The global alcoholic beverages market is projected to grow at over 6% CAGR globally during the forecast period 2017-2025. A combination of global and regional factors is likely to impact the growth of the market during the forecast period. These insights are according to a new research report added to the repository of Market Research Reports Search Engine (MRRSE). The report is titled “Alcoholic Beverages Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025”.
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There are a number of factors which are affecting the growth of the global alcoholic beverages market. These include growing urbanization, rising disposable income in developing countries, relaxing attitudes towards alcohol in conservative demographics, and easy access to alcohol through opening of alcohol shops and bars. Revenues generated through high volume sales especially in China and India will continue to add to global revenues; however, an interesting trend is shaping up in these high volume markets. Increasing awareness about the ingredients used in the manufacture of alcohol has led to surge in demand for mid-priced alcoholic beverages. For a long time, the demand was mainly concentrated in low-priced segment; however, the emergence of a strong middle class has led to evolution in preferences.
According to the report, among the various types of alcoholic beverages, beer continues to enjoy popularity, as it is the drink-of-choice for millennials. Due to the less alcohol content and competitive pricing, sales of beer are likely to remain high during the forecast period. Further, the penetration of beer-only bars is higher than bars serving all types of alcohol, which again has been a catalyst for increased demand. According to the report, beer will continue to account for a leading share in terms of revenues. In 2017, the beer segment accounted for over 40% revenue share of the market, and the trend is likely to continue during the forecast period as well.
Sales of alcoholic beverages through specialty stores will continue to be a leading source of revenue generation globally. According to the report, relaxation in the granting of license and less interference from red tape are likely to boost sales through specialty stores during the forecast period. However, the health risks associated with alcohol continue to remain a longstanding challenge. Excess consumption of alcohol has been linked with a number of diseases, and many states globally have toyed with the idea of enforcing a blanket ban on alcoholic beverages. The high revenue generated by government in the form of tax continues to prevent blanket bans; however, the high cost eventually gets passed on to the consumers, which again, creates challenges in widespread adoption. These factors are likely to impede the growth of the market during the forecast period.
Browse Full Global Alcoholic Beverages Market Report with TOC : https://www.mrrse.com/alcoholic-beverages-market
The leading companies profiled in the report include Asahi Group Holdings Ltd., Carlsberg A/S, Suntory Holdings Ltd., Anheuser-Busch InBev SA/NV, Brown-Foran Corporation, Molson Coors Brewing Co., Bacardi Limited, The Boston Beer Company Inc., Diageo Plc., Heineken Holding N.V., Constellation Brands Inc., Haelwood International Holdings Plc Craft Brew Alliance Inc., Pernod Ricard SA, The Wine Group LLC, United Breweries Limited, Accolade Wines Holdings Australia Pty Limited, DGB Pty Ltd., Bundaberg Brewed Drinks Pty Ltd., and Bronco Wine Company.
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