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The alcoholic drinks market is estimated to grow at a CAGR of 5.66% between 2022 and 2027 and the size of the market is forecast to increase by 88.96 billion litres. In 2017 the market size was at 233.9 billion liters.
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). It also includes an in-depth analysis of drivers, trends, and challenges.
The growing popularity of the craft alcoholic drinks segment is a significant driver of the global alcoholic drinks market growth. Craft alcoholic beverages, such as craft beer, spirits, and cider, have gained immense popularity among consumers due to their unique taste and flavour. Craft brewers, typically small and independent, offer newer styles and twists on traditional beer. Large established beer companies are likely to launch their own craft beer line or acquire existing brands to gain access to small brewer marketing techniques and distribution networks. Anheuser Busch InBev has already acquired about ten craft breweries, including Wicked Weed Brewing, Golden Road Brewing, and Elysian Brewing. These factors are expected to increase consumer interest in alcoholic drinks, driving the market growth during the forecast period.
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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 alcoholic drinks market. The demand for alcoholic drinks is increasing at a faster rate in developing economies such as India, China, Indonesia, and Singapore. Alcoholic beverage producers' efforts to enhance distribution channels and expand their sales channels, such as online stores and convenience stores, are also significantly contributing to the growth of the market. New product introductions and advancements in alcoholic drinks are boosting the industry's growth.
Another significant driver for this industry includes the rising demand for premium alcoholic drinks. Hence, vendors are focusing more on the premium wine segment. The portfolio included Red Blend, Cabernet Sauvignon, and Rose, each sourced from California Central Coast and North Coast wine-growing regions. 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 global alcoholic drinks market growth. The alcohol industry is under constant threat from the flourishing market of counterfeit alcohol products. Such items can affect the health of consumers to a great extent and lead to heavy revenue losses to manufacturers throughout the globe. Legal alcohols are made from ethanol, and their moderate consumption is considered safe.
However, fake alcohol products are made from other cheap raw materials that cause serious health concerns. Fake alcohol is also called unrecorded alcohol and noncommercial alcohol. Counterfeit items not just damage the brand /image but also hamper sales. The counterfeit/fake alcoholic product market is thriving in many countries and is widely reported through news, social media platforms, public service announcements, and others. These products are bottled and labelled, mimicking the original ones. Vodka is one of the most common counterfeit spirits. 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 Alcoholic Drinks 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 share growth by the offline segment will be significant during the forecast period. Offline refers to locations that sell alcoholic beverages for consumption away from the premises, such as supermarkets, shops, bars, restaurants, hotels, and nightclubs. Offline distribution channels accounted for approximately 95% of overall sales of alcoholic drinks in 2022. In other words, during the pandemic, even as off-premise sales increased and on-premises sales decreased, the overall annual revenue in the market decreased because off-premises establishments were unable to compensate for the revenue losses from on-premise sales.
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The offline segment was valued at 221.89 billion L in 2017 and continue to grow by 2021. Offline alcoholic drink sales have given offline retail stores a pleasant buzz in the last three years, and the pandemic has only increased growth in this area. The offline distribution channel has risen due to increased consumption of alcoholic drinks, changes in customer buying behaviour, and expansion in the market. Thus, this segment is expected to grow, which, in turn, will drive the growth of the market in focus during the forecast period.
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APAC is estimated to contribute 37% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. India is a leading market for whiskey and accounts for the largest share of the whiskey market in APAC. Countries like China, Japan, Australia, India, South Korea, Vietnam, Taiwan, and others are key contributors to the market. India is one of the largest importers of Scotch whiskey after France and the US. China is the most important country and has the largest market for this region. It is expected that China will soon become one of the world's largest markets for tequila. However, stringent government regulations and increased taxes and duties on alcoholic drinks are expected to hinder the market growth.
The outbreak of COVID-19 adversely impacted the market in focus in APAC. However, in 2021, business and manufacturing activities related to alcoholic drinks resumed with the relaxation of stringent lockdown restrictions due to the availability of COVID-19 vaccines and the large-scale vaccination drives carried out by the governments of several countries, such as China, India, and Japan. In addition, improvements in distribution and retail channels have driven the growth of the market in 2022 in the region, and this is expected to continue during the forecast period.
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.
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Alcoholic Drinks Market Scope |
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Report Coverage |
Details |
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Page number |
167 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.66% |
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Market growth 2023-2027 |
88.96 bn L |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
5.42 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 37% |
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Key countries |
US, China, Japan, UK, and Germany |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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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 |
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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 |
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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. |
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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 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
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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