The Alcohol Gummies Market size 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. 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. Most of the alcohol gummies market growth is related to consumer preferences for hand-made alcoholic confectionery like alcohol gummies and convenience, both of which will increase demand.
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An increase in demand for consumption of alcohol gummies drives the growth of the global alcohol gummies market. However, lack of consumer awareness about the availability of alcohol gummies, particularly in emerging nations in Asia-Pacific, Latin America, and Africa restricts the market growth. Moreover, increased demand for handmade confections with alcohol presents new opportunities in the coming years.
Key Players Are:
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.
Regional Analysis:
The region that dominated the global alcohol gummies market in 2021 was Europe, and this dominance is anticipated to continue throughout the forecast period. The region’s market is primarily influenced by the rising customer desire for these products, their accessibility in a range of flavors, and the trend of consuming them on special occasions. According to European cultural customs, these handmade alcoholic confections are consumed on special occasions, vacations, and holidays. All these alcohol gummies market trends are creating alcohol gummies market opportunities in the global market.
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By nature, the market is divided into alcohol infused and alcohol flavored. The alcohol infused segment is growing at a moderate rate during the forecast period. Gummies that have been prepared with alcohol are known as alcohol-infused gummies. Alcohol-infused gummies are produced using gin, rum, whiskey, and many other types of alcohol. Alcohol-infused gummies are rising in popularity, especially among young people.
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 market, is estimated to reach $10 million by 2031.
- By distribution channel, the online segment was the highest revenue contributor to the market, and likely to grow at a CAGR of 4.2% during the forecast period.
- Region wise, Europe was the highest revenue contributor, accounting for $4.7 million in 2021, growing at a CAGR of 4.0% during the forecast period.
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Based on type, the spirit segment held the highest market share in 2021, accounting for around three-fifths of the global alcohol gummies market, and is estimated to maintain its leadership status throughout the forecast period. The growing consumption of spirits is driving the growth of the segment. However, the cocktail segment is projected to manifest the highest CAGR of 4.5% from 2022 to 2031. The market players such as Smith & Sinclair and Osito & Co. are offering cocktail gummies as one of the products in their product portfolio.
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