Enjoy complimentary customisation on priority with our Enterprise License!
The alcoholic drinks market is estimated to grow by 88.96 billion at a CAGR of 5.66% between 2022 and 2027. The growth of the animal health market is influenced by several factors. Firstly, there is a rising popularity of the craft segment, which caters to niche markets and emphasizes quality and unique offerings. Additionally, there is an uptick in mergers and acquisitions within the industry, driven by companies seeking to expand their market reach and product portfolios. Furthermore, an increase in marketing and promotional activities has been observed, aimed at raising awareness and driving demand for animal health products and services. These factors collectively contribute to the overall growth and development of the animal health market. As the craft segment gains popularity, it opens up new avenues for growth and innovation within the animal health market. The trend of mergers and acquisitions reflects a strategic approach by companies to strengthen their market position and capitalize on emerging opportunities. Increased marketing and promotional activities are essential for building brand awareness and driving consumer engagement, ultimately fueling market expansion.
Moreover, the growing popularity of the craft alcoholic drinks segment is a significant driver of the market growth. The alcoholic beverages market encompasses a range of products, including distilled spirits, beer, and Champagne. Among these, craft alcoholic beverages, such as craft beer and craft spirits, have gained significant popularity due to their unique flavors and distinct tastes. Consumers increasingly prefer these options over traditional beverages for their variety. However, it is essential to note that excessive consumption of alcoholic beverages, particularly distilled spirits, can lead to various health issues, including high blood pressure, heart disease, stroke, liver disease, and digestive issues. Beer taprooms offer consumers a chance to sample and purchase fresh, small-batch brews directly from the source. These factors are expected to increase consumer interest in alcoholic drinks, driving the market growth during the forecast period.
To get additional information about the market, Buy Report
This report extensively covers market segmentation by distribution channel (offline and online), type (beer, wine, spirits, RTD pre-mixes, and cider), and geography (APAC, Europe, North America, South America, and Middle East and Africa).
The market share growth by the offline segment will be significant during the forecast period. The market, including brands like Constellations, has seen significant growth in off-trade channels, such as supermarkets and bars, accounting for approximately 95% of sales in 2022. Despite the pandemic's impact on on-trade sales, offline sales of gin, premium whiskey, and vodka, among others, have continued to rise due to health consciousness and the appeal of natural and exotic ingredients. However, concerns over alcohol poisoning and chronic illnesses have led to increased demand for low-alcoholic content, flavorful beverages, and non-alcoholic options.
For a detailed summary of the market segments BUY REPORT
The offline segment was valued at 221.89 billion L in 2017. Urbanization and high-pressure jobs have fueled socializing trends, with night parties, lounges, and social media influence driving sales in urban areas. Brewers and wineries produce premium and super-premium alcoholic beverages, catering to millennials' preferences for water, sugar, herbs, spices, fragrance, and flavored wine. Online stores offer a wide range of cocktails and brews, further expanding market reach.
For further insights about regional markets,Request PDF Sample now!
APAC is estimated to contribute 37% to the growth of the global market during the forecast period. The APAC region, spearheaded by countries such as China, Japan, Australia, India, South Korea, Vietnam, Taiwan, and others, is the fastest-growing market for alcoholic beverages. Factors driving this growth include rising disposable incomes, Westernization, globalization, and lifestyle changes. Millennials, in particular, are fueling the demand for premium spirits like whiskey and vodka from Constellation Brands and other manufacturers. India, a leading market for whiskey, is also a significant importer of Scotch whiskey. Gin, ale, and hybrid drinks are gaining popularity due to their unique flavors and natural or exotic ingredients. Health consciousness, however, is leading to a rise in non-alcoholic drinks, energy drinks, and premium alcoholic beverages. Urbanization and high-pressure jobs contribute to socializing through night parties, lounges, and social media influence. Alcoholic content, flavor, and alcoholic beverages like cocktails, brewers, wineries, and flavored wine are essential aspects of this market. Premium and super-premium alcoholic beverages are in high demand, with consumers seeking water, sugar, herbs, spices, fragrances, and other natural elements. Alcoholic content, however, remains a concern due to the risk of alcohol poisoning and chronic illnesses. On-trade and off-trade sales, as well as online stores, cater to the diverse needs of consumers. Urban areas and socializing continue to be key drivers of the market, with consumers seeking new experiences and unique offerings.
