Press release
Alcoholic Beverages Market Share Analysis, Trends, Growth and Forecast - 2023-2030
Alcoholic Beverages Market - DataM Intelligence
The Global Alcoholic Beverages Market reached USD 2,125.2 billion in 2022 and is projected to witness lucrative growth by reaching up to USD 4,297.1 billion by 2030. The market is growing at a CAGR of 9.2% during the forecast period 2023-2030.
Alcoholic beverages, containing ethanol as the main psychoactive ingredient, serve various purposes such as relaxation, socializing, celebration, and cultural traditions.
The market has experienced growth due to consumers seeking higher-quality and premium options, leading to the popularity of craft beer, small-batch spirits, and boutique wineries.
This trend reflects a preference for authenticity, unique flavors, and local production.
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Market Growth:
Increase in Young Adults' Alcohol Intake:
Cultural shifts in social norms among young adults contribute to increased alcohol consumption.
Desire for social experiences and fitting in with peers drive young adults to consume alcohol more frequently.
Industry Analysis:
Widespread Consumption of Beer:
In 2022, the beer segment dominated the market with the highest revenue share.
Worldwide beer consumption in 2021 reached about 185.60 million kiloliters, indicating a 4.0% increase from the previous year.
Beer's popularity stems from its wide consumption, cultural significance, and affordability.
Major Players:
E & J Gallo
William Grant & Sons
Boston Beer
Miller Coors
Diageo
Treasury Wine Estates
Jose Cuervo
Constellation Brands
Beam-Suntory
Mast-Jaegermeister
Trending Topics
Beer Market (https://www.datamintelligence.com/research-report/beer-market)
Energy Drinks Market (https://www.datamintelligence.com/research-report/energy-drinks-market)
Functional Beverages Market (https://www.datamintelligence.com/research-report/functional-beverages-market)
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