Alcoholic
beverages refer to beverages containing certain amount of alcohol.
Alcoholic beverages have gained popularity among the consumers
globally over the past few years. Significant rise in the global
population and increasing disposable income are some of the major
factors fueling the demand for alcoholic beverages globally.
The
global
alcoholic beverages market is expected to grow at a moderate pace
during the forecast period. The growth of this industry has increased
in the last few years due the good performance of all the sectors
(beer, spirits and wine). Germany, U.K., France, Italy and Spain
among others comprise of almost 57% of the global alcoholic beverage
market.
One
of the major drivers for the growth of this industry is that the
consumers residing in emerging countries have significant
contribution in the rise in the demand of the alcoholic beverage
market because of growing population. The concept of consuming
alcohol is also penetrating into the culture among the people
residing in the emerging countries. Another driving factor is the
strengthened distribution channels adopted by the alcoholic beverage
manufacturers and purchase channels adopted by them such as online
stores. In addition, increasing per capita income accompanied with
increasing disposable income is also expected to boost the demand for
alcoholic beverage globally.
However,
there are few restraints for the alcoholic beverage industry as well.
The major players are constantly competing among themselves to gain
the maximum market share. This poses as threat for the entry and
sustenance for any new player trying to operate in the alcoholic
beverage market. Other restraints for this market include the
increase in the price of raw materials, availability of substitutes
(non alcoholic beverages) and rules and regulations posed by the
government. Poor climatic conditions could also pose as a threat for
alcoholic beverage market.
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The
alcoholic beverage market is segmented into beer, wine and spirits.
Beer generates the maximum amount of revenue followed by spirits
(whiskey, vodka and rum) and then by wine (red and white). The top
six beer manufacturers have a global market share of over 50%. Each
of these manufacturers are forming alliances to gain a competitive
edge over others in developing countries such as India, China, Brazil
among others.
By
geography, the market has been segmented into North America, Europe,
Asia-Pacific and Rest of the World (RoW). North America and Europe
are considered as mature markets and due to this reason, the
concentration of the manufacturers is shifting away from these
regions. Asia Pacific is the fastest growing region for alcoholic
beverages market. Due to this region, the manufacturers are focusing
on penetrating the developing countries such as India, China among
others.
The
per capita consumption of alcoholic beverages is highest in Europe
where France is in the lead followed by Germany, Spain, Italy and UK.
The major players operating in this market are Diageo, Heineken,
Carlsberg, Anheuser Busch InBev, Pernord Ricard, Remy Cointreau,
Bacardi and SAB Miller. The large companies operating at an
international level are engaged in making heavy investments in
marketing and advertising strategies to ensure customer loyalty.
Branded drinks include approximately 40% of the global alcoholic
beverage consumption. The global alcoholic beverage industry is
dominated by three leading companies comprising of almost 40% of the
market share. Anheuser-Busch InBev is the market leader with 20% of
the market share.
The
growth of the global alcoholic beverage industry was moderate at
first but the growth has become high owing to the growing consumer
base for alcohol consumption, especially the young generation which
is fuelled by the increasing disposable income of the consumers. The
industry is expected to grow even further in the future.
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