Alcoholic Beverages Market Outlook

The emergence of promising new markets for alcoholic beverages provided new opportunities for the manufacturers, which supported the growth of the global market. Market Research Future, a firm that specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on Alcoholic Beverages Market is expected to register a CAGR of 8.43% during the forecast period, 2021- 2026.

The increasing legal purchasing age (LPA) of consumers from emerging economies is propelling the demand for alcoholic beverages. Approximately 2.3 billion people fall under LPA from emerging economies, wherein the Asia-Pacific region contains 60% of the world’s youth population. In addition, easy accessibility of the product in grocery and major retail stores has also supported the growth of the market. Dedicated space for liquors in grocery stores and other major retailers is a common practice in a developed nation such as the US, however, the trend is picking up in emerging economies.  Furthermore, the rise of the home-attainment (stay-at-home) trend in both developed and emerging economies has accelerated the demand for easy availability of liquors in retail stores.

Covid 19 Analysis

The outbreak of the COVID 19 pandemic has considerably impacted the alcoholic beverages market analysis and the players that operate in it. Due to stringent social distancing rules and guidelines, the production processes relating to alcohol production have considerably been affected. The closure of pubs and other alcohol-serving restaurants has also hampered the global market growth at the global level. However, the market is expected to recover and show solid performance during the forecasted period due to diverse favorable market factors. 

Top Market Key Vendors

Some of the most eminent market vendors profiled in the MRFR study are Keurig Dr. Pepper Inc. (US), Danone S.A. (France), Pressed Juicery LLC (US), Parle Agro Private Limited (India), FreshBev LLC (US), Jacobs Douwe Egberts B.V. (Netherland), Suja Life LLC (US), Red Bull GmbH (Austria), Suntory Beverage & Food Limited (Japan), Nestlé S.A. (Switzerland), The Kraft Heinz Company (US), The Coca-Cola Company (US), PepsiCo, Inc. (the US), Arizona Beverage Company (US), Unilever (UK), to name a few.

Regional Analysis

The global Alcoholic Beverages Market Analysis is segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). Among these, Europe is expected to retain its dominance throughout the forecast period. This is attributed to the increasing per capita disposable income coupled with the favorable demographic conditions. Within Europe, Germany is estimated to account for the largest market share during the forecast period. The Asia Pacific is projected to grow at a higher rate as compared to the other regions. Especially China and India are lucrative market opportunities in the Asia Pacific region for the alcoholic beverage manufacturers.

Segments Analysis

The global Alcoholic Beverages Market Analysis has been divided into type, packaging material, distribution channel, and region.

Based on Type: Fermented Drinks (Beer, Wine, and Others), Distilled Drinks (Gin, Rum, Vodka, Brandy, and Others)

Based on Packaging Material: Glass, Plastic, Paper/Carton, Metal Cans, and Others

Based on Distribution Channel: Food Retail (Store Based, Non-Store Based), and Food Service

Based on Region: North America, Europe, Asia Pacific, and ROW.

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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.

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