The
global alcoholic beverages market has been witnessing consistent
growth over the years, despite fluctuating economic conditions around
the world. Transparency Market Research, in a report titled
“Alcoholic Beverage Market - Global Industry Analysis, Size, Share,
Growth, Trends, and Forecast 2015–2021”, notes that sales are
likely to remain steady in the coming years as well. The growing
economic prosperity in developing countries, strengthening
distribution channels and purchase channels, and evolving consumer
lifestyles are responsible for the expansion of the alcoholic
beverages market.
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The
key product categories of alcoholic beverages are beer, wine, and
spirits, which include vodka, whiskey, and rum. Beer is by far the
most commonly consumed alcoholic beverage, driven mainly by
aggressive advertising and marketing activities and constant
improvement in quality. TMR finds that the top six beer makers
account for over half the global market for alcoholic beverages,
hinting at the considerable growth of this product segment.
On
the basis of geography, the report studies North America, Europe,
Asia Pacific and the Rest of the World as the key segments of the
global alcoholic beverages market. Although Europe and North America
are mature markets, they continue to be major revenue generators in
the market. However, companies are looking to invest in markets where
the unmet need is higher and where there is immense scope for growth.
Asia Pacific is one of the most lucrative markets in this respect,
owing mainly to the rising consumption of alcohol among the urban
youth in countries such as China and India. Eastern Europe and Africa
are also blossoming markets for alcoholic beverages thanks to a
steady pace of Westernization and an increase in the youth
population.
There
are several international and local players operating in the global
alcoholic beverages market, making it a highly competitive and
lucrative one. Product differentiation and competitive pricing are
two of the key strategies adopted by companies to stay on top and
garner a larger share of the consumer base. The launch of new
products to cater to the health-conscious consumer is a recent trend
noted in the alcoholic beverages market. Heineken, Constellation
Brands, Bacardi, Treasury Wine Estates, Carlsberg, Accolade Wines,
Diageo, Beam Suntory, E. & J. Gallo Winery, Anheuser-Busch,
SABMiller, China Resource Enterprise, The Wine Group, Torres, and
Pernod Ricard are some of the more prominent names in the alcoholic
beverages market.
These
players are studied in depth, highlighting their strengths and
weaknesses in addition to the threats and opportunities in store. The
key strategies and collaborations in the recent past have been
evaluated to understand their impact on the performance of a company
and its financial standing. The latest product portfolio of a given
company has also been studied to offer readers a clear picture of the
competition in the alcoholic beverages market.
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