Portland, OR, March 22, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global alcoholic beverages market was estimated at $1,624 billion in 2021 and is expected to hit $2,036.6 billion by 2031, registering a CAGR of 2.2% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report coverage & details:
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $1,624 Billion |
| Market Size in 2031 | $2,036.6 Billion |
| CAGR | 2.2% |
| No. of Pages in Report | 279 |
| Segments Covered | Type, Distribution Channel, and Region. |
| Drivers | Increase in disposable income and changing consumer preferences |
| Rise in the youth population and average number of female drinkers | |
| Increase in the number of on-premise distribution channels | |
| Restraints | Growing popularity of non-alcoholic beverages |
| Volatile raw materials prices | |
| Taxations and higher excise duties on imported as well as local alcoholic beverages | |
| Opportunities | Commitment toward sustainable packaging |
| Development of naturally sweetened healthier alcoholic drinks |
Covid-19 scenario-
- During the pandemic, the consumption of alcoholic beverages shifted toward online retailers, leading to a boost in sales for the alcoholic beverages market.
- However, the on-premise consumption of alcoholic beverages was negatively impacted due to the closure or reduced capacity of bars and restaurants, resulting in a decline in sales through this channel.
The report comprehensively analyzes the global alcoholic beverages market, covering its various segments such as Type, Distribution Channel, and Region. The report presents the analysis of each segment and sub-segment through tabular and graphical representation. This analysis can be useful for investors and market players to identify the highest revenue-generating and fastest-growing segments, allowing them to devise effective strategies.
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By type, the beer segment contributed to more than two-fifths of the global alcoholic beverages market share in 2021 and is projected to rule the roost by 2031. The distilled spirits segment, however, would display the fastest CAGR of 2.57% throughout the forecast period. The wine and others segments are also discussed in the report.
By distribution channel, the supermarkets segment garnered the highest share in 2021, accounting for more than one-fourth of the global alcoholic beverages market revenue. The internet retailing segment, simultaneously, would cite the fastest CAGR of 4.47% from 2022 to 2031.
By region, Asia-Pacific held the major share in 2021, garnering more than one-third of the global alcoholic beverages market revenue. Europe, simultaneously, would showcase the fastest CAGR of 2.48% from 2022 to 2031. The other provinces studied through the report include North America and LAMEA.
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The key market players analyzed in the global alcoholic beverages market report include Bacardi Limited, Carlsberg Group (Carlsberg), Constellation Brands, Inc., Diageo Plc (Diageo), Heineken Holding NV. (Heineken), United Spirits Limited, Anheuser-Busch InBev (AB InBev), Molson Coors Brewing Company, Pernod Ricard SA, and Suntory Holdings Limited. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.
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