The global alcoholic beverage market is growing at a significant CAGR during the forecast period. One of the major factors augmenting the alcoholic beverages market growth is gradually escalating demand for alcoholic beverages across the globe. Growing alcohol consumption in emerging as well as developed economies is fueling the market growth. According tothe National Survey on Drug Use and Health (NSDUH) in 2015, almost 85% of adults statedthat they have consumed alcohol at some point in their lifetime. Further, the report also states that more than 70% of adults in the US have consumed alcohol just a year before.
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The alcohol consumptionhaspenetrated the culture in developing countries among the people is other crucial driver for this industry’s growth.In the emerging economies such as Brazil and India, the improved distribution network of alcohol manufacturers and the enhanced purchasing capacity of the citizens are further augmenting the growth of the alcoholic beverages industry. According to the World Health Organization, in the latest European health report, most of the alcohol consumption is carried out in European Union that is significantly greater than any other part across the globe, the report estimates, people in the region consume 8.71 liters of pure alcohol per year. This has opened tremendous opportunities for market players in the European Union region.
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Moreover, emerging demand for premium alcoholic beverages is primarily attributing to the growth of the market. The adoption of distilled spirits, craft beer, and wine are being significantly driven by the rising demand for beverages with natural flavors. In addition, the high availability of distilled spirits with innovative natural flavors is leading to a significant range of options for consumers that allows consumers to opt for the alcoholic beverage of their choice and ultimately results in the growth of the market. Apart from product launches, the companies are acquiring premium alcoholic beverage products of other companies to increase their premium product portfolio. For instance, in June 2019, Brown-Forman Corporation declared a definitive agreement to acquire the 86 Company.
The key players operating global alcoholic beverages market include Anheuser-Busch InBev, Diageo, Carlsberg, Heineken, Pernod Ricard, Remy Cointreau, SABMiller, and Bacardi.For instance, in 2019, the Carlsberg group raised their stakes in Cambodia-based beverage company Cambrew,Ltd. the stakes raised from 25% to 75%. It is one of the most renowned companies in Cambodia, with this acquisition the company is aiming to strengthen its foothold in the Cambodian alcoholic beverage market. In 2016, Heineken, a Netherlands-based beer giant has announced that it has acquired a majority stake at PivovarnaLaško, which is a Slovenian beverage maker. The company’s primary objective was to overcome its competitor SABMiller in the region.
Global Alcoholic Beverages Market – Segment
By Type
- Beer
- Distilled Spirit
- Wine
By Packaging Type
- Glass Bottles
- Cans
- Others (Plastic Bottles)
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