Alcoholic Beverages Market Size is projected to reach USD 2,001 billion by 2031, growing at a CAGR of 2.5%: Straits Research

The global alcoholic beverages market size was valued at USD 1,603 billion in 2022. It is projected to reach USD 2,001 billion by 2031, growing at a CAGR of 2.5% during the forecast period (2023–2031). The highest global market share for alcoholic beverages is held by Europe. Due to the region's significant players and the high demand for alcoholic beverages.

 | Source: Straits Research Straits Research

New York, United States, June 15, 2023 (GLOBE NEWSWIRE) -- Alcoholic beverages are the most popular recreational substance on the planet. Growth in the global population of young adults and the subsequent rise in demand for alcoholic beverages are the two main factors driving the world market for alcoholic beverages. Trade volumes will need to rise to support the expanding population. Players in the alcoholic beverage market are therefore anticipated to profit from the rising demand for alcoholic beverages as the population increases over the course of the forecast period. The growing popularity of socializing and weekend/midweek get-togethers among young and working professionals has also been advantageous for the sector. The consumption of luxury beverages has expanded as a result of its association with sophistication and class as a result of greater urbanization.

The Rising Urban Population and Rising Disposable Incomes Drive the Global Market

People in emerging economies are exploring new forms of entertainment like nightclubs and hanging out in bars and lounges due to the growing urban population and increased disposable incomes. Additionally, sales of alcoholic beverages are driven by young individuals with wealthy families, substantial social media influence, and easy access to alcohol. Urban areas have more alcoholic beverage usage because of stressful employment and the notion that alcohol relaxes the mind. Manufacturers of alcoholic beverages are often adding new flavors to their products. Customers are intrigued to try these new products, especially millennials.


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Report Scope

Report Metric Details
Market Size by 2031 USD 2,001 billion                                                                    
Market Size in 2022 USD 1,603 billion
CAGR 2.5%
Historical Data 2020-2021
Base Year 2022
Forecast Period 2023-2031
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered By Distribution Channel, By Type
Geographies Covered North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors Asahi Group Holdings Ltd., United Breweries Limited, Bundaberg Brewed Drinks Pty Ltd, Halewood International Holdings Plc, Bacardi Limited, Heineken Holding N.V., The Boston Beer Company Inc., Pernod Ricard SA, Carlsberg A/S, Suntory Holdings Ltd., Constellation Brands Inc., Brown-Forman Corporation, Craft Brew Alliance Inc., Anheuser-Busch InBev SA/NV, Diageo Plc., Molson Coors Brewing Co., The Wine Group LLC, DGB Pty Ltd., Accolade Wines Holdings, Australia Pty Limited, and Bronco Wine Company.
Market Restraints  Emerging Energy Drinks and Consumer’s Health Perspectives
Key Market Drivers
  • The Rising Urban Population and Rising Disposable Incomes
  • Innovations in the Contents of Alcoholic Beverages

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Regional Analysis

The highest global market share for alcoholic beverages is held by Europe. Due to the region's significant players and the high demand for alcoholic beverages, it is anticipated to grow at an optimal CAGR. More than a third of Europeans aged 15 and older, according to Eurostat, consume alcohol at least once a week. The demand for alcohol is higher in the United Kingdom, where 45 percent of people drink once a week compared to 41 percent in Ireland, 40 percent in Germany, and 40 percent in Denmark. Europe's nations all have varied alcoholic preferences. Historically, these preferences have been linked to certain geographical locations. Drinking beer, wine, and spirits are connected with the Central European region of Europe, the Mediterranean region of Europe, and the Eastern and Northern European regions, respectively. The demand for alcoholic beverages is strongest in the following European nations: Lithuania, the Czech Republic, France, Ireland, and Belarus.

North America makes up a significant portion of the market. An increase in beer demand and a leaning tendency toward alcohol usage are two factors driving the North American alcoholic drinks market. Product innovation by manufacturers in an effort to enhance their market share is another element fueling market expansion. The whiskey market is expected to grow by 3.2%. In the U.S., alcohol has a significant cultural impact. Alcohol consumption is socially associated in America with gatherings and celebrations. Furthermore, drinking is encouraged as a prerequisite for having fun with friends. Adults around the nation frequently bring alcoholic beverages with them as gifts while visiting friends or family.

In Asia Pacific, the alcoholic drinks industry is anticipated to expand quickly due to the region's large young adult population and increased demand for alcoholic beverages. Alcoholic beverage sales in Asia-Pacific are anticipated to increase at a 2.5% CAGR. Because of changing lifestyles, more disposable income, and a young population, the Asia-Pacific area is currently seeing an upsurge in alcohol use. The region's increased alcohol consumption is partly due to the acceptance of western culture, the perception of drinking as a social and leisure activity, and an increase in parties and festivities.