The market encompasses a wide range of beverages, including Wine, Spirits, Unflavored and Flavored varieties, Premium and Super-premium offerings, and Craft Beer. This market caters to diverse consumer preferences and occasions, such as Convenience Stores for everyday needs, Specialty Stores for niche products, Online Retailers for convenience, Hotels for hospitality, and Bars, Lounges, and Night parties for socializing. Product varieties span from Mild-lager beer and Microbreweries to Pubs, Restaurants, and Breweries. Constellations Brands, a leading player, offers an extensive portfolio of Premium and Super-premium alcoholic beverages, including Whiskey, Gin, Vodka, and Flavored Wine. Cocktails, Brewers, Wineries, and Distilleries further expand the market landscape. Urbanization and changing consumer trends continue to fuel growth in this dynamic industry. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help stakeholders in the value chain refine their marketing strategies to gain a competitive advantage.
Increasing consumption of alcoholic drinks is the primary trend shaping the market. In developing economies like India, China, Indonesia, and Singapore, the market for distilled spirits, Champagne, and beer is experiencing a notable surge. Factors fueling this growth include the increasing preference for premium alcoholic beverages and the expansion of sales channels, including online stores and convenience outlets. New product launches and innovations continue to drive industry advancements. For instance, Constellation Brands Inc.'s Prisoner Wine Company introduced Unshackled, a luxury wine brand, in the US market in January 2020. However, it is essential to acknowledge potential health concerns, such as high blood pressure, heart disease, stroke, liver disease, and digestive issues, associated with excessive alcohol consumption. Beer taprooms offer a more controlled environment for consumers to enjoy their beverages responsibly. Such initiatives by prominent players is expected to drive the growth of the market in focus during the forecast period.
The prominence of counterfeit products is a key challenge negatively impacting the market growth. The market faces significant challenges from the proliferation of counterfeit alcoholic beverages. These unauthentic products, made from substandard raw materials, pose serious health risks, including the potential for increased instances of high blood pressure, heart disease, stroke, liver disease, and digestive issues. Distilled spirits, such as whiskey and gin, as well as luxury items like Champagne, are particularly vulnerable to counterfeiting. The rise of counterfeit alcohol not only harms consumer health but also negatively impacts sales and brand reputation for legitimate manufacturers. Beer taprooms and other establishments serving alcoholic beverages must remain vigilant to protect their customers and their businesses from the harmful effects of counterfeit products. Thus, it is very necessary to combat the growth of counterfeit alcoholic drinks as it can hamper the growth of the market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The Alcoholic Drinks market encompasses a variety of beverages, including Spirits, Unflavored and Flavored Premium Bottled Waters, Plastic Bottles, Glass Bottles, Tins, Cans, Convenience Stores, Online, and On-premises locations. Brands offer a range of Beverages, such as Beers, Bottled Waters, and Soft Drinks, in addition to Spirits like Vodka, Whiskey, and Brandy. Premium brands often utilize Strategies like Craft, Local, and Organic positioning to differentiate themselves in the market.
Furthermore, retailers employ various Retailers like Milk and Liquor Stores, Convenience Stores, and Supermarkets to sell these products. Brands also focus on creating engaging Branding and Marketing efforts, such as Sponsorships, Product Placement, and Advertising, to capture consumer attention. Beverage producers invest in Research and Development to create innovative and unique products, such as Sparkling Wines and Flavored Vodkas, to cater to evolving consumer preferences.
Market Scope |
|
Report Coverage |
Details |
Page number |
167 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.66% |
Market growth 2023-2027 |
88.96 bn L |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.42 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 37% |
Key countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Aceo Ltd., Allied Blenders and Distillers Pvt. Ltd., Anheuser Busch InBev SA NV, Anora Group Plc, Bacardi Ltd., Bronco Wine Co., Brown Forman Corp., Carlsberg Breweries AS, Constellation Brands Inc., Diageo Plc, E. and J. Gallo Winery, Heineken NV, Molson Coors Beverage Co., Pernod Ricard SA, Suntory Holdings Ltd., The Boston Beer Co. Inc., The Edrington Group Ltd., The Wine Group LLC, Treasury Wine Estates Ltd., and Vina Concha y Toro SA |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.