Global Alcoholic Beverages Market - 2023-2030

Global Alcoholic Beverages Market - 2023-2030

The Global Alcoholic Beverages Market reached US$ 2,125.2 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 4,297.1 billion by 2030. The market is growing at a CAGR of 9.2% during the forecast period 2023-2030.

Alcoholic beverages are drinks that contain ethanol, a type of alcohol produced through the fermentation of sugars by yeast. These beverages have been consumed by various cultures throughout history for social, cultural, and recreational purposes. There is a growing demand for premium and craft alcoholic beverages. Consumers are increasingly willing to pay more for higher-quality products with unique flavors, craftsmanship, and provenance. This trend is driving the market growth of alcoholic beverages. Craft beer, artisanal spirits, small-batch wines, and premium liquors are experiencing significant growth as consumers seek out distinctive and exclusive offerings.

Market Dynamics

Increasing Disposable Income is Driving the Alcoholic Beverages Market Growth

As disposable income increases, consumers have more money available to spend on discretionary items, including alcoholic beverages. For instance, in 2021, 1.1 billion wine gallons are consumed in the US. The higher purchasing power allows consumers to afford the premium or higher-priced alcoholic products that may have been out of reach previously. Increasing disposable income often leads to a desire for enhanced lifestyle experiences. Alcohol is often associated with socializing, celebrations, and indulgence. Hence, increasing disposable income is driving the alcoholic beverages market growth.

Rising Competition From Non-Alcoholic Beverages is Restraining the Market Growth of Alcoholic Beverages Market

According to Drug Abuse, nearly 100,000 annual deaths are attributable to Alcohol consumption. Alcoholic liver disease is the leading killer, causing 19.1% of all alcohol-related deaths. 53.7% of alcohol-related deaths are due to chronic misuse. Increasing consumer awareness and concern about these side effects have led to a shift in preferences toward healthier beverage options. Non-alcoholic beverages, such as flavored water, functional drinks, juices, and health-oriented beverages, are gaining popularity due to their perceived health benefits. Health-conscious consumers may choose to reduce or eliminate their alcohol consumption, leading to restraining alcoholic beverages market growth.

COVID-19 Impact Analysis

The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario, and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it to pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

Segment Analysis

The global alcoholic beverages market is segmented based on product type, alcoholic content, distribution channel, and region.

Availability and Affordability of Beer

In 2022, based on product type, beer segment held the highest share of the alcoholic beverages market. According to Wisevoter, in 20223, till now beer consumption per capita is 3.97 L. Beer is produced by the process of brewing, which involves the fermentation of grains, usually barley, coupled with hops, water, and yeast. Beer is often more widely available and accessible compared to other alcoholic beverages. It is produced in large quantities by breweries, and distribution networks ensure its availability in various retail outlets, bars, and restaurants. Additionally, beer tends to be more affordable compared to certain premium spirits and wines, making it a preferred choice for many consumers.

Geographical Analysis

Cultural and Social Factors in Asia-Pacific Region

In 2022, the Asia Pacific region had a significant share in the alcoholic beverages market. The sheer size of the population contributes to a substantial consumer base for distilled beverages, like wine, beer, etc. driving demand and market share. In 2021, about 34 million liters of wine were consumed in India. Out of this, over 18 million liters of wine consumed were still light grape wine in the South Asian country. In countries like China, Japan, South Korea, and India, alcoholic beverages are often a part of traditional ceremonies, celebrations, and social gatherings. These cultural practices contribute to a sustained demand for alcoholic beverages, driving market share in the region.

Competitive Landscape

The major global players include E & J Gallo, William Grant & Sons, Boston Beer, Miller Coors, Diageo, Treasury Wine Estates, Jose Cuervo, Constellation Brands, Beam-Suntory, and Mast-Jaegermeister.

Why Purchase the Report?
• To visualize the global alcoholic beverages market segmentation based on product type, alcoholic content, distribution channel, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of alcoholic beverages market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The Global Alcoholic Beverages Market Report Would Provide Approximately 61 Tables, 59 Figures and 102 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies