Ouzo
is an alcoholic drink which is a dry anise flavored aperitif native
to Greece, Cyprus and Lebanon. The taste of ouzo is similar to other
anise liquors such as pastis and Sambuca. Ouzo is an ancient drink
with protected designation of origin, prohibiting other European
manufacturers to use the name except Greece and Cyprus. Ouzo is also
said to have some health benefits if consumed in reasonable
proportions. It can be used as an antiseptic and can also cure
headaches and flu. Ouzo is more popular in summers and served with
food, as it helps in enhancing the appetite. Greeks also used ouzo in
many dishes in order to add anise flavor to foods such as sea food
marinades, cookies etc. Ouzo is prepared by using the by-products of
grapes after they have been used for preparation of wine.
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Ouzo
market is expected to increase with significant CAGR over the
forecast period across the globe, owing to increasing awareness among
millennial coupled with curiosity among individuals to try new
things. Increasing tourism in Greece and Cyprus is also expected to
fuel the growth of Ouzo market over the forecast period as tourists
develop the taste for regional drinks.
Increasing
tourism in Greece and Cyprus is expected to boost the sales of ouzo
market over the forecast period. Increasing number of individuals
consuming alcoholic drinks across the globe, owing to perception that
it relaxes state of mind. Changing lifestyles, influence of social
media and Internet, and increasing social parties & celebrations
is also expected to increase the sales of alcohol across the globe.
Adolescents with high social network influence, greater family
incomes, and others have easier access to alcoholic drinks and are
likely to consume more alcohol. These factors are expected to
increase the revenue generated by ouzo market across the globe.
Low
shelf presence of ouzo across the globe except Greece and Cyprus is
expected to impede the growth of ouzo market over the forecast
period. Low product penetration is also expected to hinder the growth
of ouzo market. Regulations on advertisements of alcoholic drinks is
also factor that has left void in ouzo market sales and hence
hampering the sales across the globe.
Drinks
with different flavors are trending across the globe and is expected
to continue over the forecast period, as individuals are inclined
towards trying new flavors.
Depending
on the geographic regions, global
ouzo market is segmented into five key regions: North
America, Latin America, Europe, Asia Pacific, and Middle East and
Africa.
In
terms of consumption, Europe holds the largest share of ouzo market.
Greece and Cyprus dominates the global market in terms of consumption
and is expected to continue the trend over the forecast period.
North
America ouzo market is expected to increase with significant CAGR
over the forecast period, owing to increasing demand for variety of
alcoholic drinks among millennial. The Middle East and Africa ouzo
market is also expected to have a moderate growth over the forecast
period as disposable income is increasing in the region. Asia pacific
ouzo market is expected to increase with relatively lower CAGR over
the forecast period.
Some
of the prominent manufacturers of Ouzo are Ouzo Barbayanni, Ouzo of
Plomari Isidoros Arvanitis, Thomopoulos Distillery, Gruppo Campari,
Pitsiladi distillates, Pernod Ricard, and others.
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