According to the research report, the global alcoholic beverages market size & share was valued at USD 1,475.15 billion in 2020 and is expected to reach USD 2,797.05 Billion By 2028, to grow at a CAGR of 9.1% during the forecast period.
Alcoholic beverages like distilled spirit, wine, or beer contain ethyl alcohol or ethanol and behave as an intoxicating agent. Alcoholic beverages are fermented from sugar in berries, grains, fruits, and other elements like tubers, plant saps, milk, and honey. They may be distilled to lessen the native watery liquid to a liquid that has alcoholic strength that is much greater. Beer is the most famed member of the malt family of alcoholic beverages, including stout, ale, malt liquor, and porter.
Wine is made by fermenting grape juices and other foods like cherries, apples, plums, or berries. Winemaking commences with the fruit harvest, the juice of which is fermented in huge vats under meticulous temperature control. The mixture is filtered, aged, and bottled when the fermentation is finished. Innate or exposed grape wines usually contain from 8 to 14% alcohol. These grape wines include Bordeaux, Burgundy, Chianti, and Sauterne. Galvanised wines to which brandy or alcohol has been added accommodate 18 to 21% alcohol, and these wines include port, sherry, and muscatel.
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Important Questions Being Answered by The Market Report
What is the market size and growth?
What are the significant regional markets in the global alcoholic beverages industry?
What has been the influence of covid-19 on the global alcoholic beverages market?
What is the splintering of the market based on the category?
What are the several stages in the value chain?
What are the significant driving factors and challenges?
Top Market Players Are:
The Wine Group
Asahi Group Holding Ltd
Treasury Wine Estates
Thai Beverage Public Co.
Tsingtao Brewery Co Ltd.
Carlsberg Breweries A/S
China Resources beer (Holdings) Company Limited
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Alcoholic beverages market: Growth leading factors
The evolution in the demographics of adult young, growth in disposable income, and the upsurge in consumer demand for super-premium and premium brands are pushing the global alcoholic beverages market ahead. Additionally, present innovations in honey-derived products emerge as a viable option for generating alcoholic drinks that are innovative for consumers and urging the market’s future growth.
There is also an increase in demand for premium alcoholic beverages. Maker’s endeavors to support distribution channels and enlarge purchase channels like the convenience and online stores also contribute to the alcoholic beverages market’s growth. The importance of alcoholic beverages is demonstrated by several customs and restrictions established around the manufacturing and usage of the same. They are of crucial significance in hospitality, wedding, ceremonies, and worship.
With the beginning of covid-19, the alcoholic beverages market was gravely influenced majorly because of the camping down of bars, pubs, restaurants, and specialty shops. During the mid-2020, the simplicity of the lockdown measure brought back the confidence of the retailers. At the same time, a sharp increase in prices was witnessed in some countries mainly due to government taxes and regulations, thus minimally impacting the market.
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Alcoholic Beverages Market: Report Scope
Market Size 2020 Value
USD 1,475.15 billion
Market Outlook for 2028
USD 2,797.04 billion
Expected CAGR Growth
9.1% from 2021 – 2028
2021 – 2028
By Product, By End-User, By Region
Remy Cointreau, The Wine Group, Asahi Group Holding Ltd, Treasury Wine Estates, Thai Beverage Public Co., Tsingtao Brewery Co Ltd., Anheuser-Busch, Brown-Forman, Carlsberg Breweries A/S, China Resources Beer (Holdings) Company Limited, Diageo, Pernod Ricard, Remy Cointreau, SABMiller, Bacardi, Accolade Wines
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
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Alcoholic beverages market: Key segmentation
Insight by type, distribution channel, and region
Based on type, the distilled spirit segment emerged as a dominant segment due to its high stability in context to demand and significant RoI for stakeholders because of its increased growth rate and considerable revenue contribution. The supermarket segment rules the market by distribution channel due to speedy urbanization in several emerging economies. Additionally, the obtainability of products at lesser cost and the convenience of a broad range of alcoholic beverages in the supermarkets fuel the growth of this segment.
By region, Europe represents the biggest market for alcoholic beverages. Europe has the highest per capita consumption, spearheaded by France and is succeeded by Germany, Italy, Spain, the UK, and the Netherlands. North America and Europe have evolved markets with a minor increase in the market size. The Asia Pacific is also blooming quickly due to the growing population and escalated demand for premium and super-premium alcohol. The Asia Pacific is the bedrock of millennials inspiring key players to expand their geographical foothold and increase the base of the consumers in the region.
Browse the full “Alcoholic Beverages Market Share, Size, Trends, Industry Analysis Report, By Type (Beer, Wine, Distilled Spirits, Other); By Distribution Channel; By Region; Segment Forecasts, 2021 – 2028” Report at https://www.polarismarketresearch.com/industry-analysis/alcoholic-beverages-market
The market primarily depends on the type, distribution channel, and region
Alcoholic beverages market: By type
Alcoholic beverages market: By distribution channel
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