Alcoholic Beverages Market (Covid-19 Updated) 2021 Set to See Growth in Revenue in Future

The Global Alcoholic Beverages Market size is estimated to be USD 1.50 trillion in 2019 and is predicted to reach USD 1.91 trillion by 2030 with a CAGR of 2.2% from 2020-2030.

Alcoholic Beverages are fermented beverages with the properties of ethanol; it is flammable in nature which is manufactured by fermenting the fruit juice, wheat, barley. There are different types of alcoholic beverages available in the market. All have different manufacturing process and ingredients and difference in alcohol content. Beer have alcohol content of 8-10%, distilled spirits have alcohol content of 35-40%, wine have alcohol content of 10-15%. The prices of alcohol beverages depends on the manufacturing cost involved in the entire process.

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Top Companies: Bacardi Limited, Anheuser-Busch InBev SA/NV, Constellation Brands Inc., Beam Suntory Inc., Heineken Holding NV, Diageo Plc, Pernod Ricard SA, Molson Coors Brewing Co., United Spirits Ltd. and SABMiller Ltd and others.

Market Dynamics and Trends

There have been various developments taken in the market especially in terms of technological advancements coupled with increase in disposable income and increased demand of premium alcohol brands. Moreover, increase in infrastructure development for the production of alcoholic beverages are also expected to fuel the market growth,

The other factors include increasing demand of alcoholic beverages in young population coupled with prioritizing the quality over price has also increased the demand of premium brands over the forecast period. However, the high cost of alcoholic beverages and harmful effects of alcohol on health are expected to adversely affect the growth of alcoholic beverages market. On the other hand, innovation and increasing in research and development is expected to create lucrative opportunities in the alcoholic beverages market.

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Market Segmentations and Scope of the Study:

The global alcoholic beverages market share is analyzed on the basis of type, distribution channel, packing, and geography. On the basis of type, the market is segmented into beer, distilled spirits, wine, and others. The beers are sub segmented into Ale, Lager, and Hybrid. The distilled spirits segment is further divided into Rum, Whiskey, Vodka, and Others. The wine segment is further sub segmented into Sparkling, Fortified, and Others. On the basis of distribution channel, the market is divided into On-Premises, Liquor Stores, Grocery Shops, Internet Retailing, Supermarkets, and Convenience Stores. Based on packing, the market is fragmented into tin, glass bottles, and plastic bottles. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America is expected to hold the major market share over the forecast period owing to the technological advancement coupled with increase in innovation and manufacturing process coupled with research and development activities. Moreover, difference in lifestyle and climatic conditions are also expected to further promote the growth of alcoholic beverages market.

Asia Pacific is expected to show significant growth with constant increase in the market share over the forecast period. Furthermore, increase in disposable income and increasing demand of premium alcoholic beverages by young population are also expected to augment the growth of alcoholic beverages market in the near future.

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