Global Alcoholic Beverages Market is segmented By Product Type (Beer, Distilled Spirits, Wine, Others), By Alcoholic Content (High, Medium, Low), By Distribution Channel (Supermarket/Hypermarket, Convenience Stores, Online Sales, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Size, Share Outlook, and Opportunity Analysis, 2024-2031
Alcoholic Beverages Market Size
The Global Alcoholic Beverages Market reached USD 2,125.2 billion in 2022 and is projected to witness lucrative growth by reaching up to USD 4,297.1 billion by 2031. The market is growing at a CAGR of 9.2% during the forecast period 2024-2031.
Alcoholic beverages, also called distilled beverages refer to drinks that contain ethanol (commonly known as alcohol) as the main psychoactive ingredient. Alcohol beverages are consumed for various purposes, including relaxation, socializing, celebration, and cultural traditions. Alcoholic beverages come in different forms, such as beer, wine, spirits, and liqueurs, each with its production methods, flavors, and alcohol content.
Consumers are increasingly seeking higher-quality and premium alcoholic beverages. This trend has led to the growth of the alcoholic beverage market. Craft beer, small-batch spirits, and boutique wineries have gained popularity. Consumers are drawn to the authenticity, unique flavors, and local production associated with craft and artisanal products. This trend reflects a desire for more diverse and specialized offerings, as well as a preference for supporting alcoholic beverage market growth.
Market Summary
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Metrics |
Details |
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CAGR |
9.2% |
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Size Available for Years |
2022-2031 |
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Forecast Period |
2024-2031 |
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Data Availability |
Value (US$) |
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Segments Covered |
Product Type, Alcoholic Content, Distribution Channel, and Region |
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Regions Covered |
North America, Europe, Asia-Pacific, South America, and Middle East & Africa |
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Fastest Growing Region |
Asia-Pacific |
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Largest Region |
Europe |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis, and Other key Insights. |
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Market Dynamics
Increase in Young Adults' Intake Of Alcohol is Driving the Growth of Alcoholic Beverages Market
An increase in young adults' intake of alcohol contributes to the growth of the alcoholic beverages market. In recent years, there has been a shift in social norms regarding alcohol consumption among young adults. This cultural change has led to an increase in the overall demand for alcoholic beverages. For instance, in India, about 160 million people consume alcohol. Out Of these, 95 percent are male aged between 18 and 49 years. Billions of liters of alcohol are consumed in the country every year. Young adults often seek social experiences and want to fit in with their peers. Alcohol is frequently associated with socializing and having a good time, which can drive young adults to consume alcohol more frequently.
Health Concerns And Changing Consumer Preferences are Restraining the Growth of the Alcoholic Beverages Market
Excessive alcohol consumption is a leading cause of liver diseases such as alcoholic hepatitis, alcoholic fatty liver disease, and alcoholic cirrhosis. These conditions can result in liver inflammation, scarring, and impaired liver function. Long-term and heavy alcohol consumption can contribute to cardiovascular issues, including high blood pressure, irregular heartbeat (arrhythmia), cardiomyopathy (weakening of the heart muscle), etc.
According to the 2021 National Survey on Drug Use and Health (NSDUH), in the past year, 29.5 million persons aged 12 and older (10.6% of this age group) had AUD (Alcohol use disorder). This includes 16.6 million males ages 12 and older (12.1% in this age group) and 13.0 million females ages 12 and older (9.1% in this age group). According to a report by the World Health Organization, 3.3 million deaths are recorded every year worldwide because of the excess utilization of alcohol. Hence, health-conscious consumers are seeking healthier beverage options that align with their lifestyles which restrain the alcoholic beverage market growth.
Market Segment Analysis
The global alcoholic beverages market is segmented based on product type, alcoholic content, distribution channel, and region.
Widespread Consumption and Availability of Beer
In 2022, the beer segment had the highest revenue share in the alcoholic beverages market. According to Kirin Holdings, about 185.60 million kiloliters of beer was consumed worldwide in 2021, a rise of 4.0% from the previous year. Beer is one of the most widely consumed alcoholic beverages globally, appealing to a broad consumer base. It has a long history of consumption and cultural significance in many regions, making it a popular choice for social gatherings, sporting events, and casual drinking occasions. The beer production process includes brewing in which, the fermentation of grains, typically barley, along with hops, water, and yeast occurs. The wide availability and affordability of beer contribute to its high market share.
Market Geographical Share
Long-standing Tradition of Alcohol Consumption in Europe
In 2022, Europe held the highest share of the alcoholic beverage market. According to Euronews, every person in Europe over the age of 15 consumes an average of 9.5 liters of pure alcohol per year, which is around 190 liters of beer, 80 liters of wine, or 24 liters of spirits. Europe has a long history of alcohol production and consumption, with many countries having strong cultural ties to various alcoholic beverages. Europe is known for its diverse range of alcoholic beverages. Wine, beer, spirits, and liqueurs are all produced extensively in Europe. Different regions specialize in specific types of alcoholic beverages, such as Champagne in France, Scotch whisky in Scotland, and vodka in Eastern Europe. Hence, the long-standing tradition of alcohol consumption in Europe is driving the market growth in that region.
Alcoholic Beverages Companies
The major global players include E & J Gallo, William Grant & Sons, Boston Beer, Miller Coors, Diageo, Treasury Wine Estates, Jose Cuervo, Constellation Brands, Beam-Suntory, and Mast-Jaegermeister.
COVID-19 Impact on Market
The COVID-19 pandemic has had a significant impact on the alcoholic beverages market globally. COVID-19 led to disruptions in global supply chains, including those in the alcoholic beverages industry. Restrictions on movement, lockdowns, and social distancing measures affected the production, distribution, and transportation of alcoholic beverages. This resulted in delays, reduced availability, and increased costs. Many countries implemented strict lockdown measures that included the closure of bars, restaurants, and other hospitality establishments. These closures significantly reduced the demand for on-premise consumption of alcoholic beverages. As a result, sales declined, and businesses in the sector faced financial challenges.
Russia-Ukraine War Impact
The conflict has caused economic disruptions in both Russia and Ukraine. Economic instability, inflation, and currency fluctuations have affected consumer purchasing power and overall market conditions. These factors can impact the affordability and demand for alcoholic beverages. The war has resulted in trade disruptions and restrictions between Russia and Ukraine. Both countries have implemented economic sanctions and trade barriers, including bans or limitations on imports and exports. These restrictions can impact the availability of certain alcoholic beverages in the market and disrupt established supply chains.
Key Developments
- In January 2023, BrewDog, a multinational brewery and pub chain based in Ellon, Scotland, launched a new draught nitro stout- Black Heart. (4.1% ABV).
- In March 2023, Monster Beverage Corporation, an American beverage company that manufactures energy drinks, launched its first alcoholic beverage, The Beast Unleashed made using “malt alcohol” and weighing in at 6% ABV.
- In January 2021, Pernod Ricard, a convivial, responsible and successful global wine and spirits group, heightened its focus on the low-alcohol category by introducing 20% abv variations of Ballantine's Scotch whisky and Beefeater gin.
Why Purchase the Report?
- To visualize the global alcoholic beverages market segmentation based on product type, alcoholic content, distribution channel, and region and understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous alcoholic beverages market-level data points all for segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as Excel consisting of key products of all the major players.
The Global Alcoholic Beverages Market Report Would Provide Approximately 61 Tables, 59 Figures and 102 Pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
