In the latest report by IMARC Group, titled “Alcoholic Beverages Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the alcoholic beverages market share. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global alcoholic beverages market size reached US$ 1,537.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,805.9 Billion by 2028, exhibiting a growth rate (CAGR) of 2.94% during 2023-2028.
An alcoholic beverage is a fermented drink, such as wine, beer, or distilled spirits, containing ethanol. These drinks are fermented using the sugars in fruits, berries, and grains, along with other ingredients like plant saps, tubers, honey, and milk. The sugar is converted to ethanol with the help of yeast, thereby imparting a specific aroma and flavor to the beverage. They are distilled to reduce the original watery liquid to a liquid of much greater alcoholic strength. All alcoholic beverages share the common attribute of being produced through yeasts’ anaerobic fermentation of plant-derived carbohydrate materials. Beer is made from malt, corn, rice, and hops, whereas wine is manufactured by fermenting the juices of grapes or other fruits such as apples (cider), cherries, berries, or plums.
Covid-19 Outbreak Analysis:
The COVID 19 pandemic severely affected the global alcoholic beverages market. The closure of specialty shops, bars, pubs, and restaurants negatively impacted their sales across the globe. However, the stocking of alcoholic beverages during the pandemic as a means of sustenance was one of the most crucial factors catalyzing the market growth. Since the mandatory restrictions are lifting gradually worldwide, this is anticipated to provide a thrust to the market.
Competitive Landscape with Key Players:
Anheuser-Busch InBev SA/NV, MillerCoors (Molson Coors Brewing Company), Heineken Holdings N.V., Carlsberg Breweries A/S, Diageo plc, Bacardi & Company Limited, Olvi Oyj, Tsingtao Brewery Company Limited, Beijing Yanjing Brewery Co. Ltd., and Kirin Holdings Company, Limited, etc.
Also, Read Biggest Alcoholic Beverages Companies:
Global Alcoholic Beverages Market Trends:
The global market is majorly driven by the growing number of breweries and wineries. Furthermore, the rising trend of socializing among the young population and working professionals is positively influencing the market. Apart from this, the shifting inclination towards flavored alcohol and mixed drinks is aiding the growth of the market. Besides this, the increasing utilization of honey-derived products for manufacturing innovative alcoholic drinks is creating a positive outlook for the market. The market is also driven by the advent of online alcohol distribution channels due to the widespread preference for enhanced convenience among the masses. Some of the other factors providing a boost to the market include the inflating disposable income levels of consumers and the production of alcoholic beverages with natural ingredients to improve their functionality.
Key Market Segmentation:
Breakup by Category:
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Beer
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Wine
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Still Light Wine
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Sparkling Wine
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Spirits
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Baijiu
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Vodka
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Whiskey
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Rum
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Liqueurs
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Gin
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Tequila
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Others
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Breakup by Alcoholic Content:
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High
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Medium
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Low
Breakup by Flavour:
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Unflavoured
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Flavoured
Breakup by Packaging Type:
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Glass Bottles
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Tins
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Plastic Bottles
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Others
Breakup by Distribution Channel:
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Supermarkets and Hypermarkets
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On-Trade
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Specialist Retailers
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Online
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Convenience Stores
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Others
Breakup by Region:
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North America (United States, Canada)
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Europe (Germany, France, United Kingdom, Italy, Spain, Others)
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Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
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Latin America (Brazil, Mexico, Others)
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Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
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Market Performance
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Market Outlook
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Porter’s Five Forces Analysis
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Market Drivers and Success Factors
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SWOT Analysis
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Value Chain
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Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.