NEW YORK, July 19, 2024 /PRNewswire/ -- The
global alcoholic drinks market size is estimated to grow
by USD 110.7 million from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of almost 6.56% during the forecast
period. Increase in popularity of craft segment is
driving market growth, with a trend towards increasing
consumption of alcoholic drinks. However, prominence of
counterfeit products poses a challenge. Key market players
include Aceo Ltd., Allied Blenders and Distillers Pvt. Ltd.,
Anheuser Busch InBev SA NV, Anora Group Plc, Bacardi Ltd., Bronco
Wine Co., Brown Forman Corp., Carlsberg Breweries AS, Concha y
Toro, Constellation Brands Inc., Diageo Plc, E. and J. Gallo
Winery, Heineken NV, Molson Coors Beverage Co., Pernod Ricard SA,
Suntory Holdings Ltd., The Boston Beer Co. Inc., The Edrington
Group Ltd., The Wine Group LLC, and Treasury Wine Estates Ltd..
![Technavio has announced its latest market research report titled Global alcoholic drinks market 2024-2028 Technavio has announced its latest market research report titled Global alcoholic drinks market 2024-2028](https://mma.prnewswire.com/media/2464508/Global_alcoholic_drinks_market.jpg)
Get a detailed analysis on regions, market
segments, customer landscape, and companies - Click for the
snapshot of this report
Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Distribution Channel
(Offline and Online), Type (Beer, Wine, Spirits, RTD pre-mixes, and
Cider), and Geography (APAC, Europe, North America, South America,
and Middle East and Africa)
|
Region
Covered
|
APAC, Europe, North
America, South America, and Middle East and Africa
|
Key companies
profiled
|
Aceo Ltd., Allied
Blenders and Distillers Pvt. Ltd., Anheuser Busch InBev SA NV,
Anora Group Plc, Bacardi Ltd., Bronco Wine Co., Brown Forman Corp.,
Carlsberg Breweries AS, Concha y Toro, Constellation Brands Inc.,
Diageo Plc, E. and J. Gallo Winery, Heineken NV, Molson Coors
Beverage Co., Pernod Ricard SA, Suntory Holdings Ltd., The Boston
Beer Co. Inc., The Edrington Group Ltd., The Wine Group LLC, and
Treasury Wine Estates Ltd.
|
Key Market Trends Fueling Growth
In developing economies like India, China,
Indonesia, and Singapore, the alcoholic drinks market is
experiencing significant growth. This expansion is driven by the
increasing demand for premium alcoholic beverages. Producers are
expanding their distribution channels, including online stores and
convenience stores, to meet this rising demand. New product
launches and technological advancements are further fueling
industry growth. Prominent players in the market are implementing
these strategies, which is anticipated to boost market growth
throughout the forecast period.
The alcoholic drinks market is currently experiencing
significant growth, particularly in the premium and super-premium
segments. Alcoholic beverages such as spirits, wines, and beers are
in high demand. Brands like Champagne, Scotch, and Tequila are
leading the trend. The market is also witnessing an increase in the
number of consumers in developing countries. The digital age has
brought about a shift in consumer behavior, with online sales and
social media marketing becoming essential. The market is also
witnessing a rise in the number of microbreweries and craft beer
brands. The health-conscious consumer trend is driving the demand
for low and no-alcoholic beverages. The market is expected to
continue growing, with innovations in flavors and packaging being
key drivers.
Discover 360° analysis of this market. For
complete information, schedule your consultation- Book
Here!
Market Challenges
- The alcoholic drinks industry faces a significant challenge
from the increasing market for counterfeit alcoholic beverages.
These products, made from unauthorized raw materials, pose health
risks to consumers and result in substantial revenue losses for
manufacturers worldwide. Counterfeit alcoholic beverages, also
known as unrecorded or non-commercial drinks, harm brand reputation
and sales. Vodka is a common target for counterfeiting. In
China, the illegal sale of
homemade rice wines is hindering the growth of the authentic wine
market, while old and used wine bottles are being bought for
fraudulent purposes. To mitigate the impact of counterfeit
alcoholic beverages on the market, it is crucial to take robust
measures against their production and distribution.
