Alcoholic Beverages Market Share, Size, & Trends Forecast

 

The Alcoholic Beverages Market is projected to reach USD 1,759 billion by 2027, growing at a CAGR of 2.2% over the forecast period (2020-2027).

The factors driving growth of the Alcoholic Beverages Market includes rising demand for wine and dark spirits, expansion of pubs, bars, and restaurants around the world, increasing acceptance for striking flavors of beers, buys lifestyles, growing consumers preference for premium alcoholic drinks and improvements in the living standards. For instance, the revenue generated from the sales of wine products worldwide is expected to reach USD 311 billion by the end of 2022, growing at a CAGR of 11.80% over the forecast period (2022-2025), which is expected to accelerate the Global Alcoholic Beverages Market in the approaching years. Moreover, increasing availability of alcoholic beverages over e-commerce platforms, Government initiatives promoting the consumption of alcoholic drinks, growing adoption of advanced technologies by manufactures, rise in the launch of innovative flavors and rapid urbanization, are some of the additional factors supplementing the Alcoholic Beverages Market share. In addition, the increasing investments by major companies on research and development, strategic partnerships, and collaboration between enterprises, rising disposable incomes and growing population growth rates, are further contributing towards the market growth.

However, growth of the Alcoholic Beverages Market is hindered due to disruption sin the global supply chain.

The leading players operating in the Alcoholic Beverages Market are China Resources beer (Holdings) Company Limited, Remy Cointreau, Tsingtao Brewery Co Ltd., Accolade Wines, Asahi Group Holding Ltd., Brown-Forman, Treasury Wine Estates, Carlsberg Breweries A/S, Thai Beverage Public Co., Ltd., and The Wine Group, among others.

Based on Type, the Distilled Spirits segment is predicted to capture the largest market share during the forecast period

Growing demand for distilled spirits such as whiskey, rums, and vodka across the globe, is pushing growth of the segment.

Based on Distribution Channel, the Supermarkets segment is projected to expand at a remarkable CAGR over the forecast period

As per the Alcoholic Beverages Market Research, supermarkets offer wide range of alcoholic beverages at attractive discounts, offer different payment options such as debit card, cash and credit cards and provide free home delivery options on certain purchases, are some of the factors propelling the segment’s growth.

Based on Region, the North American region is projected to hold the largest market share during the forecast period

Growing popularity of premium alcoholic beverages amongst millennials, increasing availability of alcoholic drinks at distribution channels, rapid industrialization, rising population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in North American region.

 

Key Developments

• In 2020, Asahi Group Holding Ltd., completed the acquisition of Carlton & United Breweries, with Asahi divesting two beer brands and three cidar brands. The deal amounted for USD 11.3 bn.
• In 2019, Brown Forman decided to acquire Fords Gin, a premium gin for its growing portfolio. The acquisition will include the Fords Gin trademark and other assets of the 86 Company.

 

Market Segmentation

Segmentation by Type

• Beer
  • Ale
  • Lager
  • Hybrid
• Distilled Spirits
  • Rum
  • Whiskey
  • Vodka
  • Others
• Wine
  • Sparkling
  • Fortified
  • Others
• Others

Segmentation by Distribution Channel

• On-Premises
• Liquor Stores
• Grocery Shops
• Internet Retailing
• Supermarkets
• Convenience Stores

Segmentation by Region

• Asia Pacific
  • China
  • Japan
  • India
  • Rest of APAC
• North America
  • United States of America
  • Canada
• Europe
  • United Kingdom
  • Germany
  • France
  • Spain
  • Rest of Europe
• RoW
  • Brazil
  • South Africa
  • Saudi Arabia
  • UAE

 

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: www.gmiresearch.com