The market for alcoholic beverages in Africa is anticipated to expand significantly over the future years as a result of rising tourism and a boom in demand for alcoholic beverages in the duty-free retail sector. Mexico and Brazil are two of the region's top alcoholic beverage consumers. Some Middle Eastern nations, notably Saudi Arabia, Iran, Kuwait, Yemen, and the Emirate of Sharjah, have alcohol prohibitions. Even in those nations where alcohol consumption is legal, consumption is still quite low.

Key Highlights

  • The global alcoholic beverages market size is projected to reach USD 2,001 billion by 2031, growing at a CAGR of 2.5% during the forecast period (2023–2031).
  • Based on distribution channels, the global alcoholic beverage market is segmented into supermarkets, liquor stores, convenience stores, on-premises, grocery stores, and online retail. Supermarkets are expected to dominate the market.
  • Based on type, the global alcoholic beverage market is segmented into distilled spirits, beer, champagne, wine, and other alcoholic beverages. Beer has the largest market share due to its growing popularity worldwide.
  • The European market for alcoholic beverages accounts for the largest global market share.

List of Top Alcoholic Beverages Market Manufacturers

  1. Asahi Group Holdings Ltd.
  2. United Breweries Limited
  3. Bundaberg Brewed Drinks Pty Ltd
  4. Halewood International Holdings Plc
  5. Bacardi Limited
  6. Heineken Holding N.V.
  7. The Boston Beer Company Inc.
  8. Pernod Ricard SA
  9. Carlsberg A/S
  10. Suntory Holdings Ltd.
  11. Constellation Brands Inc.
  12. Brown-Forman Corporation
  13. Craft Brew Alliance Inc.
  14. Anheuser-Busch InBev SA/NV
  15. Diageo Plc.
  16. Molson Coors Brewing Co.
  17. The Wine Group LLC
  18. DGB Pty Ltd.
  19. Accolade Wines Holdings Australia Pty Limited
  20. Bronco Wine Company.


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Global Alcoholic Beverages Market: Segmentation

By Distribution Channel

  • Supermarkets
  • Liquor Stores
  • Convenience Stores
  • On-Premises
  • Grocery Stores
  • Online Retail

