What is the global market size of Alcoholic Beverages Market?

Global Alcoholic Beverages Market size was valued at USD 1624 billion in 2021 and is poised to grow from USD 1659.73 billion in 2022 to USD 2018.81 billion by 2030, growing at a CAGR of 2.2% in the forecast period (2023-2030).

Alcoholic Beverages Market Size, Share, Growth Analysis, By Product Type( Beer, Distilled Spirits, Wine, others), By Packaging(Plastic Bottles, Glass Bottles, Tins), By Distribution Channel(Modern Trade, Convenience Stores, Specialty Stores, Online Retailers), By Region - Industry Forecast 2024-2031

Q: Which region accounted for the largest share in Global Alcoholic Beverages Market?

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.

Report ID: SQMIG30C2129 | Region: Global | Published Date: February, 2024
Pages: 242 | Tables: 99 | Figures: 76

Alcoholic Beverages Market News

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.

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Alcoholic Beverages Market size was valued at USD 1624 billion in 2019 and is poised to grow from USD 1659.73 billion in 2023 to USD 2018.81 billion by 2031, growing at a CAGR of 2.2% in the forecast period (2024-2031).

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. 'Anheuser-Busch InBev', 'Diageo plc', 'Heineken Holding N.V.', 'Molson Coors Beverage Company', 'Pernod Ricard SA', 'Carlsberg A/S', 'Asahi Group Holdings, Ltd.', 'Constellation Brands, Inc.', 'Bacardi Limited', 'Brown-Forman Corporation', 'Beam Suntory Inc.', 'SABMiller plc (part of Anheuser-Busch InBev)', 'Kirin Holdings Company, Limited', 'Accolade Wines', 'Treasury Wine Estates', 'The Wine Group', 'Grupo Modelo S.A. de C.V. (part of Anheuser-Busch InBev)', 'Molson Coors Brewing Company (formerly MillerCoors LLC)', 'Rémy Cointreau SA', 'William Grant & Sons Ltd.'

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.

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.

North America dominated the 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.

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