As per the MRFR reports, the global alcoholic beverages market is estimated to reach USD 2674.63 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 2.4% during the forecast period (2023 - 2030).
Alcohol is an odorless liquid derived from the fermentation of sugar. A varied selection of compounds is added in alcohol, but ethyl is considered the food-grade alcohol in most alcoholic beverages. The market for alcoholic beverages is considered one of the most profitable markets worldwide. The global alcoholic beverages market has recorded enormous growth in the past few years. The market's growth is primarily being driven by the rise in demand for alcoholic beverages.
Furthermore, the growth in the per capita income of consumers across the globe and the rise in urbanization is likely to catalyze the growth of the alcoholic beverages market over the forecasted timeframe. Moreover, the factors such as the surge in the youth population and the growing trend of drinking are also estimated to propel the growth of the alcoholic beverages market over the review timeframe. However, the increasing risk from healthy and organic beverages and increased health-conscious behavior among individuals may impede the market's growth over the coming years. Nevertheless, introducing new flavors and varieties across the global market may offer lucrative opportunities over the assessment era.
Segment Analysis
The global market for alcoholic beverages has been fragmented into several segments based on type, distribution channel, and region.
Based on type, the global market for alcoholic beverages is split into wine, distilled spirits, beer, and others.
The global alcoholic beverages market is divided into non-store-based and store-based channels based on the distribution channel.
Competitive Analysis
The alcoholic beverages market has a strong and competitive landscape. The growing demand for alcoholic products across the globe is causing increased overall attractiveness of the global market. Numerous market players are likely to expand their share to the net global market share over the projected era. The list of leading key alcoholic beverages market players includes Anheuser Busch InBev., Beam-Suntory, Diageo Plc., Carlsberg Group, Constellation Brands, Heineken Holding Nv, Accolade Wines, and several others.
Regional Analysis
The global market for alcoholic beverages is examined across five prime regions: Asia-Pacific, Europe, North America, South America, and the Middle East Africa.
As per the research reports by MRFR, the Asia-Pacific region is anticipated to present the highest growth over the review timeframe. The emergence of nations such as China and India as the leading markets across the globe is the primary cause of an upsurge in the regional market's growth.
The European region is likely to exhibit praiseworthy growth in the global market for alcoholic beverages over the forecasted era. As per the report, prominent market players across the region are the primary aspect propelling the regional market's growth.
Recent Developments
- January 2022 – Molson Coors, a major beer maker, and Coca-Cola have joined forces to roll out the latest lemonade-flavored alcoholic drink. Spiked Lemonade will be launched to the market this summer with every variety pack containing four flavors— blueberry lemonade, watermelon lemonade, strawberry lemonade, and Lemonade. The drinks will be provided in 12-ounce slim cans simultaneously, as other select flavors will be available in 24-ounce cans. The drink is the second alcoholic flavored drink produced by the joint forces of Molson Coors and Coca-Cola Company. The two companies partnered to introduce Topo Chico Hard Seltzer last year.
- February 2022- BEAT Cocktails is ready to introduce carbonated gin-based cocktails in Delhi. The brand's fashioned cocktails are a lighter, healthier alternative to conventional alcoholic beverages and come in unique flavor mixes like Cucumber Ice, Watermelon Crush, and BEAT Original to serve the consumer's palette.
The concept makes the cocktail drinking experience value for money, memorable, and convenient. The cocktail blends are the company's exclusive concoctions made with various flavors selected to make their distinct mixes.
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