Global Alcoholic Beverages Market 2022-2028

Global Alcoholic Beverages Market 2022-2028

The global Alcoholic Beverages Industry is estimated to register steady growth of around 3.1% over the forecast period. Increased pool of young-adult population, growing disposable income around the globe and new product launches are some of the key pivotal factors that are augmenting the growth of the market. However, the outbreak of COVID-19 has been affecting the companies operating in the alcoholic beverage industry across the globe. The epidemic spread has been disrupting supply chain of companies and forcing companies to renew their business model and go to market strategy. Moreover, the outbreak has also started showing signs on the sales of the companies. For instance, on 24th March 2020, Pernod Ricard revised its outlook for the current fiscal year and expected its profit margins to decline by nearly 20%, mainly due to spread of COVID-19. Moreover, companies are also witnessing a leap in their off-premise sales than on-premise sales. For instance, Constellations Brands has seen its beer volume up by nearly 30% in the US off-premise channel during February 2020 as the customers avoid on-premise to stem the spread of COVID-19.

The report analyzes the global alcoholic beverages market on the basis of type, packaging type, and geography. Based on the type, the market is segmented into beer, distilled spirit, and wine. Beer held the dominating share in the global alcoholic beverages market in 2018. Beer is the most common alcoholic beverage, consumed across the globe. The introduction of new ingredients and innovative flavors in craft beers has also attracted consumers from around the globe. Additionally, the growing demand in emerging economies such as China and India are also contributing to the growing beer market. Further, the growing demand for brandy, whiskey, rum, or arrack is contributing to the segmental growth of the distilled spirit market. Based on packaging type, the market is classified into glass bottles, cans, and others.

Geographically, the market is analyzed into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific held the dominating share in the global alcoholic beverages market with China holding over one-third of the regional alcoholic beverage consumption. Apart from China, economies such as India, South Korea, and Japan are also influencing the Alcoholic Beverages Industry growth of the Asia-Pacific. Factors that motivates the growth of the market in the region include large pool of population consuming alcohol in the region, reinforced by the presence of highly populated countries such as China and India. Increasing consumption of beer and spirit drinks in the region has been contributing to the growth of the market. However, the industry is likely to be getting affected by the spread of COVID-19 globally. It is expected that sales of several leading breweries based in China are likely to fall by around one-third as the country’s on-premise slowly reopens.

Furthermore, the global alcoholic beverages market consists of several players that are manufacturing and marketing various types of alcoholic beverages to cater to a wide range of customers from around the globe. The key players that are active in the market include Carlsberg A/S, Diageo PLC, Suntory Holdings Ltd., Anheuser-Busch InBev SA/NV, United Breweries, Ltd., Molson Coors Brewing Co., Asahi Group Holdings Ltd., Halewood International Ltd., Bacardi Ltd., and Bronco Wine Co. These players adopt various strategies in order to remain competitive in the global market. Some of the strategies followed by market players include mergers and acquisitions, product offering expansion, geographical expansion, and partnerships and collaborations.

The Report Covers

Comprehensive research methodology of the global Alcoholic Beverages Industry.

This report also includes a detailed and extensive market overview with key analyst insights.

An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.

Analysis of regional regulations and other government policies impacting the global Alcoholic Beverages Industry.

Insights about market determinants that are stimulating the global Alcoholic Beverages Industry.

Detailed and extensive market segments with regional distribution of forecasted revenues.

Extensive profiles and recent developments of market players.