Alcoholic Beverages Market revenue to reach at USD 1,696.7 Billion by 2030 with growing CAGR at 4.3% within the forecast period.

The Global Alcoholic Beverages Market size was valued at USD 1,387.86 billion in 2021 and is expected to reach USD 1,696.7 Billion at a compound annual growth rate (CAGR) of 4.3% in the forecast period

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An alcoholic beverage is an odorless liquid obtained through the fermentation of a sugar-containing liquid. A potable (meaning drinkable) liquid containing ethyl alcohol or ethanol of 0.5 percent or more by volume is termed as an 'alcoholic beverage'. Alcohol is a mobile, volatile fluid obtained by fermenting a liquid containing sugar. Alcoholic beverages are prepared by the using fermentation process & distillation process. It includes beverages like beer, wine, whisky, rum, brandy, gin, vodka, tequila, and others.The growing young population, a rise in consumer demand for premium quality brands, and changing lifestyles are the key driving factors for the alcoholic beverages market. According to the United Nations Department of Economic and Social Affairs, there was 1.2 billion youth aged 15-24 years globally in 2015, accounting for one out of every six people worldwide. The number of young people is anticipated to increase by 7%, reaching roughly 1.3 billion by 2030.

Growing demand to procure value-added hard seltzer products at an affordable cost is the upcoming opportunity for the market. However, the negative health effects of excessive alcohol intake can hamper the growth of the market.

Regional Analysis of Alcoholic Beverages Market:
• North America dominates the alcoholic beverage market and accounted for a market share of about 32.87% in the year 2021. This is due to the rising demand for classic brands of alcoholic beverages, increasing sales, and the increasing popularity of polished malt scotch whiskey. For instance, according to data published by the Government of Canada, In 2019, the combined retail sales of alcoholic beverages in Canada and the United States were valued at US$309.1 billion.

• Following North America, Asia Pacific held the second largest market share in the year 2021 and is expected to grow with a significant growth rate in the forecast period. This is due to the growing young population, increasing per capita income, and changing lifestyle. Increasing income drives the demand for quality alcoholic beverages in growing economies like India, China, and others. According to the data published by New Zealand Trade & Enterprise, the alcoholic drinks markets in Vietnam and the Philippines continue to grow. In addition to that, the spirits category in Asia continues to be dominated by locally-produced spirits, especially in China, South Korea, Japan, and Thailand.

Top players involved in the Alcoholic Beverages market:
• Anheuser-Busch InBev SA/NV
• MillerCoors (Molson Coors Brewing Company)
• Carlsberg Breweries A/S
• Diageo plc
• Bacardi & Company Limited
• Heineken Holding Nv
• Constellation Brands
• Beam Suntory Inc.
• Tsingtao Brewery Company Limited
• Beijing Yanjing Brewery Co. Ltd.
• Kirin Holdings Company, Limited, etc.
• Molson Coors Beverage Company
• Pernod Ricard SA
• United Spirits Ltd.
• Asahi Breweries Ltd.
• PABST
• E. & J. Gallo Winery
• Others

Current Trends of Manufacturers:
• Carlsberg Group strengthened its market position in Canada through the proposed acquisition of Waterloo Brewing (December 2022)
The Carlsberg Group has announced that it has entered into a definitive agreement with Waterloo Brewing Ltd. to acquire all the issued and outstanding common shares of Waterloo Brewing for cash consideration of CAD 4.00 per share or a total equity value of approximately CAD 144 million in aggregate (including options). The acquisition is expected to strengthen the Carlsberg Group's market position in Canada with local production and Waterloo Brewing's brands, and to deliver significant supply chain and revenue synergies.

• Molson Coors invested $60 million in its Canadian breweries' capacity to produce a variety of malt and spirits-based beverages (December 2022)
Molson Coors announced that two of its biggest facilities in Canada, the Toronto and Fraser Valley Breweries, will officially begin production of malt and spirits-based beverages destined for the Western and Central Canada markets. The improvements coincide with the continued national expansion of Molson Coors' hard seltzer line, and the investment shows the company's dedication to world-class brewing capabilities.

• Diageo acquired Texas super-premium whisky distiller, Balcones Distilling (November 2022)
Diageo announced that it has acquired Balcones Distilling, a Texas craft distiller and one of the leading producers of American Single Malt Whisky in the United States.

• Constellation Brands Entered into an Agreement with The Coca-Cola Company to Bring the Fresca Brand into Beverage Alcohol (June 2022)
Constellation Brands, Inc. an alcohol beverage company, announced that it has entered into a brand authorization agreement with The Coca-Cola Company in the United States to bring the FRESCA brand into beverage alcohol through the manufacturing, marketing, distribution, and launch of FRESCA Mixed - new, distinctive line of spirit-based, ready-to-drink cocktails that are well-aligned to a number of emerging consumer trends.