By Type

  • Distilled spirits
  • Beer
  • Champagne
  • Wine
  • Other

By Region

  • Europe
  • North America
  • Asia-Pacific
  • LAMEA


TABLE OF CONTENT

  1. EXECUTIVE SUMMARY
  2. RESEARCH SCOPE & SEGMENTATION
    1. Research Objectives
    2. Market Definition
    3. Limitations & Assumptions
    4. Market Scope & Segmentation
    5. Currency & Pricing Considered
  3. MARKET OPPORTUNITY ASSESSMENT
    1. Emerging Regions / Countries
    2. Emerging Companies
    3. Emerging Applications / End Use
    4. Investment Landscape
    5. New Business Models / Revenue Streams
    6. TAM
  4. MARKET TRENDS
    1. Drivers
    2. Market Warning Factors
    3. Latest Macro Economic Indicators
    4. Geopolitical Impact
    5. Human Factors
    6. Technology Factors
  5. MARKET ASSESSMENT
    1. Porters Five Forces Analysis
    2. Value Chain Analysis
    3. Raw Material Analysis
    4. Sales And Distribution Channel Analysis
    5. Trade Analysis
    6. M & A Agreements & Collabration Analysis
    7. Export Import Analysis
    8. Cost Structure Analysis
  6. ESG TRENDS
  7. GLOBAL ALCOHOLIC BEVERAGES MARKET SIZE ANALYSIS
    1. Global Alcoholic Beverages Market Introduction
    2. By Distribution Channel
      1. Introduction
        1. Distribution Channel By Value
      2. Supermarkets
        1. By Value
      3. Liquor Stores
        1. By Value
      4. Convenience Stores
        1. By Value
      5. On-Premises
        1. By Value
      6. Grocery Stores
        1. By Value
      7. Online Retail
        1. By Value
    3. By Type
      1. Introduction
        1. Type By Value
      2. Distilled Spirits
        1. By Value
      3. Beer
        1. By Value
      4. Champagne
        1. By Value
      5. Wine
        1. By Value
      6. Other
        1. By Value
  8. NORTH AMERICA MARKET ANALYSIS
    1. Introduction
    2. By Distribution Channel
      1. Introduction
        1. Distribution Channel By Value
      2. Supermarkets
        1. By Value
      3. Liquor Stores
        1. By Value
      4. Convenience Stores
        1. By Value
      5. On-Premises
        1. By Value
      6. Grocery Stores
        1. By Value
      7. Online Retail
        1. By Value
    3. By Type
      1. Introduction
        1. Type By Value
      2. Distilled Spirits
        1. By Value
      3. Beer
        1. By Value
      4. Champagne
        1. By Value
      5. Wine
        1. By Value
      6. Other
        1. By Value
    4. U.S.
      1. By Distribution Channel
        1. Introduction
          1. Distribution Channel By Value
        2. Supermarkets
          1. By Value
        3. Liquor Stores
          1. By Value
        4. Convenience Stores
          1. By Value
        5. On-Premises
          1. By Value
        6. Grocery Stores
          1. By Value
        7. Online Retail
          1. By Value
      2. By Type
        1. Introduction
          1. Type By Value
        2. Distilled Spirits
          1. By Value
        3. Beer
          1. By Value
        4. Champagne
          1. By Value
        5. Wine
          1. By Value
        6. Other
          1. By Value
    5. Canada
  9. EUROPE MARKET ANALYSIS
    1. Introduction
    2. By Distribution Channel
      1. Introduction
        1. Distribution Channel By Value
      2. Supermarkets
        1. By Value
      3. Liquor Stores
        1. By Value
      4. Convenience Stores
        1. By Value
      5. On-Premises
        1. By Value
      6. Grocery Stores
        1. By Value
      7. Online Retail
        1. By Value
    3. By Type
      1. Introduction
        1. Type By Value
      2. Distilled Spirits
        1. By Value
      3. Beer
        1. By Value
      4. Champagne
        1. By Value
      5. Wine
        1. By Value
      6. Other
        1. By Value
    4. U.K.
      1. By Distribution Channel
        1. Introduction
          1. Distribution Channel By Value
        2. Supermarkets
          1. By Value
        3. Liquor Stores
          1. By Value
        4. Convenience Stores
          1. By Value
        5. On-Premises
          1. By Value
        6. Grocery Stores
          1. By Value
        7. Online Retail
          1. By Value
      2. By Type
        1. Introduction
          1. Type By Value
        2. Distilled Spirits
          1. By Value
        3. Beer
          1. By Value
        4. Champagne
          1. By Value
        5. Wine
          1. By Value
        6. Other
          1. By Value
    5. Germany
    6. France
    7. Spain
    8. Italy
    9. Russia
    10. Nordic
    11. Benelux
    12. Rest Of Europe
  10. APAC MARKET ANALYSIS
    1. Introduction
    2. By Distribution Channel
      1. Introduction
        1. Distribution Channel By Value
      2. Supermarkets
        1. By Value
      3. Liquor Stores
        1. By Value
      4. Convenience Stores
        1. By Value
      5. On-Premises
        1. By Value
      6. Grocery Stores
        1. By Value
      7. Online Retail
        1. By Value
    3. By Type
      1. Introduction
        1. Type By Value
      2. Distilled Spirits
        1. By Value
      3. Beer
        1. By Value
      4. Champagne
        1. By Value
      5. Wine
        1. By Value
      6. Other
        1. By Value
    4. China
      1. By Distribution Channel
        1. Introduction
          1. Distribution Channel By Value
        2. Supermarkets
          1. By Value
        3. Liquor Stores
          1. By Value
        4. Convenience Stores
          1. By Value
        5. On-Premises
          1. By Value
        6. Grocery Stores
          1. By Value
        7. Online Retail
          1. By Value
      2. By Type
        1. Introduction
          1. Type By Value
        2. Distilled Spirits
          1. By Value
        3. Beer
          1. By Value
        4. Champagne
          1. By Value
        5. Wine
          1. By Value
        6. Other
          1. By Value
    5. Korea
