Alcoholic Drinks Market Forecasts to 2030 – Global Analysis By Product Type (Hard Seltzer, Beer, Spirits, Wine, Cider, RTD pre-mixes and Other Product Types), Distribution Channel and By Geography

Alcoholic Drinks Market Forecasts to 2030 – Global Analysis By Product Type (Hard Seltzer, Beer, Spirits, Wine, Cider, RTD pre-mixes and Other Product Types), Distribution Channel and By Geography

According to Stratistics MRC, the Global Alcoholic Drinks Market is accounted for $1,826.3 million in 2023 and is expected to reach $4,113.8 million by 2030 growing at a CAGR of 12.3% during the forecast period. Alcoholic beverages are alcoholic beverages made from materials that come from plants through anaerobic fermentation. It is a psychotropic substance that slows down or affects the brain. These drinks are divided into groups based on the components and techniques used to manufacture them. Sugar from fruits, berries, grains, and other related products including plant sap, tubers, honey, and milk are fermented to create it. The watery liquid that results next is reduced through distillation to much stronger alcoholic liquor.

According to the Organization for Economic Co-operation and Development (OECD), a slight increase was observed in alcohol purchases in some countries. It stated that in the U.K., there was an increase of 4.5% in total alcohol beverage duty receipts from April to October 2020 compared to the same period in the previous year.

Market Dynamics

Driver

Rising urban population

People in emerging economies are experimenting with new forms of entertainment as a result of the growing urban population and increased disposable incomes. Urban areas have more alcoholic beverage usage because of stressful employment and the idea that alcohol calms the mind. Manufacturers of alcoholic beverages are often adding new flavours to their goods. Additionally, the market is growing because of the impact of young people on social media, their high family wealth, and their simple access to alcoholic beverages.

Restraint

Prominence of counterfeit products

The growing market for fake alcohol products poses a persistent threat to the alcohol industry. Such products have a significant negative impact on consumer health and cause businesses to lose a lot of money. However, other cheap raw ingredients used to manufacture phoney alcohol products pose major health risks. Products that are counterfeit hurt both the brand and the economy. Therefore, it is crucial to resist the spread of fake alcoholic beverages because it could impede the market's expansion.

Opportunity

Increasing consumption of alcoholic drinks

In emerging markets, the demand for alcoholic beverages is rising more quickly. The market's expansion is also greatly aided by the efforts of alcoholic beverage companies to improve distribution networks and widen their sales networks, such as online retailers and convenience stores. The development of alcoholic beverages is being aided by new product releases and improvements. Therefore, the increasing alcohol consumption among young adults due to rise in disposable income is significantly driving market growth.

Threat

Side effects

Alcohol overdoses have a number of negative side effects, including high blood pressure, heart disease, stroke, liver damage, and digestive issues. Alcohol abuse can lead to a variety of health problems. Additionally, being intoxicated commonly results in dangerous collisions, especially when driving because it impairs judgement and motor skills. As a result, the adverse effects of heavy alcohol consumption may prevent the market for alcoholic beverages from expanding.

Covid-19 Impact

The COVID-19 lockdown, which forbade socialising, and the pandemic's closure of all bars, clubs, and restaurants had an influence on consumers' ability to buy and drink alcohol. The global consumption of alcohol has decreased, and the alcoholic beverage industry has seen a drop in sales. Consumers' drinking habits significantly changed. Before consumers started drinking alcohol-based beverages at home, they did so in bars and restaurants. Due to the entire shutdown, the sales of alcoholic beverages at bars, clubs, pubs, and restaurants were also impacted.

The wine segment is expected to be the largest during the forecast period

The wine segment is estimated to have a lucrative growth. Wine has multiple health benefits. t offers antioxidants, which is a key aspect driving the segment's growth and promoting longevity. Wine can also assist prevent dangerous inflammation and heart disease to support good health. In addition, red wine contains more antioxidants, which reduce the risk of heart disease and stave off coronary artery disease. These are the elements boosting the wine segment's growth over the forecasted period of time.

The liquor stores segment is expected to have the highest CAGR during the forecast period

The liquor stores segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the rapid urbanization in the emerging economies. The market for alcoholic beverages is predicted to expand due to consumers' growing trend of embracing western lifestyle. Domestic liquor stores offer a wider variety of alcoholic beverages at reduced prices. The market will increase as a result of supportive steps implemented by numerous governments throughout the world to reduce the complexity of liquor licences.

Region with Largest share

Asia Pacific is projected to hold the largest market share during the forecast period owing to increase in beer demand. This is due to the rising need for spirits made from agave in emerging nations to meet the demand for alcoholic beverages. During the projected period, it is predicted that the growing popularity of beer, gin, and tequila flavours would exhibit the quickest growth rate.

Region with highest CAGR

Europe is projected to have the highest CAGR over the forecast period, owing to the high demand for alcoholic beverages in the region and prominent players. Due to the growing number of brewpubs in the area, millennials are showing a growing preference for craft brews. The industry is expanding due to the cultural relevance of alcoholic beverages, which is supported by beer and other alcohol-based beverage festivals like Oktoberfest.

Key players in the market

Some of the key players profiled in the Alcoholic Drinks Market include Molson Coors Brewing Co., Diageo Plc, Pernod Ricard SA, Beam Suntory Inc., Asahi Breweries Ltd., Constellation Brands Inc., United Spirits Ltd., Anheuser-Busch InBev SA/NV, Carlsberg A/S, Bacardi Limited, Aceo Ltd., Vina Concha y Toro SA, Treasury Wine Estates Ltd., The Wine Group LLC, Allied Blenders and Distillers Pvt. Ltd. and Anora Group Plc.

Key Developments

In November 2022, Diageo announced acquiring Balcones Distilling, often known as ""Balcones."" Balcones Distilling is among the leading American Single Malt Whisky producers in the United States. Balcones hold Texas' intense heat and temperature fluctuations to make whiskies with differentiated flavors.

In January 2022, Constellation Brands, Inc., a significant alcoholic beverage producer, signed a brand authorization agreement with the Coca-Cola Company in the U.S. to bring its FRESCA brand into the alcoholic beverage industry by manufacturing, distribution, launching, and marketing of FRESCA mixed completely new, different line of spirit-based, ready-to-drink cocktails.

Product Types Covered
• Hard Seltzer
• Beer
• Spirits
• Wine
• Cider
• RTD pre-mixes
• Other Product Types

Distribution Channels Covered
• Liquor Stores
• Pub
• Grocery Shops
• Internet Retailing
• Restaurants
• Bars
• Supermarkets
• Other Distribution Channels

Regions Covered
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements