Press release
Projected Expansion and Key Trends Highlight Future of Drinking Places (Alcoholic Beverages) Market
Expectation of steady growth reflected by increase in market net worth from $158.92 billion in 2024 to $187.97 billion in 2029.
What Is The Projected Market Size Of The Global Drinking Places (Alcoholic Beverages) Market And Its Growth Rate?
• The Drinking Places (Alcoholic Beverages) market size was $158.92 billion in 2024, expected to grow to $162.4 billion in 2025 at a compound annual growth rate (CAGR) of 2.2%.
• The major contributors to growth in this sector include social and cultural trends, economic conditions, and disposable income, factors supported by the entertainment and leisure industry growth, licensing and regulatory environment, and tourism and hospitality trends.
• Significant expansion predicted for the Drinking Places (Alcoholic Beverages) market, as it is expected to reach $187.97 billion in 2029 with a compound annual growth rate (CAGR) of 3.7%.
• This forecasted growth takes into account changing consumer lifestyles, innovations in beverage offerings, focus on craft and local products, culinary and mixology trends, health, and wellness considerations.
What Is Driving The Growth In The Drinking Places (Alcoholic Beverages) Market?
The growth of the Drinking Places (Alcoholic Beverages) market is primarily driven by the increase in alcohol consumption, especially in social settings. These drinking places encourage safe alcohol consumption and social bonding, providing a positive environment for consumers. An example of this trend is the report by Statistics Canada, which states that retail establishments and liquor authorities reported alcoholic beverage sales totalling $26.1 billion in the fiscal year ending in March 2022. This marked an increase of 2.4% from the previous year. Therefore, increasing alcohol consumption plays a vital role in stimulating the growth of the Drinking Places (Alcoholic Beverages) market.
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Who Are the Key Players Driving Drinking Places (Alcoholic Beverages) Market Growth?
• Boadas Cocktails
• Kings Head Pub
• Attaboy Holdings Ltd.
• Floreria Atlantico
• Four Seasons Hotels Ltd.
• Hakkasan Group Ltd.
• J D Wetherspoon plc
• Licoreria Limantour
• Maybourne Hotel Group
• McKs Tavern Co.
• Mitchells and Butlers plc
• EIH Ltd.
• Public Call Office
• The Atlas Bar Inc.
• The Cats Eye Pub
• Trailer Happiness
• Anheuser-Busch InBev Sa/NV
• Diageo plc
• Constellation Brands Inc.
• Pernod Ricard SA
• Asahi Group Holdings Ltd.
• United Breweries Limited
• Halewood International Holdings plc
• Bacardi Limited
• Brown-Forman Corporation
• Carlsberg India Pvt. Ltd.
• China Resources Beer (Holdings) Company Limited
• Compañía Cervecerías Unidas S.A.
• Craft Brew Alliance Inc.
• Distell Group Limited
• Grupo Modelo S.A. de C.V.
• Kirin Holdings Company Limited
• Molson Coors Beverage Company
What Are The Key Trends In The Drinking Places (Alcoholic Beverages) Market?
Key trends affecting the Drinking Places (Alcoholic Beverages) market include:
• Events and entertainment programming
• Partnerships with local food providers
• Social media and influencer marketing
• Adaptation to changing consumer behavior
• Sustainability and eco-friendly practices.
What Are The Segments Of The Global Drinking Places (Alcoholic Beverages) Market?
• By Product: Beverages, Foods
• By Application: Men, Women
Which Region Leads The Drinking Places (Alcoholic Beverages) Market?
As of 2024, Europe was the largest region in the Drinking Places (Alcoholic Beverages) market. Other regions covered in this market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Drinking Places (Alcoholic Beverages) Market Global Market Report?
- Market Size Analysis: Analyze the Drinking Places (Alcoholic Beverages) Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Drinking Places (Alcoholic Beverages) Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Drinking Places (Alcoholic Beverages) Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Drinking Places (Alcoholic Beverages) Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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