Alcoholic beverages are differentiated by the type of process used for preparation. Alcohol concentration in alcoholic beverage varies by brand and type of alcohol. Alcoholic beverages are addictive and can cause alcoholism, alcohol abuse, cancer and many other disorders. Consumption of alcohol is rising year over year in the developed regions including Europe and North America.
High pressure jobs in the urban areas and perception of consumption of alcohol leads to boy and mind relaxation are the driving factors of the global alcohol beverages market. Surge in global young-adult demographic and increasing disposable income are some of the other major factors supporting the market growth.
However, high cost of the premium segment of alcoholic beverages and rising crime rates due to alcohol consumption are some the key factors expected to restrain the global alcoholic beverages market. Rise in death count due to excessive alcohol consumption across the globe and constant increase in the drink and drive cases are the other factors which may slow the market growth during the forecast period 2019–2026.
The global alcoholic beverages market is segmented on the basis of type, distribution channel, and region.
Based on type, the market is segmented into distilled spirits, beer, wine, champagne and others. Distilled spirits is further segmented into whiskey, rum, vodka, and others. Beer is segregated into lager, ale, and hybrid. Wine is further divided into sparkling and fortified. Amongst type, distilled spirits segment is expected to experience swift growth owing to the increasing demand for spirits across the globe.
On the basis of distribution channel, the market is divided into supermarkets, liquor stores, convenience stores, on premises, grocery shops, and internet retailing. Amongst distribution channel, internet retailing and on premises are expected grow significantly during the forecast period 2019–2026.
In terms of region, the global alcoholic beverages market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.
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Europe is expected to account for major share of the market owing to the high demand of alcoholic beverages in the region. Some of the other factors escalating the market growth are high youth-adult demographics and presence of major alcoholic beverages manufacturers in the region.
North America accounts for significant share of the global alcohol beverages market owing to the growing urbanization and leaning trend towards alcohol consumption in North America.
Asia Pacific alcoholic beverages market is expected to experience swift growth during the forecast period 2019–2026. Growth of the Asia Pacific market is attributed to constant rise in young-adult population and rise in the urbanization in the region.
Some of the major players in the market are Carlsberg A/S, Suntory Holdings Ltd., Brown-Forman Corporation, Craft Brew Alliance Inc., Anheuser-Busch InBev SA/NV, Diageo Plc.., The Wine Group LLC, Asahi Group Holdings Ltd., United Breweries Limited, Bundaberg Brewed Drinks Pty Ltd, Halewood International Holdings Plc, Bacardi Limited, Heineken Holding N.V.., Pernod Ricard SA, DGB Pty Ltd., Accolade Wines Holdings Australia Pty Limited, and Bronco Wine Company.
Alcoholic Beverages Market Segmentation
By Distribution Channel