The global alcoholic beverages market was valued at $1624 billion in 2021, and is projected to reach $2036.6 billion by 2031, growing at a CAGR of 2.2% from 2022 to 2031. A beverage that contains ethanol is referred to as an alcoholic beverage, adult beverage, or a drink. This drug-like type of alcohol is regarded as an alcoholic beverage and is produced by fermenting grains, fruits, or other sources of sugar. In many cultures, drinking or using alcoholic beverages is a prominent social activity. Regulations frequently apply to the production, sale, and consumption of alcoholic beverages. They may require the use of a warning label and the labeling of the alcohol content percentage. Alcohol is typically acceptable everywhere else while such activity is outright forbidden in some countries.
Surge in demand for cocktails is the major driver of the alcoholic beverages market. Premium and handcrafted variants are gaining more traction around the globe owing to changing lifestyles and increase in disposable income. Alcohol beverages are gaining more popularity across the world as there is an increase in the number of hotels, bars, and restaurants significantly. Alcohol beverages are offered in a variety of drinks such as the popular drink margarita. In addition, key players in the market are introducing new flavors to attract more consumers and expand their portfolios. The increase in the popularity of spirits among youngsters is further acting as a key driver of the alcoholic beverages market. There is a significant increase in the involvement of social media in life of everyone as the number of consumers increased on social media platforms. There is a rise in inclination of youngsters toward alcohol, due to the increase in the number of parties and availability of alcoholic beverages in bars and restaurants. In addition, an increase in penetration of e-commerce sales is expected to offer the remunerative opportunity for the expansion of the alcohol market. Furthermore, the outbreak of the COVID-19 pandemic escalated the sales of alcohol beverages through e-commerce platforms, which notably contributed to the growth of the global market.
Moderate alcohol use raises HDL levels, and greater HDL levels are associated with better protection against heart disease. In addition, moderate alcohol consumption has been linked to rise in blood clotting factors like tissue-type plasminogen activator, fibrinogen, clotting factor VII, and von Willebrand factor as well as improvements in insulin sensitivity, which explains why the demand for alcoholic beverages is expected to rise everywhere. The occurrence of small blood clots, which are a major cause of many heart attacks and the most common type of stroke and can obstruct arteries in the heart, neck, and brain, would also probably be limited by such changes.
The alcohol beverage industry is a strong premium sector, despite the fact that price is still a key determining factor in purchases. Huge openness of customers to innovation and mixology's growth in popularity of mixology support it. The global alcoholic beverage market premiumization of global alcoholic beverage market is anticipated to raise demand for unique goods of affluent customers. The desire of consumers to drink less alcohol without completely giving it up is related to the premiumization of spirits. As a result, they are more inclined to pay more for higher-quality alcohol. Therefore, major brands identify new opportunities in the artisan alcohol beverage sector. If distilleries follow the volume regulations, they might profit from the growing trend.
Moreover, the Asia-Pacific alcoholic beverage market is projected to witness the fastest growth during the forecast period, owing to the availability of alcohol products through e-commerce sites in the region. Furthermore, the launch of new and exciting flavors is anticipated to fuel the demand for alcoholic beverages across the globe.
However, several aspects such as concerns related to health, increase in use of alternatives, such as non-alcoholic beverages, and stringent government policies related to alcoholic beverages are projected to hamper the growth of the global alcoholic beverages market during the forecast period. Conversely, increase in investment in R&D activities and rise in number of manufacturers are expected to pose lucrative opportunities in the upcoming years.
Present views and expectations of consumers toward alcohol consumption are influenced by their prior alcohol-related experiences. Drinkers may be more motivated to consume alcohol if they think back on their prior satisfying experiences with it. One of the most common causes of drinking across all demographics is peer pressure as they are becoming more concerned about the possibility of being excluded or discarded from a group of people while participating in an activity. Teenagers across the globe are drawn to a variety of brands, which can lead to addiction since they are forced to consume more alcohol than they would like, hence the demand in the alcohol beverage likely to increase in the forecast year.
The alcoholic beverage market is segmented on the basis of type, distribution channel, and region. On the basis of type, the market is categorized into beer, distilled spirits, wine and others. On the basis of distribution channel, the market is divided into convenience stores, on-premises, liquid stores, grocery stores, internet retailing and supermarkets. On the basis of region, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Argentina and Rest of LAMEA).
The major players operating in the global alcoholic beverage are Anheuser-Busch InBev (AB InBev), Bacardi Limited, Carlsberg Group (Carlsberg), Constellation Brands, Inc., Diageo Plc (Diageo), Heineken Holding NV. (Heineken), Molson Coors Brewing Company, Pernod Ricard SA, Suntory Holdings Limited, and United Spirits Limited.
