NEW
YORK, June 21, 2024 /PRNewswire/ -- The
global alcoholic beverages market size is estimated to grow by
USD 261.6 billion from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of 2.09% during the forecast period. Increase in popularity of
craft segment is driving market growth, with a trend
towards increasing consumption of alcoholic beverages.
However, prominence of counterfeit products poses a challenge.
Key market players include Anheuser Busch InBev SA NV, Asahi Group
Holdings Ltd., Bells Brewery Inc., Campari Group, Carlsberg
Breweries AS, Constellation Brands Inc., Deschutes Brewery, D.G.
Yuengling and Son Inc., Diageo Plc, FIFCO USA, Heineken NV, Kirin Holdings Co. Ltd.,
Molson Coors Beverage Co., New Belgium Brewing Co. Inc., Pernod
Ricard SA, Stone Brewing Co. LLC, Suntory Holdings Ltd., Treasury
Wine Estates Ltd., Victory Brewing Co., and Yanghe Distillery Co.
Ltd..
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Product (Beer, Spirits,
and Wine), Distribution Channel (Off-trade and On-trade), and
Geography (Europe, APAC, North America, South America, and Middle
East and Africa)
|
Region
Covered
|
Europe, APAC, North
America, South America, and Middle East and Africa
|
Key companies
profiled
|
Anheuser Busch InBev SA
NV, Asahi Group Holdings Ltd., Bells Brewery Inc., Campari Group,
Carlsberg Breweries AS, Constellation Brands Inc., Deschutes
Brewery, D.G. Yuengling and Son Inc., Diageo Plc, FIFCO USA,
Heineken NV, Kirin Holdings Co. Ltd., Molson Coors Beverage Co.,
New Belgium Brewing Co. Inc., Pernod Ricard SA, Stone Brewing Co.
LLC, Suntory Holdings Ltd., Treasury Wine Estates Ltd., Victory
Brewing Co., and Yanghe Distillery Co. Ltd.
|
Key Market Trends Fueling Growth
In developing economies like India, China,
Indonesia, and Singapore, the alcoholic beverages market is
experiencing significant growth. The increasing demand for premium
alcoholic beverages is a major factor driving this industry.
Producers are expanding their sales channels, including online
stores and convenience stores, to reach more consumers. New product
launches, such as Constellation Brands' Shyft, a new
flavor-changing flavored malt beverage, are also contributing to
market growth. These factors will continue to boost the alcoholic
beverages industry during the forecast period.
The alcoholic beverages market is experiencing significant
trends with various types gaining popularity. Carbonated alcoholic
beverages, such as beer and carbonated drinks, continue to be in
demand. Alcoholic liquors, including whiskey and spirits, are also
seeing growth. Hearts and distilleries produce a range of alcoholic
beverages, including cardiovasculature drinks and distilled
spirits. Factories manufacture alcoholic beverages using modern
technology. Consumers prefer premium and super-premium brands,
driving up market value. The market is competitive with brands
competing on taste, price, and marketing strategies. The industry
is subject to regulations regarding alcohol content and marketing.
Sustainability is a trending concern, with some companies focusing
on eco-friendly production methods. Overall, the alcoholic
beverages market is dynamic and evolving, with various trends
shaping its growth.
Research report provides comprehensive data on
impact of trend. For more details- Download a Sample
Report
Market Challenges
- The alcoholic beverages market faces a significant challenge
from the proliferation of counterfeit alcoholic beverages. These
fake products, made from substandard raw materials, pose health
risks to consumers and result in substantial revenue losses for
manufacturers worldwide. Counterfeit alcohol, also known as
unrecorded or non-commercial alcohol, harms brand reputation and
sales. Vodka is a common target for counterfeiters. Combating the
expansion of counterfeit alcoholic beverages is crucial to
safeguard consumer health and ensure the growth of the alcoholic
beverages industry.
- The Alcoholic Beverages market faces several challenges in the
modern business landscape. Key areas of concern include regulation
and compliance, such as the implementation of stricter drinking age
laws and limits on alcohol content. Competition is fierce, with
numerous brands and types vying for consumer attention.
Urbanization and population growth in some regions create new
opportunities, while in others, declining consumption trends pose
challenges. Factors like consumer preferences, cultural norms, and
economic conditions also impact the market significantly.
Additionally, the rise of e-commerce and digital marketing
necessitates a strong online presence for brands to succeed.
Overall, the Alcoholic Beverages industry must adapt to these
challenges to remain competitive and thrive in the dynamic business
environment.
For more insights on driver and
challenges - Download a Sample Report
Segment Overview
This alcoholic beverages market report extensively covers market
segmentation by
- Product
- 1.1 Beer
- 1.2 Spirits
- 1.3 Wine
- Distribution Channel
- 2.1 Off-trade
- 2.2 On-trade
- Geography
- 3.1 Europe
- 3.2 APAC
- 3.3 North America
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Beer- The alcoholic beverages market experiences
consistent growth, driven by increasing consumer preferences for
premium and super-premium brands. Beer, wine, and spirits are the
major segments, with spirits showing the fastest expansion. Factors
fueling this growth include changing demographics, rising
disposable income, and expanding distribution channels.
Globalization and cultural shifts also contribute to the market's
expansion. Overall, the alcoholic beverages industry remains a
significant player in the global consumer goods sector.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
Research Analysis
The alcoholic beverages market encompasses a wide range of
products, including those made from fermented grains, fruits,
sugars, tubers, plant saps, honey, milk, and various types of wines
and beers. Ethanol is the common denominator in these beverages,
with alcohol content percentages varying greatly. Regulations
governing alcoholic consumption are stringent, requiring warning
labels and adherence to local special circumstances. Environmental
responsibility is a growing concern in the industry, with organic
and biodynamic wines, eco-friendly packaging solutions, and
sustainable farming practices becoming increasingly popular.
Cultural factors and religious beliefs also play a significant role
in the wine culture and beer market, with traditional beers holding
deep cultural significance in various regions.
Market Research Overview
The Alcoholic Beverages Market encompasses a wide range of
consumer products, including beers, wines, spirits, and
non-alcoholic beverages. These beverages are produced using various
ingredients such as grains, fruits, and hops. The fermentation
process is crucial in the production of alcoholic beverages,
converting sugars into alcohol and carbon dioxide. The global
alcoholic beverages market is driven by factors such as increasing
consumer preferences for premium and super-premium brands, growing
urbanization, and changing demographic trends. The market is
segmented based on product type, distribution channel, and region.
The alcoholic beverages industry is subject to various regulations
and standards to ensure product safety and quality. Sustainability
and innovation are key trends shaping the future of the market. The
market is expected to grow at a steady pace in the coming years,
driven by these factors and others.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Product
-
- Distribution Channel
-
- Geography
-
- Europe
- APAC
- 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/
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SOURCE Technavio