PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1493130
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1493130
US Flavored Alcohol Market is valued approximately at USD 6.68 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 15.86% over the forecast period 2024-2032. Flavored alcohol is a rapidly growing segment in the beverage industry, providing a wide array of infused spirits with flavors spanning fruits to spices. This category appeals to consumers looking for unique and exciting drinking experiences. Its versatility in cocktails and diverse options continue to attract attention in the market, creating opportunities for manufacturers and consumers alike. Additionally, in light of increased consumption of healthy foods among USA consumers, with nearly 20% favoring on-pack claims such as "made with real ingredients" when purchasing food or beverage products, the incorporation of alcoholic flavors in snacking has witnessed notable advancement over the years, poised to drive revenue growth in the US Flavored Alcohol Market.
American consumers increasingly prefer wines labeled "no taste additives, gluten-free, low carb, vegan-friendly, sulfite-free, low calorie, low alcohol, light, lighter, organic" due to heightened health consciousness. In 2021, Mexico's wine imports exceeded exports by USD 267 million, with total imports valued at USD 272 million and exports at USD 5.15 million, contributing to a wine industry revenue of USD 1.56 billion. Flavored alcoholic beverages cater to these preferences by offering a diverse range of flavors, including fruity, spicy, herbal, and unconventional combinations. Consumers value the sensory experience provided by flavored options, driving market expansion. However, stringent government regulations aimed at curbing underage drinking, high taxation, elevated costs of premium flavored alcoholic beverages, bans on alcohol sales in certain regions, and the rise of non-alcoholic beverages may hinder growth in the US Flavored Alcohol market from 2022 to 2032.