Alcopop Market Size was valued at USD 4.1 Billion in 2022. The Alcopop market industry is projected to grow from USD 4.37 Billion in 2023 to USD 6.81 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.80% during the forecast period (2023 - 2032). The increased demand for alcoholic beverages imparting unique and refreshing flavors are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The increased demand from the younger generation is driving the market CAGR for alcopop. Malt liquor has a pleasant flavor and canvas for other ingredients and flavors. Alcopops have a lower alcohol level, which is thought to be one of the primary reasons for attracting young people. They are designed primarily for young drinkers, known as 'entry-level' drinkers.
Furthermore, alcopops makers use appealing packaging materials to entice adolescents. Innovative marketing strategies are being used to enhance alcopops sales among teenagers. Apart from malt liquor consumption, alcopops are recognized as the favorite beverage among the youthful population. WKD is currently entering the market with a variety of new flavors. WKD Pink Gin is a refined blend of gin and raspberry flavors. Meanwhile, lemon and raspberry lemonade are among the new flavors added to the well-known range of summer drinks.
The ever-increasing consumer interest in health and wellbeing, as well as increased awareness of many negative health impacts associated with excessive alcohol intake, are primary drivers expected to drive the market's growth significantly throughout the forecast period. In recent years, the demand and penetration for better high-quality, low-alcohol drinks to maintain their health goals have prompted market players to create new products, contributing to market growth and demand.
Manufacturers' rising investments in low-alcohol beverages to improve taste, variety, and quality have boosted the sector. Various product improvements from manufacturers, such as low-calorie and fruit-flavored low-alcoholic beverages, have captured customers' interest. The increased consumer interest in health and wellbeing in recent years has been a major element driving the low-alcohol beverages market. The unfavorable health impacts of alcoholic beverage use, such as cardiovascular illnesses and high blood pressure, have also prompted customers to choose reduced alcohol beverage variants, boosting market expansion.Thus, driving the Alcopop market revenue.
The Alcopop market segmentation, based on base type includes beer, whiskey, rum, vodka and others. The rum segment dominated the market, accounting for 35% of market revenue. Rising demand for high-end goods is likely to propel the business globally. The increased desire among millennials in distinctive and genuine alcoholic beverages is projected to drive product sales even further. Rum is the most popular alcoholic beverages in the spirits category. Increased per capita income in both developed and developing economies is increasing demand for premium spirits. Rising demand for high-end goods is likely to propel the business globally. The increased desire among millennials in distinctive and genuine alcoholic beverages is projected to drive product sales even further.
The Alcopop market segmentation, based on packaging type includes bottles, cans and others. The bottles segment dominated the market. Factors such as increased per capita income, customer willingness to spend for premium brands, and the proliferation of places such as nightclubs, pubs, and bars are likely to drive market growth.
Figure 1: Alcopop Market, by Packaging Type, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The analysis gives market insights into North America, Europe, Asia-Pacific, and the Rest of the World by region. The North American Alcopop market area will dominate this market; the presence of numerous international producers, rising demand for premium rums, and a rise in the consumption of flavored and spiced rums in cocktails are factors driving market growth, as are rising packaging innovation and consumer demand for properties such as convenience, safety, technology, and sustainability.
Thus, the main countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: ALCOPOP MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Asia Pacific Alcopop market accounts for the second-largest market share Because of the large population, the increase in disposable income, and the growing popularity of rum among the younger generation due to rising consumer health consciousness and substantial client bases in nations such as India and China. Furthermore, since consumers want low-calorie, low-sugar, and healthier beverages, beverage manufacturers in the region are offering zero and low-alcohol beverages. Further, the China Alcopop market held the largest market share, and the India Alcopop market was the fastest-growing market in the Asia Pacific region.
The European Alcopop Market is expected to grow fastest from 2023 to 2032. Customers want alternatives to typical alcoholic beverages. Consumers are seeking ways to reduce their alcohol use, which has increased demand for low-ABV beer in the market and has benefited the regional industry in recent years. Moreover, the Germany Alcopop market held the largest market share, and the UK Alcopop market was the fastest-growing market in Europe.
