe Market.

3] What is the market size of the Global Absinthe Market by 2029?
Ans. The market size of the Absinthe Market by 2029 is expected to reach US$ 47.3 bn.

4] What is the forecast period for the Global Absinthe Market?
Ans. The forecast period for the Absinthe Market is 2023-2029.

5] What was the market size of the Global Absinthe Market in 2022?
Ans. The market size of the Absinthe Market in 2022 was valued at US$ 36.92 bn.