Market Research Future (MRFR) analysed the alcoholic beverage market 2020 for the study period till 2023. As per MRFR assessment, the alcoholic beverage market is likely to rise at a high growth rate to churn-up decent revenue by the end of the evaluation period. Covid-19 analysis of the alcoholic beverage industry is offered along with the report. Insights on the impact of the pandemic on the market’s growth dynamics are explained in the Covid-19 alcoholic beverage market analysis. The growing popularity of NTX technology for the production of alcoholic beverages can favor the market expansion.
The technology produce alcoholic beverage eliminating the risk of alcohol-induced liver damage, thus boosting consumer safety. Increase in this awareness among growing fitness conscious people can boost sales of alcoholic beverage is likely to cause the market to surge in the near future. Restaurants serving alcoholic beverage as go-to drinks are observed to increase. This is boosting consumer convenience, thus can improve the market impetus. The openness of certain societies towards consumption of alcoholic beverage that prior showed aversion towards the same can aid the market gain momentum. The availability of online purchase of alcoholic beverage can further support the market growth.
The key players profiled in Alcoholic Beverages Market are as Carlsberg Group (Denmark), Anheuser Busch InBev (Belgium), Beam-Suntory (U.S.), Accolade Wines (Australia), Heineken Holding NV (The Netherlands), and Constellation Brands (U.S.), Diageo PLC (U.K.) among others are some key players that are operating in the alcoholic beverages industry, listed by MRFR. Intensifying competition among existing enterprises and start-ups can work in favor of the alcoholic beverage market.
The segment evaluation of the global alcoholic beverages industry is analysed by packaging material, type, and distribution channel.
The type-based segments of the Alcoholic Beverages Market are fermented drinks and distilled drinks. The sub-segments of the fermented drinks are wine, and beer among others. The sub-segments of the distilled drinks are Rum, Gin, Brandy, and Vodka among Others. The growing consumption of distilled drinks as the awareness about their therapeutic benefits can induce growth to the market. The fermented segment is likely to churn decent revenue for the market.
The packaging material-based segments of the Alcoholic Beverages Market are Plastic, Glass, Metal Cans, and Paper or Carton among others. Introduction of modern packaging technology that can improve shelf life of contents and also, offer greater consumer convenience can accelerate the market.
The distribution channel-based segments of the alcoholic beverages industry are Food Service and Food Retail. The sub-segments of the food retail segment are Non-Store Based and Store Based. The online availability of alcoholic beverages is noted to boost their sales that can promote the market in the approaching years.
The regional progress of the alcoholic beverages industry is analysed across trends Europe, North America, and Asia Pacific, following the Rest of the World (ROW). In Europe, the Alcoholic Beverages Market is anticipated to dominate across the forecast period. Europe alcoholic beverage market rise can be attributed to the gradual escalation in the per capita disposable income, along with favorable demographic conditions. Germany can lead the regional market with a decent CAGR in the evaluation period. In Asia Pacific, the alcoholic beverage market is anticipated to witness a high growth rate that is likely to be headed by India. Countries of the APAC region is known to hold lucrative market opportunities that encourages alcoholic beverage manufacturers to expand their product portfolio and gain global foothold. This can prove to have long-term impact of the regional market.
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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