Alcoholic Beverages Market To Hit US$ 1,805.9 Billion by 2028

The latest report by IMARC Group, titled "Alcoholic Beverages Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", offers a comprehensive analysis of the industry, which comprises insights on the alcoholic beverages industry analysis. The report also includes competitor and regional analysis, and contemporary advancements in the market. the global alcoholic beverages market size reached US$ 1,537.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,805.9 Billion by 2028, exhibiting a growth rate (CAGR) of 2.94% during 2023-2028.

Alcoholic Beverages Market Growth and Demand:

The global alcoholic beverages market is driven by the influence of emerging economies. As disposable income increases in these markets, a corresponding rise in alcohol consumption is often observed, spurring market growth. Changing lifestyle patterns and cultural shifts towards social drinking have also contributed to an uptick in demand. Furthermore, innovations in product formulation and packaging are continuously reshaping consumer choices. For instance, the rise of craft beverages and organic options signals a market that is increasingly segmented, offering specialized products to cater to diverse consumer preferences. The role of e-commerce and direct-to-consumer channels has also heightened, particularly accentuated by behavioral shifts during the COVID-19 pandemic. Regulatory changes, such as modifications in tax regimes or alcohol sales policies, can either facilitate or hamper market performance.

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Competitive Landscape with Key Players:

• Anheuser-Busch InBev SA/NV
• MillerCoors (Molson Coors Brewing Company)
• Heineken Holdings N.V.
• Carlsberg Breweries A/S
• Diageo plc
• Bacardi & Company Limited
• Olvi Oyj
• Tsingtao Brewery Company Limited
• Beijing Yanjing Brewery Co. Ltd
• Kirin Holdings Company, Limited

Alcoholic Beverages Trends:

Alcoholic beverages constitute a diverse category of drinks that contain ethanol, a psychoactive substance. This sector encompasses a wide array of products ranging from beer, wine, and spirits to liqueurs and other specialty drinks. The production of alcoholic beverages is often a nuanced and meticulously regulated process, influenced by cultural preferences, historical factors, and traditional methods that vary from region to region. Over the years, the industry has evolved into a complex, global market with multinational companies, boutique producers, and local artisans all contributing to a rich portfolio of offerings.

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Key Market Segmentation:

Breakup by Category:

• Beer
• Wine

o Still Light Wine

o Sparkling Wine

• Spirits

o Baijiu
o Vodka
o Whiskey
o Rum
o Liqueurs
o Gin
o Tequila
o Others

Breakup by Alcoholic Content:

• High
• Medium
• Low

Breakup by Flavour:

• Unflavoured
• Flavoured

Breakup by Packaging Type:

• Glass Bottles
• Tins
• Plastic Bottles
• Others

Breakup by Distribution Channel:

• Supermarkets and Hypermarkets
• On-Trade
• Specialist Retailers
• Online
• Convenience Stores
• Others

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023- 2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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This release was published on openPR.