Alcoholic beverage is an alcoholic drink that contains considerable amount of alcohol (formally known as ethanol) in it. The alcoholic beverage market across the globe is expected to witness a moderate growth during the forecast period. Rising demand for different types of alcoholic beverages across various emerging countries owing to their large consumer base coupled with increasing disposable income and growing consumption of alcohol by the population of various age groups supports the market growth. In order to provide detailed analysis of the market, the global alcoholic beverage market can be segmented on the basis of product type, distribution channel and geography. Based on product type, the market has been classified into beer, wine and spirits. On the other hand, depending on the point of sale, various distribution channels include super market and hyper market, specialist retailer and convenience store and others. Geographically, global alcoholic beverage market can be segmented into North America, Europe, Asia-Pacific, Middle-East and Africa (MEA) and Latin America.
Increasing urbanization in combination with growing disposable incomes of the middle class population owing to rapid economic development across the globe are the primary factors predicted to drive the demand of alcoholic beverages in the coming years. Moreover, owing to rising frequency of celebration coupled with increasing influence of the western culture, alcoholic beverage is becoming an integral part of celebration and parties. This, in turn, is predicted to trigger the demand of alcoholic beverage during the forecast period. On the other hand, increasing consumption of super premium and premium alcoholic beverages is also expected to fuel the growth of alcoholic beverages market, in terms of value. The demand for craft beer is predicted to witness a promising growth in the coming years. On the other hand, from the past few years the demand for flavored alcoholic beverages is showing a stable growth.
However, rising rate of taxation on alcoholic beverages is one of the major restraining factors predicted to deter the growth of alcoholic beverage market. Moreover, restriction on promotion and advertisement of alcoholic beverage is also anticipated to limit the growth of the market. The alcoholic beverages are available in variety of flavors in the market across the globe. Consumers who have newly become legally eligible for purchasing alcoholic beverage are considered as the most prospective buyers of different categories of alcoholic beverages. These customers are not taste or brand loyal, rather they want varieties in their drink options. Thus, they form an important market segment on the basis of their age.
Based on product type, beer dominated the alcoholic beverage market across various regions. Improvement in quality in line up with improvised advertising and marketing strategies adopted by the leading players in the market is the primary factor behind this segment’s dominance. In addition, increasing number of youth population and rising demand for craft beer is expected to propel the demand of beer during the forecast period. Across various regions, Europe held the largest market share in the alcoholic beverages market and is expected to maintain its dominance. Moreover, owing to rising consumption of alcoholic drinks in African countries, Middle-East and Africa (MEA) is predicted to witness a promising growth in coming years.
The global market for alcoholic beverages is highly competitive with the presence of large number of local and international vendors and is expected to experience increasing competition in the coming years in terms of product differentiation and pricing. Moreover, increasing health consciousness among the consumers has forced many manufacturers to launch new products into the market. Major players operating in the global alcoholic beverage market are Anheuser-Busch, Accolade Wines, Carlsberg, Heineken and SABMiller among others.