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The alcoholic drinks market size is forecast to increase by USD 728.9 billion, at a CAGR of 7% between 2024 and 2029.
The alcoholic drinks industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.
The liquor stores segment is estimated to witness significant growth during the forecast period. The liquor stores segment holds a significant position in The market, acting as specialized retailers catering to consumers seeking a wide array of spirits, wines, and beers. Operating in both urban and rural areas, they serve as a primary channel for procuring alcoholic beverages, offering curated selections, dedicated customer service, and a tailored shopping experience. Liquor stores adhere to specific regulations and licensing requirements, shaping their operational structures. In the market, liquor stores contribute substantially to distribution and accessibility. They provide consumers with a diverse range of product varieties, including premium products, flavored alcohol, light alcoholic beverages, and non-alcoholic drinks.
Consumer preferences for product innovation, health awareness, and natural or exotic ingredients continue to shape market trends. The alcoholic beverages market encompasses various segments, including convenience stores, specialty stores, online retailers, commercial stores, on-premises, and grocery shops. Internet retailing, craft beer, online platforms, hybrid beverages, sparkling wine, fortified wine, and premium alcoholic beverages are other notable segments. The beer market, wine market, and spirits market each exhibit unique growth dynamics, influenced by factors such as social media influence, urban areas, high-pressure jobs, and health consciousness. Alcoholic beverage manufacturers continue to innovate, offering low alcohol content and packaging formats to cater to evolving consumer preferences.
Alcoholic beverages, including flavored wine, premium alcoholic beverages, and super-premium alcoholic beverages, are popular choices for night parties and various social occasions. However, health concerns, such as chronic illnesses like high blood pressure, heart disease, liver disease, and digestive issues, influence consumer choices and market trends. The liquor stores segment plays a crucial role in The market, offering a specialized retail experience and contributing significantly to distribution and accessibility. Consumer preferences, product innovation, and health awareness continue to shape market trends across various segments, including beer, wine, and spirits.
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The liquor stores segment was valued at USD 799.30 billion in 2019 and showed a gradual increase during the forecast period.
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.
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The market in APAC is experiencing significant growth due to increasing disposable income, Westernization, and lifestyle changes. India is a significant contributor to this market, particularly in the whiskey segment, which holds a substantial share in APAC. Key countries, including China, Japan, Australia, South Korea, Vietnam, Taiwan, and others, are also driving market expansion. India ranks as the second-largest importer of Scotch whiskey, following France and the US. Consumer preferences lean towards premium and super-premium spirits, with millennials showing a notable inclination. Product innovation, health awareness, and the rise of online sales further influence market trends. The market encompasses beer, wine, spirits, flavored alcohol, non-alcoholic beverages, and others.
Packaging formats, such as plastic bottles and glass bottles, cater to diverse consumer preferences. Online platforms, convenience stores, specialty stores, liquor stores, grocery shops, and commercial stores are key distribution channels. Health consciousness and chronic illnesses, including high blood pressure, heart disease, and liver disease, are influencing consumer choices. Distilled spirits, craft beer, fortified wine, sparkling wine, and hybrid beverages are popular categories. Alcoholic content, natural and exotic ingredients, and social media influence are shaping market dynamics.
Our researchers analyzed the data with 2024 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The alcoholic drinks market forecasting 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 alcoholic drinks market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, alcoholic drinks market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
Aceo Ltd. - The company offers alcoholic drinks such as The Glenlee whisky, Coleburn Selection and Emerald Isle.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key 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 industry 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 encompasses a wide array of product categories, including beer, wine, and spirits, each exhibiting unique market dynamics. These beverages are retailed through various channels, such as convenience stores, specialty stores, commercial stores, on-premises establishments, and online retailers. Beer, a popular choice among consumers, continues to dominate the market due to its wide appeal and versatility. Consumers' preferences for product varieties, including craft beer and flavored beer, drive innovation within the beer market. Wine, another significant segment, is experiencing growth due to the increasing popularity of sparkling wine and fortified wine. The spirits market, which includes premium products like whiskey and vodka, benefits from the health-conscious trend, with consumers opting for super-premium alcoholic beverages.
Further, the emergence of hybrid beverages, which combine alcoholic and non-alcoholic components, offers an intriguing alternative for consumers seeking to reduce their alcohol intake. Non-alcoholic beverages, including energy drinks and non-alcoholic spirits, cater to the growing health and well-being trend. These beverages address various health concerns, such as chronic illnesses like high blood pressure, heart disease, and liver disease, as well as digestive issues. The advent of online platforms and sales channels has significantly impacted the alcoholic beverages industry. Consumers' increasing reliance on the internet for purchasing alcoholic beverages, particularly during the pandemic, has led to a wave in online sales.
Additionally, the convenience and accessibility offered by online retailers have attracted a younger demographic, including the youth population. Product innovation remains a key driver in the alcoholic beverages market. Manufacturers continue to introduce new product lines, focusing on natural and exotic ingredients, to cater to evolving consumer preferences. The use of sustainable packaging formats, such as plastic and glass bottles, further enhances the appeal of these products. Health awareness and concerns regarding alcohol poisoning have led to a growing trend toward low-alcohol and light-alcoholic beverages. Social media influence and urban areas, characterized by high-pressure jobs, contribute to the popularity of these beverages among the younger population.
Market Scope |
|
Report Coverage |
Details |
Page number |
207 |
Base year |
2024 |
Historic period |
2019-2023 |
Forecast period |
2025-2029 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7% |
Market Growth 2025-2029 |
USD 728.9 billion |
Market structure |
Fragmented |
YoY growth 2024-2025(%) |
6.8 |
Key countries |
US, China, Germany, Japan, UK, India, Canada, France, South Korea, and Italy |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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1 Executive Summary
2 Technavio Analysis
3 Market Landscape
4 Market Sizing
5 Historic Market Size
6 Qualitative Analysis
7 Five Forces Analysis
8 Market Segmentation by Distribution Channel
9 Market Segmentation by Type
10 Customer Landscape
11 Geographic Landscape
12 Drivers, Challenges, and Opportunity/Restraints
13 Competitive Landscape
14 Competitive Analysis
15 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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