USD 1624 billion
Alcoholic Beverages Market Size, Share, Growth Analysis, By Product Type (Beer, Wine), By Alcohol Content (High, Medium), By Flavor (Unflavored, Flavored), By Packaging Type (Glass Bottles, Tins), By Distribution Channel (On-Trade, Off -Trade), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30C2129 |
Region:
Global |
Published Date: February, 2024
Pages:
242
|Tables:
99
|Figures:
76
Alcoholic Beverages Market Insights
Global Alcoholic Beverages Market size was valued at USD 1542.09 billion in 2022 and is poised to grow from USD 1579.10 billion in 2023 to USD 1909.01 billion by 2031, growing at a CAGR of 2,4% during the forecast period (2024-2031).
Alcoholic beverages are a broad category of beverages that contain varying amounts of alcohol. Global alcoholic beverages market is expanding owing to growing young population, rising middle-class income, and strong economy. Furthermore, technological advancements in the production of vodka, flavoured wine, beer, and cocktails, as well as changing consumer lifestyles, beverage tastes, and increase in the number of breweries and wineries worldwide, are major drivers of the market expansion. Although most civilizations have historically consumed a variety of alcoholic beverages, the vast majority of consumption now is of regional speciality alcoholic beverages. Few have progressed sufficiently to be mass-produced as commodities. Worldwide, distilled drinks including wine created from grapes, beer made from barley, and other alcoholic beverages are traded as commodities. These beverages' costs of manufacture and the tariffs imposed on those costs have an impact on their cost. According to price elasticities, prices have varied effects in various countries and throughout various time periods. The rise in young adults is one of the key factors anticipated to fuel the market for alcoholic beverages over the forecast period. The demand for premium and super-premium products is also expected to expand, which will fuel the market for alcoholic beverages. Further predicted to temper the growth of the alcoholic beverages market is the rise in awareness of the negative effects of low alcohol intake. On the other hand, it is anticipated that the market for alcoholic beverages will experience slower growth during the timeframe due to the rising cost of premium and ultra-premium products.
US Alcoholic Beverages Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Glass Bottle
Fastest Growth
Glass Bottle
Growth Rate
2.2% CAGR
Global Alcoholic Beverages Market 2021-2028 ($ Mn)
Country Share for North America Region- 2021 (%)
To get more reports on the above market click here to Buy The Report
Alcoholic Beverages Market Segmental Analysis
Global Alcoholic Beverages Market is segmented by product type, alcoholic content, flavor, packaging type, distribution channel and region. Based on product type, the market is segmented into beer, wine, spirits. Based on alcoholic content, the market is segmented into high, medium, low. Based on flavor, the market is segmented into unflavored, flavored. Based on packaging type, the market is segmented into glass bottles, tins, plastic bottles, others. Based on distribution channel, the market is segmented into on-trade, off-trade. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Alcoholic Beverages Market Analysis by Product Type
Based on product type, the beer segment dominated the global alcoholic beverages market. The segment provides a wide range of ales, German-style altbiers, and ordinary bitter special types of beer. The growing popularity of California common beer is expected to drive market growth in the coming years. The rising demand for Belgian-style Flanders to provide B-group vitamins will boost beer sales during the forecast period.
In 2021, the wine segment had the second highest revenue share in the global market. Wine has numerous health benefits; it contains antioxidants that promote longevity, which is a major factor in the segment's rapid growth. To promote health, wine can also help protect against harmful inflammation and heart disease. Furthermore, red wine contains more antioxidants, which help to lower the risk of heart disease and prevent coronary artery disease; these are the factors driving the wine segment growth during the forecast period.
Alcoholic Beverages Market Analysis by Distribution Channel
In 2021, the liquor stores segment accounted for a significant revenue share. Rapid urbanization in emerging economies will create an interconnected network of liquor stores. The growing trend of consumers adopting Western culture is expected to fuel the growth of the alcoholic beverages market. Domestic liquor stores provide a diverse portfolio of alcoholic beverages at a lower cost, which boosts segmental growth. Several governments around the world are taking steps to reduce the complexity of liquor licenses, which will propel market growth..
Global Alcoholic Beverages Market By Packaging, 2021 (%)
To get detailed analysis on other segments, Request For Free Sample Report
Alcoholic Beverages Market Regional Insights
North America dominated the global alcoholic beverages market in 2021, accounting for a revenue share of more than 33.0% due to rising demand for polished malt scotch whiskey in the United States and Canada. The growing trend in the United States to adopt classic alcoholic beverage brands such as Arnold Palmer Spiked Half & Half, Bergen bier, and Burgasko will aid market growth. Furthermore, private sector funding in Canada to acquire premium alcoholic beverages is expected to boost market growth.
The alcoholic beverages market in Asia Pacific is anticipated to grow at a double-digit CAGR. This is due to the rising demand for agave-based spirits from developing nations like China and India to meet the need for alcoholic drinks. The consumption of regional alcoholic beverages including black label, VAT69, and McDowell's whiskey, is becoming more popular in India, which is boosting the market expansion. The fastest growth rate is anticipated to be seen throughout the projected period in China, where beer, gin, and tequila flavours are becoming increasingly popular.
From 2022 to 2028, the market in Europe is expected to see the 2nd-fastest CAGR. Alcoholic beverages are mostly produced and consumed throughout Europe. Anheuser-Busch InBev SA/NV, Diageo Plc, and Carlsberg A/S are three of the market's major participants, and they all employ a variety of marketing techniques to stay competitive.
