Global Alcoholic Beverages Market Size To Worth USD 2249.3 Billion By 2033 | CAGR of 3.21%
Category: Food & BeveragesGlobal Alcoholic Beverages Market Size To Worth USD 2249.3 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Alcoholic Beverages Market Size is to Grow from USD 1639.9 Billion in 2023 to USD 2249.3 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 3.21% during the projected period.
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Browse key industry insights spread across 200 pages with 120 Market data tables and figures & & charts from the report on the "Global Alcoholic Beverages Market Size, Share, and COVID-19 Impact Analysis, By Type (Distilled spirits, Beer, Champagne, Wine, Other), By Alcohol Content (High, Medium, Low), By Distribution Channel (Liquor Stores, Supermarkets/Hypermarkets, Bars/ Clubs, Restaurants, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/alcoholic-beverages-market
Liquids having an alcohol content are known as alcoholic beverages, and they are usually fermented. In their manufacturing process, yeast is employed to transform sugars from a range of sources, including grains, fruits, and sugarcane, into carbon dioxide and alcohol. Most people drink alcohol to unwind on their own or to enjoy with others in social situations. Additionally, market trends are being driven by the growing use of alcoholic beverages, particularly in developing nations like China, India, Indonesia, and Singapore. The market's expansion can be ascribed to the rising demand for premium alcoholic drinks. As a result, producers have focused on offering a wide range of ready-to-mix hybrid drinks in an attempt to meet the constantly shifting tastes and preferences of consumers. Increased demand for alcoholic beverages due to population growth could provide ample opportunity for industry expansion. Raising crop yields, trade volumes, and farming operations will be necessary to meet the population's growing demand. Companies in the alcoholic beverage industry are expected to benefit from the rising demand for alcoholic beverage products due to the forecast period of population growth. However, non-alcoholic and energy drinks are posing a threat to the alcohol business as they steadily replace various alcoholic beverages, as consumers' perceptions of their health and well-being influence their purchasing decisions.
The beer segment is anticipated to hold the greatest share of the global alcoholic beverages market during the projected timeframe.
Based on the type, the global alcoholic beverages market is divided into distilled spirits, beer, champagne, wine, and others. Among these, the beer segment is anticipated to hold the greatest share of the global alcoholic beverages market during the projected timeframe. This is because businesses have been able to build enduring relationships with their customers by learning about their preferences for different beer flavors and occasions.
The high segment is anticipated to grow at the fastest pace in the global alcoholic beverages market during the projected timeframe.
Based on the alcohol content, the global alcoholic beverages market is divided into high, medium, and low. Among these, the high segment is anticipated to grow at the fastest pace in the global alcoholic beverages market during the projected timeframe. This is because consumer tastes for strong spirits and liquors which are often associated with upscale, sophisticated drinking occasions fuel the demand for high alcohol content.
The liquor stores segment is predicted to grow at the highest pace in the global alcoholic beverages market during the estimated period.
Based on the distribution channel, the global alcoholic beverages market is divided into liquor stores, supermarkets/hypermarkets, bars/ clubs, restaurants, and others. Among these, the liquor stores segment is predicted to grow at the highest pace in the global alcoholic beverages market during the estimated period. This is because liquor stores, especially in metropolitan areas, provide a convenient and fast way to purchase alcoholic beverages without having to go far or wait in long queues. They are handy and easily available.
Europe is expected to hold the largest share of the global alcoholic beverages market over the forecast period.
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Europe is expected to hold the largest share of the global alcoholic beverages market over the forecast period. The market's rise is being propelled by the growing trend of European consumers selecting premium and craft alcoholic beverages. European consumers' increasing need for unique and high-quality beverages is leading to the proliferation of regional breweries, distilleries, and wineries that cater to their interests. Furthermore, the region's stable economy and rising disposable income have led to a rise in the consumption of alcoholic beverages, particularly premium and international brands. Furthermore, stringent but unambiguous government regulations governing the manufacture, sale, and labeling of alcohol have improved customer confidence and product quality.
North America is predicted to grow at the fastest pace in the global alcoholic beverages market during the projected timeframe. This could be connected to the rising demand in the US and Canada for polished malt scotch whisky. The market will grow thanks to the increasing appeal of classic American alcoholic beverage brands including Arnold Palmer Spiked Half & Half, Burgasko, and Bergenbier. Furthermore, it is expected that the capital supplied by private companies in Canada for the acquisition of premium alcoholic drinks will expedite market expansion.
Major vendors in the global alcoholic beverages market include Tsingtao Brewery Company Limited, Kirin Holdings Company, Limited, MillerCoors (Molson Coors Brewing Company), Heineken Holdings N.V., Beijing Yanjing Brewery Co. Ltd., Carlsberg Breweries A/S, Diageo plc, Bacardi & Company Limited, Anheuser-Busch InBev SA/NV, Olvi Oyj, and Others.
Recent Developments
- In September 2023, following the transaction's conclusion, Bacardi Limited acquired exclusive ownership of ILEGAL Mezcal, a premium artisanal mezcal.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global alcoholic beverages market based on the below-mentioned segments:
Global Alcoholic Beverages Market, By Type
- Distilled spirits
- Beer
- Champagne, Wine
- Other
Global Alcoholic Beverages Market, By Alcohol Content
- High
- Medium
- Low
Global Alcoholic Beverages Market, By Distribution Channel
- Liquor Stores
- Supermarkets/Hypermarkets
- Bars/ Clubs
- Restaurants
- Others
Global Alcoholic Beverages Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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