Surge in demand for cocktails is the major driver of the alcoholic beverages market. Premium and handcrafted variants are gaining more traction around the globe owing to changing lifestyles and increase in disposable income. Alcohol beverages are gaining more popularity across the world as there is an increase in the number of hotels, bars, and restaurants significantly. Alcohol beverages are offered in a variety of drinks such as the popular drink margarita. In addition, key players in the market are introducing new flavors to attract more consumers and expand their portfolios. The increase in the popularity of spirits among youngsters is further acting as a key driver of the alcoholic beverages market. There is a significant increase in the involvement of social media in life of everyone as the number of consumers increased on social media platforms. There is a rise in inclination of youngsters toward alcohol, due to the increase in the number of parties and availability of alcoholic beverages in bars and restaurants. In addition, an increase in penetration of e-commerce sales is expected to offer the remunerative opportunity for the expansion of the alcohol market. Furthermore, the outbreak of the COVID-19 pandemic escalated the sales of alcohol beverages through e-commerce platforms, which notably contributed to the growth of the global market.
Moderate alcohol use raises HDL levels, and greater HDL levels are associated with better protection against heart disease. In addition, moderate alcohol consumption has been linked to rise in blood clotting factors like tissue-type plasminogen activator, fibrinogen, clotting factor VII, and von Willebrand factor as well as improvements in insulin sensitivity, which explains why the demand for alcoholic beverages is expected to rise everywhere. The occurrence of small blood clots, which are a major cause of many heart attacks and the most common type of stroke and can obstruct arteries in the heart, neck, and brain, would also probably be limited by such changes.
The alcohol beverage industry is a strong premium sector, despite the fact that price is still a key determining factor in purchases. Huge openness of customers to innovation and mixology's growth in popularity of mixology support it. The global alcoholic beverage market premiumization of global alcoholic beverage market is anticipated to raise demand for unique goods of affluent customers. The desire of consumers to drink less alcohol without completely giving it up is related to the premiumization of spirits. As a result, they are more inclined to pay more for higher-quality alcohol. Therefore, major brands identify new opportunities in the artisan alcohol beverage sector. If distilleries follow the volume regulations, they might profit from the growing trend.
Moreover, the Asia-Pacific alcoholic beverage market is projected to witness the fastest growth during the forecast period, owing to the availability of alcohol products through e-commerce sites in the region. Furthermore, the launch of new and exciting flavors is anticipated to fuel the demand for alcoholic beverages across the globe.
However, several aspects such as concerns related to health, increase in use of alternatives, such as non-alcoholic beverages, and stringent government policies related to alcoholic beverages are projected to hamper the growth of the global alcoholic beverages market during the forecast period. Conversely, increase in investment in R&D activities and rise in number of manufacturers are expected to pose lucrative opportunities in the upcoming years.
Present views and expectations of consumers toward alcohol consumption are influenced by their prior alcohol-related experiences. Drinkers may be more motivated to consume alcohol if they think back on their prior satisfying experiences with it. One of the most common causes of drinking across all demographics is peer pressure as they are becoming more concerned about the possibility of being excluded or discarded from a group of people while participating in an activity. Teenagers across the globe are drawn to a variety of brands, which can lead to addiction since they are forced to consume more alcohol than they would like, hence the demand in the alcohol beverage likely to increase in the forecast year.
The alcoholic beverage market is segmented on the basis of type, distribution channel, and region. On the basis of type, the market is categorized into beer, distilled spirits, wine and others. On the basis of distribution channel, the market is divided into convenience stores, on-premises, liquid stores, grocery stores, internet retailing and supermarkets. On the basis of region, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Argentina and Rest of LAMEA).
The major players operating in the global alcoholic beverage are Anheuser-Busch InBev (AB InBev), Bacardi Limited, Carlsberg Group (Carlsberg), Constellation Brands, Inc., Diageo Plc (Diageo), Heineken Holding NV. (Heineken), Molson Coors Brewing Company, Pernod Ricard SA, Suntory Holdings Limited, and United Spirits Limited.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the alcoholic beverages market analysis from 2021 to 2031 to identify the prevailing alcoholic beverages market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the alcoholic beverages market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global alcoholic beverages market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Beer
- Beer Type
- Ale
- Lager
- Hybrid
- Distilled Spirits
- Distilled Spirits
- Rum
- Whiskey
- Vodka
- Others
- Wine
- Wine
- Sparkling Wine
- Fortified Wine
- Others
- Others
By Distribution Channel
- Convenience Stores
- On Premises
- Liquor Stores
- Grocery Shops
- Internet Retailing
- Supermarkets
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa,
- Argentina
- Rest of LAMEA
Key Market Players
- Pernod Ricard
- Bacardi Limited
- Carlsberg Group
- Tsingtao Brewery Co., Ltd.
- Constellation Brands, Inc.
- Brown-Forman Corporation
- Wuliangye Yibin Co., Ltd.
- Suntory Holdings Limited
- Asahi Group Holdings, Ltd.
- Budweiser Brewing Company APAC Limited
- Diageo plc.
- Molson Coors Beverage Company
- Beijing Yanjing Brewery Co., Ltd.