Global Alcoholic Beverages Market By Geography, 2021 - 2028
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Alcoholic Beverages Market Dynamics
Alcoholic Beverages Market Driver
- People in emerging economies are experimenting with new forms of entertainment, such as attending nightclubs and bars, as a result of rising disposable incomes and an increase in the urban population. Alcohol sales are also fuelled by young individuals who have wealthy families, substantial social media influence, and easy access to alcoholic beverages. Due to stressful employment and the idea that drinking alcohol relaxes the mind, there is an increase in alcohol intake in metropolitan regions. New flavours are frequently added to alcoholic beverage products by producers. Customers are curious about these items, which are appropriate for the alcoholic beverage sector that encourages them to test them out, especially millennials.
- Beer and dark liquor were in more demand during the COVID-19 pandemic. To boost the market's sales statistics, the major companies in the alcoholic beverage industry are analysing internet retailing from the e-commerce platform. This kind of procedure was increasing the product's commercial possibility, which can afterwards spur market expansion.
- The market for alcoholic beverages is expected to expand due to the increased demand for artisanal spirits in developing nations like China and India. The market will soon have a chance to capitalize on the rising demand for value-added hard seltzer products at competitive prices. The growing preference for non-alcoholic beverages is impeding industry expansion, too. To maintain human health, major players are currently concentrating on the release of cordials and alcoholic beverages with lower alcohol content.
Alcoholic Beverages Market Restraint
- Growing preference for non-alcoholic beverages is impeding market growth. Furthermore, in order to start a new business in the alcoholic beverages industry, vendors must invest a significant amount of capital and resources, as well as obtain government legal certifications. As a result, all of the above factors may require a significant amount of processing time, further limiting the growth of the alcoholic beverage market. Furthermore, rising health-consciousness among consumers will limit overall market growth during the forecast period..
Request Free Customization of this report to help us to meet your business objectives.
Alcoholic Beverages Market Competitive Landscape
Companies are primarily focused on launching old-aged rum products in order to meet the growing demand for alcoholic beverages. The primary players are focused on preserving the peculiar taste of alcoholic beverages. However, implementing e-commerce sales methodologies presents its own set of challenges and constraints. Several companies are aiming to expand and launch premium beer products in the alcoholic beverage market.
Alcoholic Beverages Market Top Player's Company Profiles
- Anheuser-Busch InBev (Belgium)
- Asahi Group Holdings, Ltd. (Japan)
- Accolade Wines (Australia)
- Bacardi (Bermuda)
- Brown-Forman (US)
- Carlsberg (Denmark)
- CASTEL FRÈRES (France)
- Constellation Brands, Inc. (US)
- Diageo (UK)
- Halewood Sales (UK)
- Heineken Holding N.V. (Netherlands)
- Mike's Hard Lemonade Co. (US)
- Miller Brewing Co. (US)
- Molson Coors Beverage Company (US)
- Pernod Ricard (France)
- Suntory Holdings Limited (Japan)
- Blossoms Aroma Private Limited (India)
- United Spirits Limited (Food and Beverage Manufacturing) (India)
- Kals Distilleries Private Limited (India)
- Ashoka Distillers & Chemicals Private Limited (India)
Alcoholic Beverages Market Recent Developments
- In January 2022, Constellation Brands, Inc., a significant manufacturer of alcoholic beverages, inked a brand permission agreement with The Coca-Cola Company to introduce the FRESCA® brand into beverage alcohol in the United States.
- In June 2022, Bacardi, the largest privately held spirits company in the world, expanded its pioneering TAILS® COCKTAILS PROFESSIONAL range with new cocktails and a new look, available now for the hospitality industry across Western Europe.
Alcoholic Beverages Key Market Trends
- Low- and no-alcohol beverages are becoming more popular, driven by sober drinkers' curiosity and contemporary social media ads. Studies show that these trends are here to stay, and major retailers like Whole Foods are exhibiting fashionable no- and low-calorie products in their top line-ups for 2022. Local breweries are also experimenting with non-alcoholic beer and other drinks.
- Since a few years ago, the popularity of beverages like kombucha has been constantly rising, and 2022 is no exception. Health is being prioritised by more people than ever before, and probiotic-rich fermented beverages like kombucha and water kefir are becoming increasingly popular.
- The premium alcohol market has more opportunity due to rising health consciousness among consumers, which encourages the use of healthy and natural ingredients. In the recent past, the foodservice industry experienced enormous revenues, with a significant portion of those sales coming from premium alcoholic beverages, particularly premium wine and whiskey.
Alcoholic Beverages Market SkyQuest Analysis
SkyQuest’s ABIRAWA (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research
According to our analysis, Global Alcoholic Beverages Market is expanding owing to growing young population, rising middle-class income, and a strong economy. Furthermore, technological advancements in the production of vodka, flavored wine, beer, and cocktails, as well as changing consumer lifestyles, beverage tastes, and an increase in the number of breweries and wineries worldwide, are major drivers of the alcoholic beverages market expansion..
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 1542.09 billion |
| Market size value in 2031 | USD 1909.01 billion |
| Growth Rate | 2,4% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Alcoholic Beverages Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Alcoholic Beverages Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Alcoholic Beverages Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Alcoholic Beverages Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Alcoholic Beverages Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Alcoholic Beverages Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
USA (+1) 351-333-4748
