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Europe is reported to have highest number of population consuming beer. Alcoholic beverages market in this region is led by France, followed by Germany, Italy, UK, and others.
Alcoholic Beverages Market - Global Industry
Insights, Market Drivers, Outlook and Key Market
Players
Alcoholic beverages ‚Äčare distilled drink or liquor produced from fermentation of the
sugar obtained from fruits, berries, and grains. These beverages contain more than a
minimal amount of ethyl alcohol or ethanol. They are classified into three general
classes called beer, wine, and spirit. Increasing number of adult and young
population and high disposable income of the consumers are the major factors
driving growth of the market. Innovation in product due to high demand for alcoholic
beverages with changing taste and preferences is key factor for growth of this
industry. Advancement in the distribution channels such as availability of separate
counter for females, outlet on airports, online sales, and growing tourism sector are
some of the factors boosting growth of market.
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Consumption of alcoholic beverages in a limited quantity is associated with reduced
risk of cardiovascular diseases. Furthermore, consumption of red wine reduces the
risk of heart diseases and burns fat. Therefore, introduction of varieties among beer
and spirits is expected to create lucrative opportunity for growth of the alcoholic
beverages market.
Spirits hold highest share in the global market of alcoholic beverages. More than 45
percent of the total alcohol is consumed is in the form of spirits. Increasing demand
for premium and super premium whiskey is expected to fuel growth of alcoholic
beverage market.
According to World Health Organization (WHO), the alcoholic beverages are not only
marketed through the conventional broadcast media (such as radio and television),
but also by direct marketing technologies such as the internet and podcasts.
Furthermore, by featuring alcoholic drinks in the entertainment sector such as films
and songs, producers attracts the young population for consumption of alcohol.
Alcoholic beverages market outlookEurope is reported to have highest number of population consuming beer. Alcoholic
beverages market in this region is led by France, followed by Germany, Italy, UK,
and others. The high consumption rate of alcohol has also been recorded in the
economies such as Estonia, Belarus, and Lithuania in this region. According to the
World Bank Group, in 2015, Belarus consumed 17.1 liters per person per capita as
compared to world average of 6.3 liters per person per capita.
North America is gaining significant traction in alcoholic beverage market, owing to
increasing trend of alcohol consumption in young-adult people, which increases
demand for high-quality alcoholic beverages. According to National Institute on
Alcohol Abuse and Alcoholism (NIAAA), in 2015, around 6.2 percent of adult
population were reported to be consuming alcoholic beverages in the U.S
India and China are projected to witness high demand for alcoholic beverages over
the forecast period, owing to substantial growth in the disposable income, increasing
population, and inclination of young generation towards the western culture.
Availability of local spirits such as baijiu in China is propelling the growth of alcoholic
beverages in Asia Pacific region.
Alcoholic beverages market challengesHowever, changes in climatic condition leads to decrease in the yield of the crop,
thereby, increasing raw material prices. Furthermore, strict governmental regulations
is one of the major challenge in the growth of the alcohol industry. Availability of
substitute products and the legalization of marijuana especially in the U.S. is also
expected to hinder growth of this market.
Key Players in the Global Alcoholic Beverages Market
Major players are focused on strategies such as merger and acquisition to maintain
leading position in market. Innovations and new product development in the
manufacturing of flavored wine, vodka, beer, and cocktail such as wine based
cocktails, vintage cocktails, and exotic spirits are expected to drive growth of the
market.
Key players operating in the global alcoholic beverages market include
Anheuser-Busch InBev SA/NV, Bacardi Limited, Beam Suntory Inc., Constellation
Brands Inc., Diageo Plc, Heineken Holding NV, Molson Coors Brewing Co., Pernod
Ricard SA, SABMiller Ltd., and Carlsberg group.
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Author
apeksha motghare
apeksha motghare533   documents Email
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