Alcoholic Beverages Market 2022 - Market Size & Forecast, Industry Trends, Manufacturers Analysis, & Opportunities 2030

Introduction: -

Alcoholic beverages are rejuvenating and recreational drinks made by mixing fermented grains, fruits, and sugar with ethanol. The flavor and alcoholic content of these beverages are determined by their storage age and the type of container they are fermented in. The global alcoholic beverages market involves the sales of alcoholic beverages by players who produce alcoholic beverages such as beer, wine, brandy, and spirits via the fermentation process and package and distribute them through various distribution channels to commercial establishments and individual customers. The alcoholic beverages market is predicted to amass growth at a compounded annual growth rate (CAGR) of 7.0% during the forecast period of 2022-2030.

Growth Drivers:

Over the last few years, the demand from consumers for unique and innovative drinking experiences has surged exponentially. This is resulting in a greater emphasis of manufacturers towards experimentation with several varieties of flavored alcohols and mixed beverages.  Manufacturers are offering ready-to-mix hybrid beverages using different & unique flavor combinations, ingredients, and production methods from multiple drinks and are also mainly focusing on including exotic fruits to enhance the overall health profile of their products. They are also looking to innovate on aroma components in alcoholic beverages. Absolut Tune (vodka and sparkling wine), Malibu Red (rum and tequila), and Kahlua Midnight (rum and Kahlua) are some of the currently available hybrid beverages. These growing innovations by market players and the increasing curiosity among consumers to try these products is expected to significantly boost the growth of the global alcoholic beverages market during the forecast period.

Moreover, the population base across the globe is rising at a rapid rate. In order to fulfill the growing alcohol demand from the increasing population, farming activities and the production of crops are also growing, which is fueling the growth of the global alcoholic beverages market.

Also, the number of online alcoholic beverages suppliers, especially across the developing regions, is also emerging at a stupendous rate. The increasing internet penetration, the growing working-class population, and high economic growth in countries are primarily driving the industry across regions. This is also a major expected to augment the growth of the global alcoholic beverages market in the next few years.

Furthermore, the rising global young–adult demographic, the surging disposable incomes, the rapidly changing lifestyles and beverage preferences of consumers, the growing number of breweries and wineries across the globe, the proliferating demand for premium and super-premium alcoholic beverages, the escalating trend of socializing and mid-week/weekend parties among young and working professionals, and the fast-paced expansion of the food and beverage industry worldwide are among other significant factors contributing to the growth of the global alcoholic beverages market.

On the other hand, the growing nonalcoholic beverages market, due to increased health concerns and the high cost of premium/super-premium products, is anticipated to hamper the growth of the alcoholic beverages market to some extent during the forecast period.

Alcoholic Beverages Market Segmentation:

By Type:

·         Beer

·         Distilled Spirits

·         Wine

·         Others

By Alcoholic Content:

·         High

·         Medium

·         Low

By Flavour:

·         Unflavoured

·         Flavoured

By Packaging Type:

·         Glass Bottles

·         Tins

·         Plastic Bottles

·         Others

By Distribution Channel

·         Convenience Stores

·         Specialty Stores

·         On-Premises

·         Liquor Stores

·         Grocery Shops

·         Internet Retailing

·         Supermarkets

By Region:

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East and Africa

Alcoholic Beverages Market: Type Review:

Based on type, the global alcoholic beverages market is segmented into beer, distilled spirits, wine, and others. The distilled spirits segment held 33.3% market share in 2021 and is expected to continue to remain one of the topmost segments in the global alcoholic beverages market during the forecast period, after the beer segment. The burgeoning demand and consumption of premium/super-premium whiskey and the increasing shifting from beer to distilled spirits such as whiskey, vodka, rum, and others is the major factor driving the growth of this segment.

Alcoholic Beverages Market: Distribution Channel Review:

Based on distribution channel, the global alcoholic beverages market is classified into convenience stores, specialty stores, on-premises, liquor stores, grocery shops, internet retailing, and supermarkets., The specialty stores segment held the largest share of the market in 2021. The segment is estimated to maintain its position further in the market during the forecast period. However, the supermarket segment is expected to register the highest growth in the market during the forecast period of 2022-2030. Factors such as high visibility, attractive assortment, and easy availability of alcoholic beverages at low cost in supermarkets coupled with the growing number of supermarkets across the globe are predominantly attributed to the growth of the supermarkets segment.

Regional Outlook:

The alcoholic beverages research report offers detailed analysis and forecasts for five major regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

The Asia Pacific region dominated the global alcoholic beverages market in 2021, followed by North America and Europe. The region’s position in the market is expected to remain unchanged, while the regional market is predicted to witness robust expansion during the forecast period. The market in the region is mainly driven by factors such as the largest production base of alcoholic beverages coupled with the high demand and consumption of alcoholic beverages owing to the rising disposable income of people in the region, the growing lower-middle and upper-middle-income groups, the increasing western influence, and the increasing urbanization across major economies of the region. India and China are the leading contributors to the growth of the market in the region.

However, the European region is poised to emerge as the fastest-growing regional market for alcoholic beverages during the forecast period, followed by LAMEA. The growing alcohol drinking population and the increasing emergence of leading market players in the region are major factors attributable to the market's high growth in the European region.

The report also identifies the country market outlook for alcoholic beverages, covering country-wise market size, growth rate, market share, segmentation, leading players, current trends, and opportunities.

Key Companies in Alcoholic Beverages Market:

The research report offers a competitive analysis of prominent companies operating in the global alcoholic beverages market. Some of the leading players profiled in the market research report include:

·         Heineken Holding Nv. (Heineken N.V.)

·         Molson Coors Brewing Company

·         Pernod Ricard Sa

·         Anheuser-Busch Inbev

·         Bacardi Limited

·         Carlsberg Group

·         Constellation Brands, Inc

·         Diageo Plc

·         Suntory Holdings Ltd. (Beam Suntory Inc.)

·         United Spirits Limited

·         The Wine Group

·         Craft Brew Alliance Inc.

·         Boston Beer

·         Miller Coors

·         Other Players