Europe alcoholic beverages market is expected to reach a CAGR of 7.8% in the forecast period of 2019 to 2026. The new market report contains data for historic year 2017, the base year of calculation is 2018 and the forecast period is 2019 to 2026.
By Type (Beer, Distilled Spirits, Wine, Champagne, Brandy, Ciders, Others), Packaging (Bottles, Cans, Tetra Packs), Product Type (Flavoured, Unflavoured), Distribution Channel (Convenience Stores, Specialty Stores, Online Retailers, Hotels/Restaurants/Bars, Others), Country (Germany, Poland, Spain, U.K., France, Czech Republic, Turkey, Italy, Denmark, Switzerland, Russia, Belgium, Rest of Europe).
Major growing sectors under the market segmentation are as follows:
- In type, beer segment is growing at the highest CAGR as the Breweries are not only battling volume issues. Competitive pressure has intensified dramatically in the premium and super premium segments, which have experienced strong growth and retained attractive profit margins. The fact that economies of scale are less important in these profitable sectors makes it easier for niche providers to compete successfully. It shows that people are drinking less, but looking for better quality this reflects the strength and innovation of pub, bar and restaurant operators around the country and the continuing move towards more premium products.
- In distribution channel, online retailers segment is growing at the highest CAGR due to various advantages such as it saves time, easy for consumers who cannot afford going out due to heavy work pressure, less trips to the liquor store, comfortability with smartphones, allows consumer to read the product details, understand the product review, check the new product launches, prices and others. The number of online retailers providing alcoholic beverages has increased in last couple of years.
- In product type, flavoured segment is growing at the highest CAGR because it is mostly preferred by today's younger youth as it has low alcoholic content and is basically manufactured for first time drinker or consumer who prefers light drinks. All these factors contribute to the growth of this market. Whereas, preference for flavored liquor decrease with age, less alcoholic content, limited penetration, mostly rely on younger generation, and generally limited to countries having high dependency on tourism are some of the factors which may hamper the growth of this market.
- In packaging, tetra packs segment is growing at the highest CAGR because tetrapacks are easy to carry and are unbreakable due to which it market can grow in future though the market is still very less and has slow growth in the market. As compared to tetrapacks, pouches are considered more for the packaging of the liquor. Pouches are expected to grow in future as they are light in weight, convenient to use, resealable, cheap, easy to transport, large quantity can be transported, and minimize manufacturing cost
Key Market Players
The key market players for Europe alcoholic beverages market are listed below:
- SUNTORY HOLDINGS LIMITED.
- Anheuser-Busch InBev
- UNITED BREWERIES LTD.
- Molson Coors Brewing Company
- Accolade Group LLC
- Heineken Holding N.V.
- Asahi Group Holdings, Ltd.
- Pernod Ricard
- Carlsberg Breweries A/S
- Kirin Holdings Company Limited
- Bronco Wine Company
- Bundaberg Brewed Drinks
- Constellation Brands, Inc.