The global alcoholic beverage market accounted for USD 1,474.2 Billion in 2018 and is estimated to reach USD 1,813.3 Billion in 2024, registering a compound annual growth rate (CAGR) of 3.5% between 2019 and 2024. Factors such as the rising young population across the globe, increasing disposable income and consumer demand for premium products are driving the growth of the global alcoholic beverages market.
Growth Drivers – Alcoholic Beverages Market
Rising Demand for Premium Alcoholic Beverages
Increasing demand for premium and super-premium alcoholic drinks is one of the major factors driving the growth of the global alcoholic beverage market. Furthermore, rising affluence of the middle-class population in developing nations is spearheading current and future growth prospects of the alcohol industry. This trend is likely to continue owing to rising urbanization. More and more people are migrating towards cities, where they are exposed to a wide variety of alcohols. In addition to this, the favorable demographics of young countries are increasing the number of potential customers. These factors are envisioned to bolster the growth of the alcoholic beverages market in the years ahead.
The global alcoholic beverage market is filled with a vast range of alcoholic products which is fulfilling the evolving needs of customers. Furthermore, innovation in cocktails and the launch of premium variants of various alcohols such as flavored alcohol is anticipated to foster the growth of the alcoholic beverages market during the forecast period. The rising willingness of consumers to pay for superior ingredients and low-calorie alcohol is also anticipated to supplement the growth of the alcoholic beverages market.
Barriers – Alcoholic Beverages Market
Stringent Government Rules & Regulations
Strict government rules and regulation in various countries is anticipated to hamper the growth of the global alcoholic beverages market. In various countries such as Afghanistan, Bangladesh, Brunei, India, Iran, Kuwait, Libya, Saudi Arabia, Sudan, UAE, Yemen, Pakistan among others, sales of alcohol are partially or fully banned. Also, in several national and states, the government is enforcing liquor control code through selective licensing and strict enforcement of law rules and regulations.
Get a brochure of this research study Click Here
The market is segmented by product type into malts, wine, distilled spirits, out of which, distilled spirits segment shared approximately 40.0% of the global alcoholic beverage market in 2018. It was followed by the malts segment in terms of market share in 2018. The distilled spirits segment is further segmented into vodka, rum, and others.
The report is also segmented by distribution channel segment, among which, on-premise segment grabbed major market share in 2018. The on-premise sector segment grabbed nearly 47.3% share in the form segment in 2018. Internet retailing has observed continuous growth in past years and is anticipated to grow at a significant CAGR during the forecast period. Furthermore, the number of supermarkets is increasing in almost every cities which are spearheading the growth of the sale of alcoholic beverages in supermarkets.
In terms of geography, the Alcoholic Beverage market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe accounted for the major share of the global Alcoholic Beverage market. Europe Alcoholic Beverage market was held at USD 486.2 Billion in 2018 and is anticipated to reach USD 612.9 Billion by the end of 2024. Europe's Alcoholic beverage market accounted for a market share of 33.0% in 2018 and further, is expected to stand at a market share of 33.8% by the end of 2024.
The report also covers detailed competitive analysis of major market players of global alcoholic beverages market, such as Anheuser-Busch InBev SA/NV, Bacardi Limited, Beam Suntory Inc., Constellation Brands Inc., Diageo Plc, Heineken Holding NV, Molson Coors Brewing Co., Pernod Ricard SA, United Spirits Ltd., Carlsberg Group and other key & niche players. The alcoholic beverages market is witnessing a wide range of industry activities such as product launch, acquisition, partnership, and expansion across the globe. For instance, in October 09, 2019, Pernod Ricard announced the acquisition of Castle Brands by a subsidiary of Pernod Ricard S.A., through a cash tender offer followed by a short-form merger. This acquisition has helped the company to expand its sales into the spirits market and strengthen its product portfolio.
By Product Type
- Distilled Spirits
- - - Whiskey
- - - Vodka
- - - Rum
- - - Others
By Distribution Channel
- Convenience Stores
- Liquor Stores
- Grocery Shops
- Internet Retailing
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (GCC, North Africa, South Africa and Rest of the Middle East & Africa)
The report profiles various major market players such as
• Anheuser-Busch InBev SA/NV
• Bacardi Limited
• Beam Suntory Inc.
• Constellation Brands Inc.
• Diageo Plc
• Heineken Holding NV
• Molson Coors Brewing Co.
• Pernod Ricard SA
• United Spirits Ltd.
• Carlsberg Group
• Other Major & Niche Players
Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by segment and by geography, SWOT Analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development and other market activities).
The study also provides a company’s positioning and market share in the alcoholic beverages market.
Timeline Considered for Analysis:
- 2018: Base Year
- 2018 to 2024: Forecast Period
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the global alcoholic beverages market by the following segments:
- Product Type
- Distribution Channel
Customization: We also offer customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Alcoholic Beverages Industry Report
• What is the overall market size in 2018? What will be the market growth during the forecast period i.e. 2019-2024?
• Which region would have a high demand for a product in the upcoming years?
• What are the factors driving the growth of the market?
• Which sub-market will make the most significant contribution to the market?
• What are the market opportunities for existing and entry-level players?
• What are the various long-term and short-term strategies adopted by the market players?
Get free sample pages of this report click here