Alcoholic Beverages Market
Alcoholic beverages are drinks that contain ethanol or ethyl alcohol. Alcoholic beverages are formed by the fermentation of grains, fruits, and many other ingredients such as honey, plant saps, milk, and tubers. Fermented liquid is further subjected to distillation in order to reduce the water content in order to obtain superior alcoholic strength. Generally, any source of sugar and yeast can generate alcohol. Alcohol acts as a depressant in small doses and helps in reducing anxiety and improving sociability. Long-term consumption of alcohol can lead to addiction and physical dependence. Additionally, high consumption of alcohol increases the risk of high blood pressure, stroke, and heart disease.
Rising urban population worldwide has contributed to increased consumption of alcoholic beverages. Increasing disposable income coupled with rising consumption of alcoholic beverages is driving the growth of the global alcoholic beverages market. Consumers are spending more on outdoor activities and at nightclubs, resorts, and pubs for entertainment purpose. Changing lifestyles and availability of premium alcohol products are projected to boost the alcoholic beverages market in the forecast period.
Based on product type, the alcoholic beverages market is segmented into wine, beer, and spirit. Beer segment accounted for a major market share in 2017 in terms of volume. Based on the packaging, the market is segmented into tins, glass bottles, and plastic bottles. The glass bottles packaging segment accounted for the significant market share in 2017 in terms of revenue. Tins segment is anticipated to attain a considerable market share in the near future and is projected to grow at a significant pace during the forecast period.
Based on the sales channel, the alcoholic beverages market is segmented into hotels/bars/restaurants, online retailers, specialty stores, and convenience stores. The specialty store and convenience store segments have accounted for the largest market share in 2017. The hotels/bars/restaurants segment represents the on-premise consumption of alcoholic beverages. On-site consumption of alcoholic beverages is less as compared to off-site consumption, such as through specialty and convenience stores. Rapidly changing and increasing taxes on drinking and dining is anticipated to discourage consumers from on-premise consumption of alcoholic beverages during the forecast period.
By geography, North America held the principle market share in 2017, in terms of revenue. The market is projected to be driven by an increasing consumption of alcoholic beverages in the young-adult generation. In terms of revenue, North America was followed by the Asia Pacific and Europe in 2017. The Asia Pacific is projected to witness considerable growth in the years to come owing to growing urban population, high disposable income, and availability of local and imported alcoholic beverages through various distribution channels.
The principal players are focusing on new product development and acquisition strategies in order to produce innovative products and expand their business internationally. Some of the key players included in the global alcoholic beverages market report are Constellation Brands Inc., Bacardi Limited, Beam Suntory Inc., Anheuser-Busch InBev SA/NV, Molson Coors Brewing Co., Diageo Plc, Heineken Holding NV, Brown-Forman Corp., SABMiller Ltd., United Spirits Ltd., Asahi Breweries Ltd., Carlsberg A/S, China Resources Beer Company Limited, Treasury Wine Estates, Tsingtao Brewery Co. Ltd., Thai Beverage Public Co., Ltd., Rémy Cointreau SA, Accolade Wines Ltd., Pernod Ricard SA, and The Wine Group.