Alcoholic Drinks Industry Overview
The global alcoholic drinks market size was valued at USD 1,448.2 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 10.3% from 2022 to 2028.
This can be credited to the growing consumption of premium beer from developed economies such as the U.S. and the U.K. The growing demand for beer, wine, and dark spirits is enhancing the sales of alcoholic beverages. Moreover, the rising popularity of pubs, bars, and restaurants is further anticipated to boost market growth during the forecast period. The growing acceptance of the striking flavors of beers to aid the digestive system is the major factor driving the industry.
Gather more insights about the market drivers, restrains and growth of the Global Alcoholic Drinks Market
Moreover, the rising demand for artisanal spirits in developing economies such as China and India is anticipated to boost the growth of the market for alcoholic drinks. Rising demand to procure value-added hard seltzer products at an affordable cost is the upcoming opportunity for the market. However, the rising inclination to consume non-alcoholic beverages is hindering the market growth. At present, key players are focusing to launch cordials and liquors with lower alcoholic content to maintain human health.
During the financial year 2020 – 2021, the coronavirus disease had affected the globe to a larger extent. The supply chain of the market had slightly hindered during the COVID-19 era. The distribution channels such as liquor stores, grocery shops, and supermarkets were hampered due to the lockdown imposed by several governments across the globe. During the COVID-19 pandemic, the demand for beer and dark spirits increased. The key players in the market for alcoholic drinks are evaluating internet retailing from the e-commerce platform to improve the sales statistics of the market. This kind of process was expanding the commercial opportunity of the alcoholic beverages product, which, in turn, can propel market growth.
Growing investment from the U.K.-based prime players to procure high-quality Scotch whisky products is refueling market growth. The major key players are procuring superior quality cider, perry, and rice wine. The rapidly growing demand for lower calorie-based beer supplements from U.S. consumers is further driving industry growth. Moreover, the rising demand to procure value-added hard seltzer products at an affordable cost is an upcoming opportunity for the market. Hence, the market for alcoholic drinks is expected to perform well during the forecast period.
The rising inclination to consume non-alcoholic beverages is hindering market growth. Moreover, to start any new business in the alcoholic drinks industry vendors need to invest a huge amount of capital and resources, and take legal certifications from the government. Therefore, all the above factors may take a huge amount of processing time which is further limiting the growth of the market for alcoholic drinks. In addition, increasing health-conscious consumers are going to restrict the overall market growth during the forecast period. At present, key players are focusing to launch cordials and liquors with lower alcoholic content to maintain human health; this is an ongoing trend to increase the consumer base in the market. Moreover, key players such as the Asahi brand use the strategy of giving beer for every twenty-bottle order by asking liquor stores, known as the "Quarter Strategy", to spread their market share as much as possible.
Browse through Grand View Research's Alcohol & Tobacco Industry Research Reports.
- Beer Market – The global beer market size was valued at USD 680.9 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.0% from 2022 to 2030. Beer consumption patterns have shifted dramatically, with declining consumption in traditional drinking countries and high gains in emerging markets and places where wine and spirits were traditionally consumed.
- Wine Market – The global wine market size was valued at USD 417.85 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.4% from 2021 to 2028. The rising adoption of wine among all age groups from the young generation to the old age population across the globe is the key factor for market growth.
Alcoholic Drinks Market Segmentation
Grand View Research has segmented the global alcoholic drinks market on the basis of type, distribution channel, and region:
Alcoholic Drinks Type Outlook (Revenue, USD Million, 2017 – 2028)
- Cider, Perry & Rice Wine
- Hard Seltzer
Alcoholic Drinks Distribution Channel Outlook (Revenue, USD Million, 2017 – 2028)
- Pub, Bars & Restaurants
- Internet Retailing
- Liquor Stores
- Grocery Shops
Alcoholic Drinks Regional Outlook (Revenue, USD Million, 2017 – 2028)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
Market Share Insights
- June 2020: Asahi officially occupied the Carlton and United Breweries, Australia’s biggest brewer. The acquisition of Asahi and Carlton and United Breweries will now offer Asahi Beverages’ customers a range of wonderful tasting beverages with the addition of Australia’s most popular and highly enjoyed beer brands.
- May 2020: Pernod Ricard announced a partnership with the United Nations’ EducateAll platform, to provide free sustainable and affordable bartending training through online platforms.
Key Companies profiled:
Some prominent players in the global alcoholic drinks market include
- Anheuser-Busch InBev SA/NV
- Bacardi Limited
- Beam Suntory Inc.
- Constellation Brands Inc.
- Diageo Plc
- Molson Coors Brewing Co.
- Pernod Ricard SA
- United Spirits Ltd.
- Asahi Breweries Ltd.
- Carlsberg A/S
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