Alcoholic Beverages Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Alcoholic Beverages Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global alcoholic beverages market size reached US$ 1,537.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,805.9 Billion by 2028, exhibiting a growth rate (CAGR) of 2.94% during 2023-2028.

An alcoholic beverage is a drink that is made by mixing ethanol with fermented fruits, grains and sugar. Wines and ciders are made using a fermented fruit base, while beers and spirits are manufactured by fermenting barley and rye respectively. The alcoholic content and flavor of the beverage are affected by how long it is stored to age and the container in which it is fermented. Alcoholic beverages are widely consumed as rejuvenating and recreational drinks.

Innovations and advancements in the manufacturing of vodka, flavored wine, beer and cocktail, coupled with the changing lifestyles of consumers, their beverage preferences, and increase in the number of breweries and wineries worldwide are aiding the growth of the market. Additionally, the demand for premium and super-premium alcoholic beverages is growing at a significant rate across both developed and emerging economies. The growing trend of socializing and mid-week/weekend parties among young and working professionals has also positively influenced the market. With increasing urbanization, premium beverages are now being associated with class and sophistication that has resulted in consumers looking for unique and innovative drinking experiences. This has led to a rising inclination towards experimentation with different varieties of flavored alcohols and mixed beverages. Furthermore, factors such as growth in the food and beverage industry, rising rate of social media and internet penetration, and improving distribution and retail channels are also contributing to the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global alcoholic beverages market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on category, alcoholic content, flavour, packaging type and distribution channel.

Breakup by Category:

Beer
Wine

Still Light Wine
Sparkling Wine

Spirits

Baijiu
Vodka
Whiskey
Rum
Liqueurs
Gin
Tequila
Others

Breakup by Alcoholic Content:

High
Medium
Low

Breakup by Flavour:

Unflavoured
Flavoured

Breakup by Packaging Type:

Glass Bottles
Tins
Plastic Bottles
Others

Breakup by Distribution Channel:

Supermarkets and Hypermarkets
On-Trade
Specialist Retailers
Online
Convenience Stores
Others

Breakup by Region:

North America
Europe
Asia Pacific
Middle East and Africa
Latin America

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Anheuser-Busch InBev SA/NV, MillerCoors (Molson Coors Brewing Company), Heineken Holdings N.V., Carlsberg Breweries A/S, Diageo plc, Bacardi & Company Limited, Olvi Oyj, Tsingtao Brewery Company Limited, Beijing Yanjing Brewery Co. Ltd., Kirin Holdings Company, Limited, etc.

Key Questions Answered in This Report:

What was the size of the global alcoholic beverages market in 2022?

What is the expected growth rate of the global alcoholic beverages market during 2023-2028?

What has been the impact of COVID-19 on the global alcoholic beverages market?

What are the key factors driving the global alcoholic beverages market?

What is the breakup of the global alcoholic beverages market based on the category?

What is the breakup of the global alcoholic beverages market based on the distribution channel?

What are the key regions in the global alcoholic beverages market?

Who are the key players/companies in the global alcoholic beverages market?