The global alcoholic beverages market size was valued at USD 1,564.57 Billion USD in 2021 and is expected to expand at a CAGR of 2.5% from 2022 to 2030 and reach around USD 1,900 billion. The Global Alcoholic Beverages Market research report includes critical development trends that define the industry in profit potential and growth opportunities. It also highlights the various growth drivers and opportunities affecting the future remuneration of this business vertical and the challenges and constraints that may negatively impact the market outlook.
The global alcoholic drinks industry is being driven by rising demand for alcoholic beverages as well as an increase in the young adult population worldwide. European countries with the highest alcoholic beverage demand include Lithuania, the Czech Republic, France, Ireland, and Belarus. The demand for alcoholic beverages grows in tandem with the population. Trade volumes will need to increase to accommodate the growing population. As a result, players in this market are likely to benefit from increased demand for alcoholic beverages as the population grows over the forecast period.
Drivers: The Rising Urban Population and Disposable Incomes are Growing the Market
Due to the rising urban population and the people in emerging economies have new ways of entertainment as night parties, clubbing, and exploring bars and lounges. A young crowd with ample amount of income and social influence with easy access to alcoholic beverages is leveling up this market. Companies introducing the new flavor in the products create enthusiasm amongst customers, particularly millennials to try these products.
Drivers: Innovative Products from Manufacturers Giving Rise to the Market
The main ingredients in Alcoholic beverages are ethanol and water. Improving to that manufacturers add flavors and scent enhancers, such as herbs and spices. Giving rise to the new customer segment focusing on fragrance.
Drivers: Culture and Health Enthusiasm can Grow the Market
Production of alcoholic beverages is considered a culture in Indochina and Thailand for centuries. Studies improving alcoholic beverages and making them toxic-free have benefited the industry. Companies using fruits in production have enhanced the health of products and customers as well. This is gaining the trust and pushing the alcoholic beverage market.
Restrains: New Entries and the Health Consciousness of Consumers
New emerging non-alcoholic drinks and energy drinks are replacing alcoholic beverages. Consumers are getting more health-conscious than before. Customers are prioritizing health more than others. Awareness promotions by the government and NGOs are also restraining the market.
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The global market for alcoholic drinks is divided into three categories: distribution channel, type, and region.
Distilled spirits, beer, champagne, wine, and other alcoholic beverages make up the global alcoholic drinks market. Whiskey, rum, vodka, and other distilled spirits are categorized. Based on distribution channels, the global alcoholic beverage market is segmented into supermarkets, liquor stores, convenience stores, on-premises, grocery stores, and online retailing. Supermarkets are expected to dominate the market. The growth of the supermarket segment can be attributed to partnerships between supermarkets and major players in the global alcoholic drinks industry.
Significant Rise in North America and Asia-Pacific Due to Rise in Youth Population and Income
Expected rise in consumption in North America because of the growing young–adult population and increased consumption of high-quality alcoholic beverages. During the forecast period in Asia-Pacific, emerging markets such as China and India, on the other hand, are expected to see a significant increase in demand for alcoholic beverages due to a substantial rise in disposable income in this region. However, due to rising alcohol consumption demographics, Europe is expected to grow the fastest, followed by LAMEA.
Major corporations have adopted agreements, product launches, expansion, and merger strategies to survive the fierce market competition.
Some of the major players in the Global Alcoholic Beverages Market industry are
By Distribution Channel
11 May 2022: Carlsberg launched a new global campaign with Mads Mikkelsen to demonstrate that Carlsberg is more than meets the eye. For the first time, the brand tells the story of the Carlsberg Foundations, one of the oldest industrial foundations in the world.
24 April 2022: The Carlsberg Group has announced accounting changes for its Russian and Ukrainian operations and new earnings guidance.
21 April 2022: For the first time, Bacardi, the world's largest privately held spirits company, brought Shake Your Future, its free professional bartender training program for disadvantaged young adults, to South Africa. Participants in the program had received training in the art of bartending and mixology and invaluable work experience in some of the industry's top bars and restaurants, allowing them to start over.
" Crucial Insights The Report Provides:"
* Known and Unknown Adjacencies Influencing the Growth of Market
* Explorable Revenue Sources
* Customer Behaviour Analysis
* Target Partners
* Customized Geographical Data Based on Customers as well as Competitors
* Analysis of Market Size and CAGR between the Forecast PeriodsView Full Report Buy This Report Now