In 2017, the global market for alcoholic drinks was worth $1,439 billion. It is expected to grow at a rate of 2% from 2018 to 2025 to reach $1,684 billion in 2025. Traditional alcohol use is every day worldwide, but local alcoholic drinks make up most of the market. Only a few have reached the point where they can be made commercially. Many people all over the world buy and sell things like beer made from barley, wine made from grapes, and other alcohol. The prices of these drinks are affected by the costs of making them and the taxes charged on those costs. In terms of price elasticities, prices can have different effects in different countries and at different times.
More young people are drinking alcohol, more money to spend, and more demand for high-end and ultra-high-end alcohol. Premium and super-premium products, as well as more nonalcoholic drinks, are likely to slow down market growth shortly because people are more concerned about their health than they used to be. It looks like people can use honey-based products to make new alcoholic drinks. This could be a good option for people who want to make new drinks.
It breaks down the world’s alcoholic drinks market by type, distribution channel, and country. The market is broken down into different types of alcohol, like beer, distilled alcohol, wine, and more, based on what kind of alcohol it is. On the other hand, rum, whiskey, and vodka are some of the distilled spirits that you can find. As with wine, sparkling and fortified are two different types. You can buy things at convenience stores, on-premises booze stores, groceries at grocery stores, online, and supermarkets. North America, Europe, Asia-Pacific, Latin America, and the Caribbean are all separate parts of the world that make up the whole world group.
Dried spirits took up a third of the world market share in 2017. This group accounted for about 28% of the total market when it comes to volume. This was due to a rise in demand for premium and super-premium whiskey and a shift in consumer preference away from beer to distilled spirits like rum, whiskey, and vodka. As a result of its rapid growth and high-income contribution, this industry is expected to provide investors with stable demand and a good return on their money. Alcohol use in North America is expected to rise as young adults grow and the quality of alcoholic drinks improves. People who live in countries like China and India, on the other hand, are expected to drink a lot more alcohol during this period. There has been a rise in the amount of money people have that they can spend. Europe and Latin America (LAMEA) are expected to grow the fastest because there has been a rise in people who drink alcohol.
The fierce competition in the market has led big businesses to make agreements, launch new products, expand, and merge. Constellation Brands and Diageo Plc are two of the big companies mentioned in the research. Anheuser-Busch InBev SA/NV and Bacardi Limited are also mentioned in the study.
Advantages of the Alcoholic Beverage Market
- In this study, current and future trends and predictions and dynamics of the alcoholic beverages industry are examined in great detail.
- There has been a lot of research done on the size of the alcoholic drinks industry, and projections have been made for some of the main sectors between 2017 and 2025.
- The market’s drivers and stiflers are talked about in great detail.
- The research shows how many people use each product in each area.
- Profiles are written up for some of the most important companies in the alcoholic drinks business. Their strategies are studied in great detail to give a competitive view of the industry’s trends.