Pune, India, August 2019, MRFR Press Release/- Market Research Future has Published a Half-Cooked Research Report on the Global Alcoholic Beverages Market.
Market Overview
Alcohol is one kind of an odorless liquid that is obtained by the process of sugar fermentation. A number of different type of compounds are present in the alcohol. However, ethyl is said to be the food grade alcohol in most of the alcoholic beverages. The manufacturing of Ethanol or Ethyl alcohol is done through a natural process when the yeast transforms the sugar in cereals, fruit, and sugar-canes into alcohol.
The global alcoholic beverages market was analyzed by Market Research Future (MRFR) and it was projected that a notable CAGR will be attained by the market over the forecast period of 2018 to 2023. The valuation of the market was further stated to surpass its previous valuation with the revenue pool getting wider.
The global alcoholic beverages market is expected to be boosted by the rising per capita disposable income of the consumers in developed regions. Additionally, the rising purchasing power of the consumers in developing nation is considered to be a major driver of growth for alcoholic beverages. Moreover, the expanding youth population is forecasted to be another key factor for the booming growth of the global alcoholic beverages market over the forecast period.
Market Segmentation
The global alcoholic beverages market has been segmented in terms of type and distribution channel.
By type, the market comprises distilled spirits, beer, wine, and others. Add to this, beer is segmented further into lager, ale, and hybrid. While the distilled spirits segment is broken down into rum, vodka, whiskey, and others. Wine can also be segmented into fortified and sparkling. Among these types, the distilled spirits market segment is expected to retain its primal position over the review period.
By distribution channel, the market includes store based and non-store based distribution channels. The store-based segment includes convenience stores, supermarkets & hyper markets, retailers, and on-premises. The store-based segment is projected to hold the maximum portion of the global market during the forecast period.
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Regional Analysis
The global alcoholic beverages market is geographically distributed across the following key regions: Asia Pacific, North America, Europe, and the Rest of the World (RoW).
Europe is positioned to retain its dominance over the alcoholic beverages market during the forecast period. This can be attributed to the growing per capita disposable income of consumers and the favorable demographic conditions. Within Europe, Germany is said to garner the largest share of the market over the forecast period. Asia Pacific is predicted by MRFR to grow at a comparatively higher rate than other regions in the forthcoming years. Both China and India are lucrative markets boasting massive opportunities in the Asia Pacific region for the manufacturers of alcoholic beverages.
Competitive Landscape
The global alcoholic beverages market comprises a host of key players. This includes names like Accolade Wines (Australia), Constellation Brands (U.S.), Anheuser Busch InBev (Belgium), Beam-Suntory (U.S.), Beam-Suntory (U.S.), Diageo PLC (U.K.), Carlsberg Group (Denmark), and others.
The alcoholic beverages industry is dominated primarily by a few major players and the competition between them is intense. In order to gain a major portion of the market share, companies are laying their focus on strengthening their existing portfolio, product diversification, and also concentrating on their expansion geographically. Additionally, companies are focusing increasingly on growing their consumer base with the help of social media channels. It was reported that more than 70% of the market players are set to increase their budgets for digital marketing in the coming years to capture a major portion of the global market. Social media comprise a huge youth population, one who can be targeted in their product campaigns to increase their offline sales.