• Diageo announced a plan for a €200 million investment in Ireland's first purpose-built carbon-neutral brewery in Kildare (July 2022)
Diageo announced a plan to invest €200 million in Ireland's first purpose-built carbon-neutral brewery on a greenfield site in Littleconnell, Newbridge, Co. Kildare. The new facility will brew lagers and ales including Rockshore, Harp, Hop House 13, Smithwick's, Kilkenny, and Carlsberg.

• Anheuser-Busch InBev has caved to demand for a Corona sparkling alcoholic water extension (May 2022)
Anheuser-Busch InBev has announced its first global non-beer extension from the Corona brand. Corona Tropical is a 4.5% abv sparkling alcoholic water made with fruit juice and containing less than 100 calories per 33cl can. The line's launch kicks off in the UK with three flavours - Raspberry & Lemon, Grapefruit & Lemongrass, and Guava & Lime.

• AB InBev invested in RTD cocktail firm Canteen Spirits. (May 2021)
AB InBev has announced an investment in ready-to-drink cocktail company Canteen Spirits, as well as a new distribution partnership. The cocktail company received an undisclosed investment from ZX Ventures - the global investment and innovation group of AB InBev; while its distribution deal was signed with Anheuser-Busch. It is a vodka-based canned cocktail in seven vodka flavours including black cherry, watermelon, pineapple, lime, and cucumber mint - and Cantina, a new tequila-based cocktail that launched earlier this month in three flavours: Watermelon Margarita, Ranch Water, and Grapefruit Paloma.

• Sula Vineyards launched canned wine (February 2020)
Sula Vineyards has launched canned wine. The Indian winemaker has introduced its eight-year-old brand, Dia Sparkler, in a 330 ml can. The company will sell both of Dia's red and white wines in cans, giving the beverage a casual and youthful twist.

• Tsingtao unveiled the new high-end product series of Amber Lager (July 2020)
Tsingtao Beer Co Ltd unveiled the Centennial Journey Amber Lager series products, the company's latest effort to explore the high-end market and meet the upgraded consumer demand. The product is made from barley, four malt breeds selected from thousands of combinations, hops used by European royals, and the yeast that Tsingtao's German founder brought to China a century ago.

• Bacardi Acquired Pioneering Pre-Batched Cocktail Company (November 2020)
Bacardi Limited, a spirits company, announced that it has acquired 100% ownership of premium crafted and batched cocktail company TAILS. TAILS has pioneered a hassle-free approach to serving premium quality cocktails in bars, restaurants, and throughout the hospitality and events industry

Segment Analysis:

• Based On The Type Of Alcoholic Beverages, the market is segmented into wine, beer, spirit, liqueurs, and cocktails. Beer accounted for the largest market share in 2021, owing to the increasing demand and presence of varieties such as ale, lager, German-style altbier, and the ordinary bitter special type of beer. Further, the wine segment accounted for the second-largest market share in 2021. This is due to its health benefits. According to, the National Library of Medicine, wine consumption may prevent various chronic diseases, due to the presence of important antioxidants in red wine. Red wine contains antioxidants such as polyphenols, especially resveratrol, anthocyanins, and catechins.

• Further, based on flavors, the market is segmented into flavored and Unflavored alcoholic beverages. The Unfavored segment accounted for the largest market share in 2021, due to the preference of the consumers for these beverages. The unflavored beverages have their own specific flavors. On the other hand, flavored alcoholic beverages are expected to grow at a significant growth rate.

• On The Basis Of Packaging Material Used For Alcoholic Beverages, the market is segmented into glass bottles, cans, plastic bottles, and others. The OTR (Oxygen Transmission Rate) and WVTR (Water Vapour Transmission Rate) of glass bottles are less than the PET and other packaging options. During the packaging of alcoholic beverages, these parameters are considered important packaging determinants. Further, cans held the second largest market share following to glass bottles

Related Report:
Global White Wine Market - https://www.cognitivemarketresearch.com/white-wine-market-report
Global Fruit Beers Market - https://www.cognitivemarketresearch.com/fruit-beers-market-report
Global Fruit Beverages Market - https://www.cognitivemarketresearch.com/fruit-beverages-market-report
Global Sweeteners Market - https://www.cognitivemarketresearch.com/sweeteners-market-report
Global Spirit Market - https://www.cognitivemarketresearch.com/spirits-market-report
Global Plant Based Beverage - https://www.cognitivemarketresearch.com/plant-based-beverage-market-report

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