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The Global Alcoholic Beverages Market size is forecast to increase by USD 440.18 billion at a CAGR of 3.5% between 2022 and 2027. This market research and growth report also includes an in-depth analysis of drivers, trends, and challenges. The growth of the market is being driven by the increasing popularity of craft drinks. Craft beers are becoming more popular and many varieties are available. Established beer companies may launch their own line of craft beer or acquire existing brands to expand their marketing techniques and distribution networks. The craft spirits, craft liquor, craft cocktails, and craft cider segments are also growing. Young female consumers prefer craft ciders. The craft spirits segment includes handcrafted and ultra-premium drinks made with traditional techniques. Demand for craft spirits is increasing due to a desire for new flavors and varieties, particularly among Gen-X and Millennial consumers. These drinks are often made with fresh fruits and vegetables and a blend of other ingredients, contributing to the growth of the alcoholic drinks market.
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The market share growth by the beer segment will be significant during the forecast period. This segment has had the highest sales and revenue over the past few years, and it is expected to continue to dominate the market during the forecast period. However, in terms of volume, the beer segment is expected to register a declining growth rate during the forecast period. The reason for this is that the global beer market has reached its state of maturity in North America and Western Europe. Southeast Asia is becoming a promising market for beer producers, owing to the presence of a young population, high economic growth, and lower levels of alcoholic beverage consumption than developed countries.
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The beer segment showed a gradual increase in market share of USD 891.11 billion in 2017 and continued to grow by 2021. International vendors such as Heineken and Carlsberg Breweries AS (Carlsberg) are continuously expanding their businesses in this region by acquiring various dominant local brands. In addition to this, the increasing preference for premium drinks and the rising demand for newer varieties and flavors of alcoholic beverages among consumers, especially Millennials, have also led to a declining growth rate in the beer market. Stringent government regulations related to imports and distribution also act as barriers to the growth of the global beer market during the forecast period. Furthermore, our report provides a brief analysis of the historical and forecast market share and their segments along with the reasons for growth from 2017 to 2027.
The growth of this segment is primarily attributed to the increasing adoption of alcoholic drinks by residential consumers, which is driven by an increase in the global demand.
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Europe is projected to contribute 32% of the market's growth by 2027. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The market in the region is driven by steady growth in Eastern Europe. Breweries are one of the largest businesses in many European countries and generate huge opportunities for employment. France, Germany, Russia, the UK, Belgium, Romania, and Poland are some of the key alcoholic beverage-consuming countries in Europe.
The market offers a wide array of traditional beers, wines, and other alcoholic drinks, crafted through fermenting grains, fruits, sugars, tubers, plant saps, honey, and even milk, adhering to regulations that include warning labels indicating alcohol content percentage, while also embracing environmental responsibility with options such as organic wines and biodynamic wines packaged in eco-friendly solutions, reflecting local special circumstances and cultural and religious factors shaping the wine culture and beer market worldwide. 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.
The trend of this market is being influenced by the increasing consumption of alcoholic drinks, particularly in developing economies like India, China, Indonesia, and Singapore. There is a rising demand for premium alcoholic drinks, which is driving the industry forward. To meet this demand, alcoholic beverage producers are enhancing their distribution channels and expanding sales to online and convenience stores. These efforts are significantly contributing to the growth of the market.
Innovations and new product launches in alcoholic beverages are also fueling market growth. For example, in January 2020, Constellation Brands Inc introduced its Unshackled luxury wine brand across the US through its Prisoner Wine Company brand. These factors are expected to continue supporting the growth of the market in the forecast period.
The prominence of counterfeit products may impede the market growth. This industry is under constant threat from the flourishing market for counterfeit alcoholic beverages. Such items can affect the health of consumers to a great extent and lead to heavy revenue losses for manufacturers across the world. These products are bottled and labeled, mimicking the original ones. Vodka is one of the most common counterfeit spirits.
In China, there have been several cases of illegal sales of homemade rice wines, which is slowing down the growth of the organized wine market. In addition, there have been incidents where many old, used, and empty wine bottles were being purchased and filled with spurious alcoholic beverages, which were then passed off as branded liquor. Thus, it is important to combat the growth of counterfeit alcoholic beverages, 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 Alcoholic-Beverages Market Customer Landscape
Vendors 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 vendors, including:
Qualitative and quantitative analysis of vendors 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 vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market encompasses a wide array of products derived from various sources like ethanol obtained through fermenting grains, sugar, and other ingredients such as tubers, plant saps, honey, and even milk. With each beverage, consumers are met with varying alcohol content percentages that are often accompanied by warning labels. While traditional ingredients like malted barley and hops are commonly associated with beer production, crushed grapes dominate wine-making. Increasingly, there's a shift towards environmental responsibility with the emergence of organic wines and biodynamic wines, often presented in eco-friendly packaging solutions. Local special circumstances and cultural factors, including wine culture and religious factors, further influence consumer preferences in this dynamic market.
Alcoholic consumption involves the consumption of beverages containing ethanol, a product of the fermentation process facilitated by yeasts and sometimes bacteria. This process converts carbohydrates into ethanol and carbon dioxide. The production of various alcoholic beverages such as whiskey and liquors often involves distillation. However, excessive consumption can lead to alcoholism and health issues like heart disease, hypertension, stroke, cirrhosis, alcoholic hepatitis, fatty liver, and various cancers. Moreover, alcohol abuse is associated with increased risks of accidents and cardiovascular diseases. Despite these risks, the market continues to offer diverse products, including ready-to-drink cocktails and premium cocktails, catering to consumer preferences.
The 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.
Alcoholic-Beverages Market Scope |
|
Report Coverage |
Details |
Page number |
162 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.5% |
Market growth 2023-2027 |
USD 440.18 billion |
Market structure |
USD Fragmented |
YoY growth 2022-2023(%) |
2.5 |
Regional analysis |
Europe, APAC, North America, South America, and Middle East and Africa |
Performing market contribution |
Europe at 32% |
Key countries |
US, Canada, China, France, and Germany |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Anheuser Busch InBev SA, Asahi Group Holdings Ltd., Bells Brewery Inc., Carlsberg AS, Constellation Brands Inc., D.G. Yuengling and Son Inc., Davide Campari Milano NV, Deschutes Brewery, Diageo Plc, FIFCO USA , Heineken NV, Kirin Holdings Co. Ltd., Molson Coors Beverage Co., New Belgium Brewing Co. Inc., Pernod Ricard SA, Stone Brewing Co. LLC, Suntory Beverage and Food Ltd., Treasury Wine Estates Ltd., Victory Brewing Co., and Yanghe Distillery Co. Ltd. |
Market dynamics |
Parent market analysis, 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 market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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