- Anheuser-Busch InBev SA/NV
- Heineken N.V.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: ALCOHOLIC BEVERAGES MARKET, BY TYPE
CHAPTER 5: ALCOHOLIC BEVERAGES MARKET, BY DISTRIBUTION CHANNEL
CHAPTER 6: ALCOHOLIC BEVERAGES MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report titled, “Alcoholic Beverages Market," the alcoholic beverages market was valued at $1624 billion in 2021, and is estimated to reach $2036.6 billion by 2031, growing at a CAGR of 2.2% from 2022 to 2031.Alcoholic beverages, adult beverages, or drinks are all terms used to describe liquids that contain ethanol. This drug-like kind of alcohol is classified as an alcoholic beverage produced by fermenting grains, fruits, or other sources of sugar. Drinking or using alcoholic beverages is a common social practice in many cultures. Alcoholic beverage manufacture, sale, and consumption are typically subject to regulations. The use of a warning label and the level of alcohol content on the label may be mandated by regulations. Alcohol is often acceptable everywhere else, even though such behavior is expressly prohibited in some nations.
One of the trends in alcoholic beverages includes the consumption of alcohol by consumers to increase their enjoyment. Moreover, consumers enjoy becoming drunk because it makes them feel energetic and upbeat, and drinking with friends can be enjoyable. Drinking makes those who are anxious in social settings more at ease and increases their enjoyment. People indulge in alcohol because they believe it will make their time at events like barbecues, nightclubs, and parties more enjoyable. Adults regularly consume alcohol the majority of families. It is widely accessible in the majority of supermarkets. The behavior expectations of society are known as social norms. It is consumed on a regular basis and on certain occasions, hence increasing in demand across the globe.
Alcohol-related stimuli, such as television programs, event advertisements, and others, boost the need for alcohol. Financial pressures like taxation on the other hand make drinking less appealing. According to data, simply increasing the price of an alcoholic beverage by 10% can cut down consumption by 7%. Alcohol may have a higher value to people who are going through a stressful time in their lives since it helps to lessen their bad emotions. The stress and worry are at least momentarily alleviated by drinking.
The alcohol beverage business is a robust premium sector despite the fact that cost is still a significant deciding factor in purchases. Mixology is gaining popularity, and consumers are incredibly open to creativity. Niche products are anticipated to become more in demand from wealthy consumers due to the premiumization of the global alcoholic beverage market. Consumers have expressed a wish to drink less alcohol without giving it up entirely as spirits have become more expensive. As a result, people are anticipated to pay more for alcohol of greater quality. For this reason, leading brands spot fresh prospects in the artisan alcohol beverage market. If distilleries adhere to the volume restrictions, they may benefit from the expanding trend.
The surge in demand for alcoholic beverages in developing countries serves as a potential opportunity for the expansion of the global alcohol beverage market. In developing countries such as India and Brazil, many consumers have adopted western culture and are attracted to alcoholic spirits. In bars, and pubs and house parties, tequila is gaining popularity due to its new flavors and vast taste. Developing countries like India and China have a huge youth base that is a major opportunity for the market as youngsters are getting inclined toward alcohol and adopting the party culture. People in these countries are being more sophisticated about drinking and are following the trend of parties and outings. Manufacturers further focus on investing in developing countries due to government support and an increase in disposable income.
The alcoholic beverage market is segmented on the basis of type, distribution channel, and region. On the basis of type, the market is categorized into beer, distilled spirits, wine, and others. On the basis of distribution channel, the market is divided into convenience stores, on-premises, liquid stores, grocery stores, internet retailing and supermarkets. On the basis of region, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Argentina, and Rest of LAMEA).
The major players operating in the global alcoholic beverage are Anheuser-Busch InBev (AB InBev), Bacardi Limited, Carlsberg Group (Carlsberg), Constellation Brands, Inc., Diageo Plc (Diageo), Heineken Holding NV. (Heineken), Molson Coors Brewing Company, Pernod Ricard SA, Suntory Holdings Limited, and United Spirits Limited.
Key findings of the study
- The global alcoholic beverage market was valued at $$1,624,004.40 million in 2021 and is projected to reach $2,036,573.60 million by 2031, registering a CAGR of 2.2% from 2021 to 2031.
- On the basis of type, the beer segment was the highest contributor to the market with a market share of 41.6% in 2021 and is expected to grow at a CAGR of 1.9% during the forecast period.
- On the basis of distribution channel, the supermarkets segment was the highest contributor to the market, and is estimated to grow at a CAGR of 1.9% during the forecast period.
- On the basis of region, Asia-Pacific was the highest revenue contributor accounting for more than 35% in 2021, and is estimated to grow at a CAGR of 2.3%.
Companies Mentioned
- Pernod Ricard
- Bacardi Limited
- Carlsberg Group
- Tsingtao Brewery Co., Ltd.
- Constellation Brands, Inc.
- Brown-Forman Corporation
- Wuliangye Yibin Co., Ltd.
- Suntory Holdings Limited
- Asahi Group Holdings, Ltd.
- Budweiser Brewing Company APAC Limited
- Diageo plc.
- Molson Coors Beverage Company
- Beijing Yanjing Brewery Co., Ltd.
- Anheuser-Busch InBev SA/NV
- Heineken N.V.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 279 |
| Published | February 2023 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 1624 billion |
| Forecasted Market Value ( USD | $ 2036.6 billion |
| Compound Annual Growth Rate | 2.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
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