There are a few different spirits that claim to be the "Water of Life". The most popular form is whisky, whose name is derived from the gaelic "uisge beatha" which literally means the water of life. French brandies have "eau de vie" that are more pure brandy infusions of fruits. In Scandanavia, they have avkvavit: a starch distilate flavored with seed spices.
This regional pre-dates the current trend of flavored vodkas by about 500 years. What started as a folk remedy for ailments in the 1500s has become a shibboleth spirit for those from Scandanavia or those who have enjoyed their visits to that region. Its taste, more like a sausage than a drink, is dominated by the seed spices of caraway, dill, coriander, fennel, or anise. These flavors are steeped in a low spirit, distilled a second time and then aged for a period of time.
These steps make akvavit more unique than any mass-market option. It's not like gin because the spices are steeped in the spirit during distillation rather than hanging within the vapor while distillation occurs. It's also not like a flavored vodka because the spices are steeped between the first and second distillation rather than the more common flavoring that occurs with vodka after the spirit has its final run through the still. Once it's off the still, the spirit is aged for a period of time in casks. This makes it a lot like tequila, only its mother carbohydrate is a grain rather than tequila's fructose-based agave.
Are you thinking of buying a bottle to try it? If you're fortunate enough to have access to Akvavit, take heed in the comment that its spices are used to make sausage. The cheaper options will taste like it. My introduction to avkavit came from three offerings from V&S of Sweden. The youngest tasted like breakfast sausage. The middle-aged bottle reminded me of Wrigley's Gum; not any specific flavor but rather the taste one detects in all of their gums to tell you it's a Wrigley's product. The eldest avkavit tasted like a respectable rendition of Captain Morgan's spiced rum. No disrespect to avkavit in any of these comparisons but just a realization that the spices are the dominant flavor when drinking these spirits.
Would the average drinker appreciate a sip of akvavit? Not very likely. The spirit does not lend itself to mixing; though I could imagine it being used as a base for a "Sausagetini". Gin and vodka drinkers are unlikely to appreciate the spices involved: they just aren't something people drink. No, I expect that akvavit will remain a drink for people who experience it in the element of Scandanavia. A rare treat for someone who shops at Ikea for the asthetic rather than the price... someone who appreciataes salmiac-flavored licorice.... someone who doesn't think "lutefisk" isn't the butt of a joke. In other words: a native.