Alcoholic Beverages Market Research Report
Growth opportunities in the Alcoholic Beverages Market look
promising over the next six years. This is mainly due to the growing consumer
demand for premium/super-premium products and ongoing expansion by the leading market
players.
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Alcoholic Beverages Market Dynamics (including
market size, share, trends, forecast, growth, forecast, and industry analysis)
Key
Drivers
The global alcoholic
beverages market is forecasted to witness a notable growth during the
forecast period. The crucial drivers responsible for the market growth include
their robust demand, mainly by the millennial population, accompanied by the
augmenting demand for superior and exclusive products throughout the nation. In
addition, prominent manufacturers are increasingly emphasizing the launch of
novel, sophisticated products to serve the distinct demand of individuals.
Also, the establishment of substitutes, including the drinks derived from the
honey, will allure health-aware consumers. The appealing packaging of these
drinks in containers of different sizes and shapes further strengthens the
market size. For example, enormous producers have launched canned alcohol for
consumers who are seeking an expedient substitute.
The surging focus on quality instead of prices is another
factor supplementing the market growth. However, the widespread outbreak of the
coronavirus pandemic has negatively influenced market sales. The rigorous
lockdown and the temporary halt of bars, restaurants, and liquor shops reduced
the supply of alcohol. Nevertheless, the market is forecasted to get back on
track in 2021 while experiencing a sharp growth from 2022 onwards.
Type Segment
Drivers
Based on the type, the market is segmented into distilled
spirits, wine, and beer. Among these, the distilled spirits are predicted to
lead the market over the forecast period. This is primarily attributed to the
mounting consumption of premium whiskey owing to the virtual switch in
consumer's choice from beer to rums, vodka, and whiskey.
Regional
Drivers
Based on the regional coverage, North America is expected to
dominate the market over the forecast period. This is due to their vigorous
demand by the young adult population. On the other hand, Asia-Pacific is
projected to expand at a higher CAGR during the forecast period owing to their
stimulating demand in developing economies, including China and India.
Furthermore, the accelerating disposable income is driving the alcoholic beverages
market share.
Alcoholic
Beverages Market’s leading Manufacturers:
·
The Wine Group
·
Treasury Wine Estates
·
Remy Cointreau
·
Carlsberg Breweries A/S
·
Asahi Group Holding Ltd.
·
Thai Beverage Public Co., Ltd.
·
Tsingtao Brewery Co Ltd.
·
China Resources beer (Holdings) Company Limited
·
Brown-Forman
·
Accolade Wines
Alcoholic Beverages Market Segmentation:
Segmentation by Type
·
Beer
o
Ale
o
Lager
o
Hybrid
·
Distilled Spirits
o
Rum
o
Whiskey
o
Vodka
o
Others
·
Wine
o
Sparkling
o
Fortified
o
Others
·
Others
Segmentation by Distribution Channel
·
On-Premises
·
Liquor Stores
·
Grocery Shops
·
Internet Retailing
·
Supermarkets
·
Convenience Stores
Segmentation by Region:
·
North America
o
United States of America
o
Canada
·
Asia Pacific
o
China
o
Japan
o
India
o
Rest of APAC
·
Europe
o
United Kingdom
o
Germany
o
France
o
Spain
o
Rest of Europe
·
RoW
o
Brazil
o
South Africa
o
Saudi Arabia
o
UAE
o
Rest of the world (remaining countries of the
LAMEA region)
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