The global alcoholic beverages market was valued at $1,375 billion in 2015, and is expected to reach $1,594 billion by 2022, registering a CAGR of 2.1% from 2016 to 2022. Alcoholic beverages are consumed in all demographics of the world, and are based on the substrates which are locally available. For instance, sparkling and fortified wines are extracted from grapes, while beers from sorghum, maize, and other spirits prepared from various plants. The differences between the prices of alcoholic beverages are largely determined by two factors;-the costs of production and the duties levied on those costs. The production methods also play a crucial role in determining prices of premium/super premium spirits and wines.
The expansion of global young adult population, high disposable income, and demand for premium products drive the growth of the alcoholic beverages market. However, high cost of premium/super premium products, and growth in demand for non-alcoholic beverages owing to health issues has the potential to restrict the market growth in future.
The global alcoholic beverages market is segmented based on type, distribution channel, and geography. The type segment is classified into beer, distilled spirits, wine, and others. Beer is further segmented into Ale, Lager, and Hybrid, whereas distilled spirits include Rum, Whiskey, Vodka, and others. The wine segment includes sparkling and fortified. Based on distribution channel, the market is divided into convenience stores, on premises, retailers, and supermarkets. By geography, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
In 2015, Asia-Pacific occupied the largest market share, followed by North America, due to major growth in the disposable income and large alcohol-consuming demographic. Asia-Pacific is expected to dominate the global market by 2022, witnessing substantial growth in widely populated countries such as, China, India, and Japan.
The prominent players in the global alcoholic beverages market have strategically focused on product launches as their key strategy to gain significant market share.
The key players profiled in the report are as follows:
KEY BENEFITS FOR STAKEHOLDERS
Alcoholic Beverages Market Key Segments:
By Distribution channel
*Other players in the value chain include
*Profiles of these players are not included in the report, but can be included on request.
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