Westford USA, Aug. 11, 2023 (GLOBE NEWSWIRE) -- The global Alcoholic Beverages market size is expected to reach USD 2018.81 billion by 2030 and exhibit a CAGR of 2.2% in the forecast period (2023−2030), according to Skyquest's latest research report. The changing consumer preferences and lifestyles, growing social acceptance of alcohol consumption, increasing disposable incomes, expanding urbanization and nightlife culture, innovative product offerings, effective marketing strategies, and the rise of e-commerce platforms. Additionally, the influence of global tourism, cultural exchanges, and the emergence of craft and premium segments are further propelling market growth. Furthermore, evolving regulations and policies, health and wellness concerns, and shifts towards non-alcoholic alternatives are shaping the dynamics of the alcoholic beverages market.
According to SkyQuest's latest global research of the Alcoholic Beverages market, rise in demand for low and no-alcohol options, increased focus on sustainable and eco-friendly practices, growing interest in premium and craft beverages, adoption of innovative packaging solutions, incorporation of technology for personalized consumer experiences, expansion of online alcohol delivery services, and a shift towards health-conscious consumption patterns. Additionally, cultural fusion and experimentation with unique flavors, ingredients, and brewing techniques are gaining traction, along with the exploration of regional and traditional alcoholic beverages. Moreover, the influence of social media in shaping trends and creating brand awareness is becoming increasingly prominent in the market.
Browse in-depth TOC on "Alcoholic Beverages Market"
- Pages - 242
- Tables - 176
- Figures -79
An alcoholic beverage is a drink that contains ethanol, a type of alcohol that acts as a drug and is produced by fermentation of grains, fruits, or other sources of sugar. Alcoholic beverages are typically served cold and can be enjoyed on their own or as part of a cocktail. They can also be used in cooking.
Prominent Players in Alcoholic Beverages Market
- Anheuser-Busch InBev
- Heineken
- China Resources (Holdings) Co Ltd
- Carlsberg
- Molson Coors Beverage Co
- Diageo
- Pernod Ricard
- Bacardi
- Constellation Brands
- Brown-Forman
- Beam Suntory
- William Grant & Sons
- LVMH
- Beam Global Spirits & Wine
- Accolade Wines
- Constellation Brands
- Concha y Toro
- Treasury Wine Estates
- E. & J. Gallo Winery
- The Wine Group
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Report Scope & Segmentation:
| Attributes | Details |
| Forecast Period | 2023-2030 |
| Market Size in 2022 | 1659.73 Billion |
| 2030 Value Projection | 2018.81 Billion |
| CAGR | 2.2% |
| Segments Covered |
|
| Regions Covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Beer Demand to Grow Substantially in the Forecast Period
Beer dominated the global online market as it comes in a wide range of styles and flavors, catering to diverse consumer tastes. This variety attracts a broader consumer base and allows for continuous innovation
Social Occasions and Events are the Leading Application Segment
In terms of application, social occasions and events are the leading segment as alcoholic beverages, especially beer and wine, are commonly consumed during social gatherings, parties, celebrations, and events. These occasions create a consistent demand for alcoholic beverages.
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Europe is the leading Market Due to the Large Consumer Base
Europe has a long-standing tradition of producing and consuming alcoholic beverages, especially wine and beer. Many well-established wine-producing countries like France, Italy, and Spain have contributed to Europe's dominance. Additionally, the beer culture in countries like Germany, the UK, and Belgium has further strengthened Europe's position. The region's cultural ties to alcoholic beverages, along with a strong emphasis on quality and tradition, have played a significant role in its market dominance.
A recent report thoroughly analyzes the major players operating within the Alcoholic Beverages market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavours to develop innovative solutions that cater to the ever-increasing demand for Alcoholic Beverages.
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Key Developments in Alcoholic Beverages Market
- In January 2023, Brown-Forman Corporation acquired the Finlandia vodka brand from Coca-Cola Beverages HBC AG for \$220 million. This acquisition gave Brown-Forman a strong foothold in the vodka market and expanded its portfolio of premium spirits brands.
- In March 2023, Bacardi Limited acquired the Patrón tequila brand from Proximo Spirits for \$5.1 billion. This acquisition gave Bacardi a leading position in the tequila market and expanded its portfolio of premium spirits brands.
Key Questions Answered in Alcoholic Beverages Market Report
- What specific growth drivers will impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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