Global Alcoholic Beverages Market Will Grow Over USD 1629 Billion By 2024: Zion Market Research
August 10, 2018 --
According to the report, the global alcoholic beverages market was valued at around USD 1263.19 billion in 2017 and is expected to reach approximately USD 1629 billion by 2024, growing at a CAGR of around 3.7% between 2018 and 2024.
New York, NY, Aug. 10, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Alcoholic Beverages Market By Type (Wine, Beer, and Spirit), By Packaging (Tin, Glass Bottles, and Plastic Bottles), By Sales Channel (Hotels/Bars/Restaurants and Online Retailers, Specialty Stores, and Convenience Stores): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024”. According to the report, the global alcoholic beverages market was valued at around USD 1263.19 billion in 2017 and is expected to reach approximately USD 1629 billion by 2024, growing at a CAGR of around 3.7% between 2018 and 2024.
An alcoholic beverage is a liquor generated through fermentation of sugar and yeast. Ethanol is the most common alcohol found in different alcoholic beverages such as wine, beer, and whiskey. Ethanol is usually obtained by the fermentation of various plants such as wheat, corn, barley, etc. These plants are rich sources of carbohydrates. Ethanol does not contain essential nutrients, but it provides great energy. Alcoholic beverages can be produced in two forms such as distilled and undistilled. The most common types of distilled alcohols are vodka and whiskey. There are many different recipes practiced worldwide for producing alcoholic beverages.
Browse through 173 Tables & 27 Figures spread over 110 Pages and in-depth TOC on “Global Alcoholic Beverages Market: Industry Size, Share, Trends, Growth, Analysis and Forecast, 2017 – 2024”.
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The alcoholic beverages market is projected to exhibit substantial growth during the forecast period. The growth of the alcoholic beverages market is primarily driven by growing population, increasing disposable income, and new product launches by the alcoholic beverage manufacturers. Moreover, busy lifestyles and changing consumer spending patterns are increasing the demand for alcoholic beverages in developed countries. This, in turn, is anticipated to fuel the growth of the global alcoholic beverages market over the forecast period. The growing urban population in emerging countries such as China and India coupled with increased spending on outdoor parties and celebration are the primary factors projected to fuel the growth of the alcoholic beverages market during the forecast period.
Based on product type, the market is classified into beer, wine, and spirit. Beer is usually produced from barley. The beer segment accounted for the dominant market share in 2017, in term of volume. The wine segment is anticipated to exhibit rapid growth over the forecast period owing to its increasing popularity and advancements in the wine production. Based on the packaging, the market is classified into tins, glass bottles, and plastic bottles. Glass packaging segment accounted for the significant market share in 2017, in terms of revenue. Since glasses are recyclable, the majority of beverage manufacturers use glass bottles for packaging.
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However, the small and medium scale manufacturers are adopting alternative material such as plastic and aluminum for beverage packaging. Based on the sales channel, the market is classified into hotels/bars/restaurants, online retailers, specialty stores, and convenience stores. Specialty stores and convenience stores are the dominant sales channels through well organized and widespread network in the emerging and developed countries.
North America is presently the most dominant region in the global alcoholic beverage market with a significant market share in terms of revenue. Key factors such as busy lifestyles, increasing consumer preference for premium and flavored alcoholic beverages, and rapidly evolving alcohol manufacturing technologies are driving the growth of the North America alcoholic beverages market.
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North America was followed by the Asia Pacific. The emerging countries such as China and India are anticipated to exhibit increased demand during the forecast period. Growing young population coupled with high disposable income are the key factors that are anticipated to boost the demand for alcoholic beverages in the Asia Pacific. Moreover, the growing trend of spending on outdoor parties and celebrations are fueling the Asia Pacific alcoholic beverages market.
Europe alcoholic beverages market is projected to witness substantial growth during the forecast period. This is primarily due to the growing beer consuming population. The UK, France, Germany, and Italy are the countries that hold a significant market share in the Europe alcoholic beverages market. The wine segment of the Europe alcoholic beverages market is projected to offer greater opportunities in the near future owing to the growing production of grapes in the region.
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Latin America alcoholic beverages market is projected to show significant growth over the forecast period. Growing middle-class population and expected economic improvements are the key factors that are driving the demand for the alcoholic beverages in the region. Argentina and Brazil are anticipated to account for the largest market share over the forecast period.
The principal players are focusing on new product development and acquisition strategies in order to produce innovative products and expand their business internationally. Some of the key players included in the global alcoholic beverages market report are Constellation Brands Inc., Bacardi Limited, Beam Suntory Inc., Anheuser-Busch InBev SA/NV, Molson Coors Brewing Co., Diageo Plc, Heineken Holding NV, Brown-Forman Corp., SABMiller Ltd., United Spirits Ltd., Asahi Breweries Ltd., Carlsberg A/S, China Resources Beer Company Limited, Treasury Wine Estates, Tsingtao Brewery Co. Ltd., Thai Beverage Public Co., Ltd., Rémy Cointreau SA, Accolade Wines Ltd., Pernod Ricard SA, and The Wine Group.
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This report segments the global alcoholic beverages market as follows:
Global Alcoholic Beverages Market: Type Segment Analysis
Global Alcoholic Beverages Market: Packaging Segment Analysis
- Glass Bottles
- Plastic Bottles
Global Alcoholic Beverages Market: Sales Channel Segment Analysis
- Online Retailers
- Specialty Stores
- Convenience Stores
Global Alcoholic Beverages Market: Regional Segment Analysis
- North America
- The U.S.
- Asia Pacific
- Latin America
- The Middle East and Africa
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