New York – United States
An all-inclusive Alcoholic Beverages Market report is the best source that gives CAGR values with variations during the forecast period of 2023-2030 for the market. With the comprehensive analysis of the market, it puts forth overview of the market regarding type and applications, featuring the key business resources and key players. The statistical and numerical data are represented in graphical format for a neat understanding of facts and figures. This market research report is an analytical consideration of the prime challenges that may arrive in the market in terms of sales, export, import, or revenue. Alcoholic Beverages Market document also provides the list of leading competitors along with the strategic insights and analysis of the key factors influencing the Food & Beverage industry.
Data Bridge Market Research analyses that the alcoholic beverages market is expected to reach USD 1,978.69 billion by 2030, which was USD 1,561.99 billion in 2022, registering a CAGR of 3.00% during the forecast period of 2023 to 2030.
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Market Definition
An alcoholic beverage is a drink that is prepared by mixing ethanol with grains, fermented fruits, and sugar. Ciders and wines are made using a fermented fruit base, while spirits and beers are prepared by fermenting rye and barley. The alcoholic content of the beverage is affected by how long it is stored and on the container in which it is fermented. Alcoholic beverages are extensively consumed as recreational and rejuvenating drinks.
Some of the major players operating in the alcoholic beverages market are:
- Halewood International Limited (U.K.)
- Davide Campari-Milano N.V. (Netherlands)
- Diageo (U.K.)
- ASAHI GROUP HOLDINGS, LTD. (Japan)
- Accolade Wines (Australia)
- Bacardi (Bermuda)
- Mike’s Hard Lemonade Co. (U.S.)
- CASTEL FRÈRES. (France)
- SUNTORY HOLDINGS LIMITED (Japan)
- Anheuser-Busch Companies LLC (U.S.)
- Brown Forman (U.S.)
- Pernod Ricard (France)
- Miller Brewing Co. (U.S.)
Global Alcoholic Beverages Market Dynamics
Drivers
- Increasing online platforms for buying alcoholic beverages
The growing online platform for purchasing alcoholic beverages is expected to drive the market’s growth during the forecast period. There are numerous online websites to offer alcoholic beverages distribution facilities and corporate parties for beer and wine service. There is also a substantial distribution services facility from numerous manufacturers to various countries and local breweries and liquor stores.
- Growing preference among consumers for hybrid beverages
Manufacturers of alcoholic beverages are now offering ready-to-mix hybrid beverages to fulfill the changing consumer preferences and tastes. Hybrid beverages are formed by using unique flavor combinations and production methods from several drinks. Some of the popular beverages include Malibu red (rum and tequila), absolute tune (vodka and sparkling wine), and Kahlua midnight (rum and Kahlua).
Opportunities
- The increasing population widens the market scope
The global population is growing swiftly and is likely to reach about 10 billion by 2050. An increasing population generates large demand for alcoholic beverages, which is expected to create ample opportunities for market growth. Crop production, trade volumes, and farming activities will have to increase to fulfill the increased population demand.
- Growing demand for premium products
Increasing demand for premium products will create ample opportunities for the alcoholic beverages market growth. In the alcohol industry in the U.S., the fastest-growing section is the ready-to-drink cocktail business, which has enough potential to develop into new markets and also deliver access to premium cocktails of bar quality.
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The alcoholic beverages market is segmented on the basis of product type, alcoholic content, flavor, category, packaging, and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Beer
- Ale
- Lager
- Hybrid
- Wine
- Sparkling Wine
- Fortified Wine
- Others
- Spirits
- Rum
- Vodka
- Whiskey
- Other Spirits
- Others
Alcoholic Content
- High
- Medium
- Low
Flavor
- Unflavored
- Flavored
Category
- Mass
- Premium
Packaging
- Plastic Bottles
- Glass Bottles
- Tins
Distribution Channel
- Modern Trade
- Convenience Stores
- Specialty Stores
- Online Retailers
- Hotels/Restaurants/Bars
- Commercial Stores
- On-Premises
- Liquor Stores
- Grocery Shops
- Internet Retailing
- Supermarkets
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