    6. Japan
    7. India
    8. Australia
    9. Taiwan
    10. South East Asia
    11. Rest Of Asia-Pacific
  11. MIDDLE EAST AND AFRICA MARKET ANALYSIS
    1. Introduction
    2. By Distribution Channel
      1. Introduction
        1. Distribution Channel By Value
      2. Supermarkets
        1. By Value
      3. Liquor Stores
        1. By Value
      4. Convenience Stores
        1. By Value
      5. On-Premises
        1. By Value
      6. Grocery Stores
        1. By Value
      7. Online Retail
        1. By Value
    3. By Type
      1. Introduction
        1. Type By Value
      2. Distilled Spirits
        1. By Value
      3. Beer
        1. By Value
      4. Champagne
        1. By Value
      5. Wine
        1. By Value
      6. Other
        1. By Value
    4. UAE
      1. By Distribution Channel
        1. Introduction
          1. Distribution Channel By Value
        2. Supermarkets
          1. By Value
        3. Liquor Stores
          1. By Value
        4. Convenience Stores
          1. By Value
        5. On-Premises
          1. By Value
        6. Grocery Stores
          1. By Value
        7. Online Retail
          1. By Value
      2. By Type
        1. Introduction
          1. Type By Value
        2. Distilled Spirits
          1. By Value
        3. Beer
          1. By Value
        4. Champagne
          1. By Value
        5. Wine
          1. By Value
        6. Other
          1. By Value
    5. Turkey
    6. Saudi Arabia
    7. South Africa
    8. Egypt
    9. Nigeria
    10. Rest Of MEA
  12. LATAM MARKET ANALYSIS
    1. Introduction
    2. By Distribution Channel
      1. Introduction
        1. Distribution Channel By Value
      2. Supermarkets
        1. By Value
      3. Liquor Stores
        1. By Value
      4. Convenience Stores
        1. By Value
      5. On-Premises
        1. By Value
      6. Grocery Stores
        1. By Value
      7. Online Retail
        1. By Value
    3. By Type
      1. Introduction
        1. Type By Value
      2. Distilled Spirits
        1. By Value
      3. Beer
        1. By Value
      4. Champagne
        1. By Value
      5. Wine
        1. By Value
      6. Other
        1. By Value
    4. Brazil
      1. By Distribution Channel
        1. Introduction
          1. Distribution Channel By Value
        2. Supermarkets
          1. By Value
        3. Liquor Stores
          1. By Value
        4. Convenience Stores
          1. By Value
        5. On-Premises
          1. By Value
        6. Grocery Stores
          1. By Value
        7. Online Retail
          1. By Value
      2. By Type
        1. Introduction
          1. Type By Value
        2. Distilled Spirits
          1. By Value
        3. Beer
          1. By Value
        4. Champagne
          1. By Value
        5. Wine
          1. By Value
        6. Other
          1. By Value
    5. Mexico
    6. Argentina
    7. Chile
    8. Colombia
    9. Rest Of LATAM
  13. COMPETITIVE ASSESSMENT
    1. Adoption Matrix
    2. Alcoholic Beverages Market Share By Manufacturers
    3. Alcoholic Beverages Market Ranking By Revenue For Manufacturers
    4. Average Price By Manufacturers
    5. Vendor Footprint Analysis
  14. MARKET PLAYERS ASSESSMENT
    1. Asahi Group Holdings Ltd.
      1. Overview
      2. Business Information
      3. Revenue
      4. ASP
      5. Gross Margin
      6. Swot Analysis
      7. Recent Developmments
    2. United Breweries Limited
    3. Bundaberg Brewed Drinks Pty Ltd
    4. Halewood International Holdings Plc
    5. Bacardi Limited
    6. Heineken Holding N.V.
    7. The Boston Beer Company Inc.
    8. Pernod Ricard SA
    9. Carlsberg A/S
    10. Suntory Holdings Ltd.
    11. Constellation Brands Inc.
    12. Brown-Forman Corporation
    13. Craft Brew Alliance Inc.
    14. Anheuser-Busch InBev SA/NV
    15. Diageo Plc.
    16. Molson Coors Brewing Co.
    17. The Wine Group LLC
    18. DGB Pty Ltd
    19. Accolade Wines Holdings Australia Pty Limited
    20. Bronco Wine Company
  15. RESEARCH METHODOLOGY
    1. Research Data
      1. Secondary Data
        1. Major Secondary Sources
        2. Key Data From Secondary Sources
      2. Primary Data
        1. Key Data From Primary Sources
        2. Breakdown Of Primaries
      3. Secondary And Primary Research
        1. Key Industry Insights
    2. Market Size Estimation
      1. Bottom-Up Approach
      2. Top-Down Approach
      3. Market Projection
    3. Research Assumptions
      1. Assumptions
    4. Limitations
    5. Risk Assessment
  16. APPENDIX
    1. Discussion Guide
    2. Customization Options
    3. Related Reports
  17. DISCLAIMER


Table of Content and Figure @ https://straitsresearch.com/report/alcoholic-beverages-market/toc


Market News

  • In June 2022, Asahi Group Holdings, Ltd. announced through a joint venture company, Asahi Breweries, Ltd., the company that handles the Group's alcohol beverages business in Japan, that it would launch the Shibuya Smart Drinking Project on June 29th. Asahi Breweries has been advocating "Smart Drinking,” which promotes diversity in drinking.
  • In February 2022, Danish brewer Carlsberg announced that it would look for growth beyond its core product which is beer, and develop beverages that consumers are looking for, like cider, hard lemonade, and hard seltzers.
  • In August 2021, Boston Beer and PepsiCo teamed up to create an alcoholic version of Mountain Dew. Boston Beer developed and produced the drink called Hard Mountain Dew, while Pepsi has created a new entity to sell, deliver and market the product. The beverage hit shelves in early 2022.


News Media

Global Industrial alcohols Market Worth USD 315.84 billion by 2030 at a CAGR of 8.23%.

Surge in Young-Adult Demographics to Escalate the Global Alcoholic Beverages Market Growth

Global Craft Spirits Market Grows at a Staggering CAGR of 10.61%


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