- The alcoholic drinks market faces several challenges in the
modern business environment. Premises, such as stores and bars,
require licenses to sell these products. Consumption of alcoholic
beverages, particularly spirits like whiskey and brandy, can lead
to health concerns. Premium brands and craft beers are popular, but
their production costs are high. On-premise businesses, like hotels
and restaurants, face competition from off-premise sales, such as
convenience stores and supermarkets. Alcoholic drinks also face
regulatory challenges, with stricter trade regulations and
increasing taxes. Additionally, consumer preferences are shifting
towards low and no-alcohol beverages. Brands must innovate to cater
to these changing trends while maintaining profitability.
For more insights on driver and
challenges - Download a Sample Report
Segment Overview
This alcoholic drinks market report extensively covers market
segmentation by
- Distribution Channel
- Type
- 2.1 Beer
- 2.2 Wine
- 2.3 Spirits
- 2.4 RTD pre-mixes
- 2.5 Cider
- Geography
- 3.1 APAC
- 3.2 Europe
- 3.3 North America
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Offline- The alcoholic drinks market
experiences consistent growth, driven by increasing consumer
preferences for premium and super-premium brands. Major players
focus on product innovation and expansion into emerging markets.
Market size is influenced by factors such as changing demographics,
consumer trends, and government regulations. Key segments include
beer, wine, and spirits. Companies invest in marketing strategies
to boost sales and maintain market share. Overall, the alcoholic
drinks industry remains a significant contributor to the global
economy.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
Learn and explore more about Technavio's in-depth research
reports
In the dynamic beverage industry, the global market for
Low-Alcohol Beverages is witnessing robust growth driven by
shifting consumer preferences towards healthier options. Meanwhile,
the Alcoholic Beverages Market continues to expand, propelled by
innovations in craft spirits and premium offerings. Concurrently,
the global Cordial Drink Market is seeing steady growth, fueled by
demand for diverse flavors and natural ingredients. These sectors
reflect evolving consumer tastes and strategic innovations by key
players to capture niche segments amidst competitive
landscapes.
Research Analysis
The alcoholic drinks market encompasses a wide range of
beverages, including wine, spirits, unflavored and flavored
varieties, premium offerings, and craft beers. These beverages are
available in various packaging options such as plastic bottles,
glass bottles, tins, and more. The market caters to diverse
consumer preferences and occasions, with convenience stores,
specialty stores, online retailers, hotels, and other
establishments like bars and lounges serving as key distribution
channels. Alcoholic beverages find extensive use in socializing,
urbanization, night parties, and various other settings. Product
varieties span from mild-lager beers to microbreweries, brewpubs,
restaurants, and wineries. Premium alcoholic beverages and
super-premium offerings continue to gain popularity, with whiskey,
gin, vodka, flavored wine, and cocktails being popular choices.
Brewers and wineries play a crucial role in the production and
innovation of these beverages.
Market Research Overview
The alcoholic drinks market encompasses a wide range of beverage
categories, including spirits, wines, unflavored beers, flavored
beers, and non-alcoholic beverages. These beverages are produced
through various processes such as fermentation and distillation.
The market is driven by factors such as changing consumer
preferences, increasing disposable income, and the growing
popularity of premium and super-premium brands. Consumers are
increasingly seeking out new and innovative flavors, as well as
sustainable and organic options. The market is also influenced by
regulatory trends, such as stricter alcohol content regulations and
increasing taxes on alcoholic beverages. Overall, the alcoholic
drinks market is a dynamic and evolving industry that continues to
adapt to changing consumer demands and regulatory environments.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Distribution Channel
-
- Type
-
- Beer
- Wine
- Spirits
- RTD Pre-mixes
- Cider
- Geography
-
- APAC
- Europe
- North America
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
View original content to download
multimedia:https://www.prnewswire.com/news-releases/alcoholic-drinks-market-size-is-set-to-grow-by-usd-110-7-million-from-2024-2028--increase-in-popularity-of-craft-segment-to-boost-the-market-growth-technavio-302201299.html
SOURCE Technavio