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

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.