Alcoholic Beverages Market is expected to reach USD 1,759 Billion by 2027 with an exponential 2.2?GR during the forecast period (2020-2027)

Alcoholic Beverages Market is predicted to reach at USD 1,759 Billion by 2027 at a CAGR of 2.2% over the forecast period. The GMI Research study highlights that the market will experience a remarkable growth during the forecast period due to the high penetration of alcoholic beverages. The increasing innovative alternatives like honey-based beverages in the market will attract many health-conscious consumers, which will surge the alcoholic beverages market size.  

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Introduction of the Alcoholic Beverages Market  

Alcoholic drink comprises ethanol, a kind of alcohol made by the fermentation of fruits, grains, and other sources of sugar. The alcoholic drinks made by the fermentation process are beer, wine, and spirits, resulting from yeast digestion of the sugars found in the raw materials used. Beer contains rice, hops, malt, and corn and, it is a popular member of alcoholic beverages. 

Key Players of the Market

• Accolade Wines
• Asahi Group Holding Ltd.
• Brown-Forman
• Carlsberg Breweries A/S
• China Resources Beer (Holdings) Company Limited
• Remy Cointreau
• Tsingtao Brewery Co Ltd.
• Treasury Wine Estates
• Thai Beverage Public Co., Ltd.
• The Wine Group

Alcoholic Beverages Market Dynamics 

The global Alcoholic Beverages market is anticipated to undergo a sharp growth during the forecast period attributed to the robust demand for alcoholic beverages, particularly among the millennials, coupled with the increasing consumer demand for premium/super-premium products globally. To capture the different demands of the target audience, the leading producers of alcoholic beverages are principally focusing on launching new innovative products. Additionally, the development of alternative products, like introducing honey-based beverages, will bring health-conscious consumers. Alcoholic beverages market analysis shows that the attracting packaging of beverages in separate containers and sizes will directly surge the demand for alcoholic beverages over the coming years. For instance, multiple manufacturers have launched canned alcohol for those consumers searching for a convenient beverage option. 

Consumers are now more emphasized on quality instead of prices, which propels the demand for premium alcoholic beverages and increases the alcoholic beverages market share in the market. On the other edge, the outbreak of the COVID-19 pandemic has negatively impacted the sales of alcoholic beverages. Due to strict lockdown, the bars, liquor shops, and restaurants are temporarily closed, which drops alcohol sales across the globe. However, the market is expected to bounce back in 2021 while increasing significantly from 2022 onwards. 

Alcoholic Beverages Market Segmentation 

Type Market Drivers 

Based on the type, the distilled spirits segment is expected to lead the market during the forecast period due to the growing usage of premium/super-premium whiskey driven by the significant shift in the consumer’s preference from beer to distilled spirits like vodka, rums, whiskey, and other types of distilled spirit beverages. 

Distribution Channel Market Drivers 

Based on the distribution channel, the supermarket is projected to rise at a faster CAGR over the forecast period attributed to the increasing number of supermarkets due to rapid urbanization in various emerging countries. Additionally, the supermarkets provide varieties of products with reasonable prices, encouraging consumers to prefer supermarkets for their grocery shopping. Various supermarkets offer an alluring assortment of alcoholic beverages and high visibility to attract a more customer base. All these factors are directly boosting the segment demand in the market during the forecast period. 

Geographical Drivers

Based on the region, North America is projected to dominate the market during the forecast period. It is due to the high demand for alcoholic beverages, especially amongst the young-adult generation in the North American region. On the other end, the Asia-Pacific region is expected to rise at a faster CAGR over the forecast period due to the increasing demand for such beverages in emerging countries like India and China. Moreover, the growing disposable income is indirectly surging the market demand in this region. 

Alcoholic Beverages Market Segmentation 

Market Segmentation by Type 

1. Beer

• Ale
• Lager
• Hybrid

2. Distilled Spirits

• Rum
• Whiskey
• Vodka
• Others

3. Wine

• Sparkling
• Fortified
• Others

4. Others

Market Segmentation by Distribution Channel 

• On-Premises
• Liquor Stores
• Grocery Shops
• Internet Retailing
• Supermarkets
• Convenience Stores

Market Segmentation by Region 

North America 

• US 
• Canada 

Europe 

• UK 
• Germany 
• France 
• Spain 
• Rest of Europe 

Asia-Pacific 

• China 
• India
• Japan 
• Rest of APAC 

RoW 

• Brazil 
• South 
• Saudi Arabia 
• UAE 
• Rest of World

Introduction of GMI Research 

GMI Research is a market research and consulting firm that provides market insights and intelligence across 12 major sectors, helping our clients make effective investment and business decisions. 

Tags: Alcoholic Beverages Market Share, Alcoholic Beverages Market Size, Global Alcoholic Beverages Market, Alcoholic Beverages Market Analysis