Global
Alcoholic Beverages Market: Snapshot
The
global alcoholic beverages market has witnessed impressive growth
over the last couple of years driven by a number of favorable
factors. Growing urban population coupled with rising disposable
incomes in emerging economies is leading individuals to explore new
forms of entertainment such as night parties and spending time at
bars, lounges. Further, young adults with high family incomes, high
social media influence, and easy access to alcoholic drinks are other
prominent factors driving sales of alcoholic drinks.
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In
urban areas, high pressure jobs and the perception that consumption
of alcohol is relaxing to the mind is leading to the increased
consumption of alcoholic drinks.
Manufacturers
of alcoholic drinks that are continuously launching new products with
added flavors. Curiosity among consumers especially among millennials
is attracting them to try these products, which is having a positive
bearing on the alcoholic beverages market.
On
the down side, excessive consumption of alcohol which is adversely
affecting health, especially the health of young adults might
challenge the growth of alcoholic beverages market. As per a report
released by WHO in 2014, 3.3 million deaths each year across the
world are related to excessive consumption of alcohol.
According
to a report by Transparency Market Research, the global alcoholic
beverages market is likely to expand at a CAGR of 6.4% vis-à-vis
revenue between 2017 and 2025, for the market to become worth
US$1,977, 342.7 mn by the end of 2025. The global
alcoholic beverages market is estimated to be worth
US$1,205,359.1 mn by the end of 2017.
Beer
Product Type Segment Estimated to Hold Substantial Market Share
through Forecast Period
The
report studies the global alcoholic beverages market based on product
type, packaging type, sales channel, and geography. The key segments
of the global alcoholic beverages market based on product type are
beer, spirits, wine, and others. The beer segment, amongst all, is
estimated to represent 42.7% of the overall market by 2017 end.
Based
on packaging type, the global alcoholic beverages market is segmented
into glass bottles, plastic bottles, tins, and others. The key
segments of the market depending upon sales channel are modern trade,
specialty stores, convenience stores, commercial,
hotels/restaurants/bars, online retailers, and other retailing
formats. Of them, specialty stores segment is estimated to hold 27.4%
of the market by the end of 2017.
Changing
Lifestyles and Western Influence Catapult Asia Pacific Alcoholic
Beverages Market
In
this report, North America, Latin America, Europe, Asia Pacific, and
the Middle East and Africa are the segments that divide the alcoholic
beverages market based on geography. Of them, Asia Pacific is the
prominent region accounting for the leading share in the overall
market. This is mainly due to increasing urbanization and a growing
middle-class population with disposable incomes.
However,
amongst all, Latin America is expected to display the leading 5.4%
CAGR between 2017 and 2025. This is mainly because of rising
urbanization and increasing per capita income in this region.
Furthermore, changing lifestyles, influence of social media, and
increasing trend of entertainment at clubs, lounges is driving sales
of alcoholic beverages.
Key
players in the global alcoholic beverages market profiled in this
report are Carlsberg A/S, Diageo Plc., Suntory Holdings Ltd.,
Brown-Forman Corporation, Craft Brew Alliance Inc., Anheuser-Busch
InBev SA/NV, United Breweries Limited, Molson Coors Brewing Co.,
Accolade Wines Holdings Australia Pty Limited, The Wine Group LLC,
Heineken Holding N.V., Asahi Group Holdings Ltd., Halewood
International Holdings Plc, Bacardi Limited, Bundaberg Brewed Drinks
Pty Ltd, Constellation Brands Inc., The Boston Beer Company Inc.,
Pernod Ricard SA, DGB Pty Ltd., and Bronco Wine Company.
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