Leading industry companies are making significant R&D investments to diversify their product offerings, which will drive the Alcopop market's expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants also engage in several strategic actions to increase their worldwide presence. The Alcopop industry needs to provide reasonably priced goods to grow and thrive in an increasingly competitive and challenging market environment.
Local production to minimize operating costs is one of the key business tactics manufacturers use in the Alcopop industry to support clients and increase the market sector. The Alcopop industry has recently provided some of the most significant benefits. Major players in the Alcopop market, including Asahi Group Holdings, Ltd and others, are attempting to increase market demand by investing in research and development operations.
Asahi Group Holdings, Ltd. and its subsidiaries produce and distribute alcoholic beverages, soft drinks, and food products in Japan and worldwide. It operates in the following segments: Alcohol Beverages, Soft Drinks, Food, Overseas, and Others. The company sells imported beers, non-alcohol beer taste beverages, wines, shochu and whisky products, ready-to-drink beverages, happoshu products and spirits. It also sells soft drinks such as cider, carbonated soda water beverages, coffee, tea, lactic acid drinks, mineral waters, sports drinks, and fruit juices.
Diageo plc is a British alcoholic beverage business headquartered in London, England. It operates from 132 locations worldwide. It is a significant distributor of Scotch whisky and other alcoholic beverages. Its portfolio is extraordinary in its breadth, with over 200 brands marketed in 180 countries. They're building the best brands out there, from centuries-old names to exciting new entrants, giants to local legends, and they're a truly organization with over 25,000 talented employees based in over 135 countries. Because of its diversity, it can authentically represent its diverse consumer base and think differently about the future. In April 2021 Diageo has introduced a new Gordon's ready-to-drink can. This drink contains a 0.0% alcohol-free spirit combined with a tonic and is ideal for a quick summer get-together. It is available in the United Kingdom and follows the December debut of Gordon's, an alcohol-free counterpart.
Alcopop Industry Developments
Asahi Holdings Ltd: Has acquired a small share in the Australian hard seltzer company "Little Mermaid," indicating a possible interest in the alcopop market niche.
December 2022: Bira 91 announced its entry into the cider market with the release of Hill Station. With this introduction, the corporation is expanding into new areas besides beer. This introduction is part of the company's aim to expand beyond beers into other categories, in line with rising demand for ready-to-drink options and a burgeoning generation of consumers eager to try new flavors.
October 2022: Bira 91 announced its entry into the cider market with the release of Hill Station. With this introduction, the corporation is expanding into new areas besides beer. This introduction is part of the company's aim to expand beyond beers into other categories, in line with the rising demand for ready-to-drink options and a burgeoning generation of consumers eager to try new flavors.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 4.1 Billion |
| Market Size 2023 | USD 4.37 Billion |
| Market Size 2032 | USD 6.81 Billion |
| Compound Annual Growth Rate (CAGR) | 5.80% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Base Type, Packaging Type,Distribution Channel, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Â Diageo PLC (UK), Asahi Group Holdings Ltd. (Japan), Suntory Holdings Limited (Japan), Halewood International Limited (UK), The Brown-Forman Corporation (US), Bacardi Limited (UK), Mike's Hard Lemonade Co. (US), Pernod Ricard SA (France), Anheuser-Busch InBev SA/NV (Belgium), The Miller Brewing Company (US), and United Brands Company Inc. (US) |
| Key Market Opportunities | Increasing youth population and their high inclination towards premium alcoholic beverages |
| Key Market Dynamics | Increased demand for alcoholic beverages imparting unique and refreshing flavors |
Alcopop Market Highlights:
Frequently Asked Questions (FAQ) :
The Alcopop market size was valued at USD 4.1 Billion in 2022.
The market is projected to grow at a CAGR of 5.80% during the forecast period, 2023-2032.
North America had the largest share in the market
The key players in the market are Diageo PLC (UK), Asahi Group Holdings Ltd. (Japan), Suntory Holdings Limited (Japan), Halewood International Limited (UK), The Brown-Forman Corporation (US).
The rum category dominated the market in 2022.
The store based had the largest share in the market.
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