PUBLISHER: The Business Research Company | PRODUCT CODE: 1435263
PUBLISHER: The Business Research Company | PRODUCT CODE: 1435263
An alcoholic beverage is a drinkable liquid containing ethanol, prepared through the fermentation of fruits, grains, or other sources.
The primary types of alcoholic beverages include beer, wine, brandy, and spirits. Beer is produced by extracting raw materials, boiling (often with hops), and fermenting the mixture. These products are distributed through both off-trade channels (such as retail stores) and on-trade channels (such as bars and restaurants). Beer is further categorized into mass-produced and premium varieties.
The alcoholic beverages research report is one of a series of new reports from The Business Research Company that provides alcoholic beverages statistics, including alcoholic beverages industry global market size, regional shares, competitors with alcoholic beverages share, detailed alcoholic beverages segments, market trends and opportunities, and any further data you may need to thrive in the alcoholic beverages industry. This alcoholic beverage research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The alcoholic - beverages market size has grown strongly in recent years. It will grow from $516.72 billion in 2023 to $545.8 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth observed during the historical period can be attributed to factors such as the globalization of beverage brands, effective marketing and branding strategies, the influence of the craft and artisanal movement, legal and regulatory changes, and innovation in flavors and ingredients within the alcoholic beverage industry.
The alcoholic - beverages market size is expected to see strong growth in the next few years. It will grow to $668.7 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The anticipated growth in the forecast period can be attributed to factors such as the adoption of sustainable and eco-friendly practices, a growing preference for health-conscious consumer choices, the emergence of cannabis-infused beverages, the rise of regional and craft distilleries, and an increased interest in non-traditional ingredients within the alcoholic beverage industry. Major trends expected in the forecast period encompass the popularity of ready-to-drink (RTD) beverages, the utilization of digital platforms for alcohol delivery, the influence of digital marketing and social media, and the flourishing cocktail culture and mixology.
The global population is on the rise and is projected to reach 10 billion by 2050. This growth in population is expected to drive an increased demand for alcoholic beverages. To meet the needs of the expanding population, there will be a necessity for heightened crop production, farming activities, and trade volumes. Consequently, companies operating in the alcoholic beverages market are poised to benefit from this heightened demand during the forecast period.
The surge in the number of wineries and breweries is anticipated to propel the growth of the alcoholic beverages market. Wineries, where wine is produced, and breweries, where beer is brewed, contribute to a diverse array of alcoholic products. This expansion supports the local and artisanal appeal, stimulates tourism and innovation, fosters healthy competition, enables brand differentiation, and encourages consumer education. As an illustration, data from Wine Business Analytics reveals that in 2023, the United States boasts 11,691 wineries, indicating an increase of nearly 400 from the previous year and a growth of 1,215 compared to 2020. Hence, the proliferation of wineries and breweries is a key driver for the alcoholic beverages market.
The outbreak of COVID-19 in 2020 acted as a substantial restraint on the alcoholic beverages market. The pandemic disrupted supply chains due to trade restrictions, and consumption plummeted following global lockdowns. The impact was felt across continents, affecting manufacturers who depend on the supply of raw materials from both domestic and international sources. With governments imposing restrictions on the movement of goods, production faced halts due to raw material shortages. Despite these setbacks, it is anticipated that the alcoholic beverages market will recover from the pandemic shock over the forecast period, considering it is deemed a "black swan" event unrelated to intrinsic weaknesses in the market or the global economy.
Alcoholic beverage manufacturers are adapting to changing consumer preferences by introducing ready-to-mix hybrid beverages. These hybrid beverages blend alcoholic drinks from multiple categories, employing unique flavor combinations, ingredients, and production methods. Examples include spirits or beers produced in wine barrels for distinctive tastes. The spirit category notably features hybrid beverages such as beer mixed with rum or tea combined with vodka. Popular examples include Malibu Red (rum and tequila), Kahlua Midnight (rum and Kahlua), and Absolut Tune (vodka and sparkling wine).
Leading companies in the market are strategically embracing Ready-to-Drink (RTD) offerings to maintain a competitive edge. RTD alcoholic beverages, requiring no additional preparation, offer consumers instant enjoyment. For instance, in March 2023, Jack Daniel's Distillery introduced the Jack Daniel's & Coca-Cola cocktail as an RTD option. Inspired by a popular "bar call," this ready-to-drink cocktail ensures a consistent, convenient, and portable way for consumers to savor the classic Jack & Coke blend. The product is available in 12-oz. cans with an alcohol by volume (ABV) of 7%, including a Coca-Cola Zero-Sugar variant.
Major companies operating in the alcoholic - beverages market report are Pernod Ricard SA, Anheuser-Busch InBev NV/SA, Mark Anthony Group of Companies, Heineken N.V., Asahi Group Holdings Ltd., Diageo PLC, Suntory Holdings Limited, kirin holdings co. ltd., The Molson Coors Brewing Company, Constellation Brands Inc., E. & J. Gallo Winery, Brown-Forman Corporation, Davide Campari-Milano N.V., Jose Cuervo, Thai Beverage Public Company Limited, William Grant & Sons Ltd., Distell Group Limited, Treasury Wine Estates Limited, Remy Cointreau SA, United Spirits Ltd., The Edrington Group Limited, Accolade Wines Holdings Australia Pty. Ltd., The Wine Group Inc., Beam Suntory Inc., Bacardi Limited, Halewood Wines & Spirits, Mast-Jagermeister SE, China Resources Snow Breweries Ltd., Tequila Patron, Carlsberg Breweries Group, Coca-Cola Amatil Limited, Stock Spirits Group PLC, Roust Corporation, Lucas Bols N.V., Central European Distribution Corporation
The Asia-Pacific was the largest region in the alcoholic - beverages market in 2023. Western Europe was the second-largest region in the alcoholic - beverages market. The regions covered in the alcoholic - beverages market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the alcoholic - beverages market report are Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa.
The alcoholic beverages market consists of sales of ales, lagers, stouts and porters, malts, still wine, sparkling wine, cognac, armagnac, whiskey, vodka, rum, tequila, gin, and other alcoholic beverages. The companies in the alcoholic beverages industry process raw materials into alcoholic beverages, package and distribute them through various distribution channels to both on-trade and off-trade establishments. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The alcoholic beverages market is segmented into beer, wine and brandy, and spirits.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Alcoholic - Beverages Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on alcoholic - beverages market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for alcoholic - beverages ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The alcoholic - beverages market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.