The Alcoholic Drinks Market is being driven by Increase in popularity of craft alcoholic beverage segment
The Alcoholic Drinks Market is expected to grow at a CAGR of 7% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 728.9 billion. In developing economies, including India, China, Indonesia, and Singapore, the alcoholic drinks market is experiencing robust growth, driven by the expanding middle class and rising demand for premium and imported beverages. Producers are capitalizing on this trend by expanding distribution channels, such as online stores and convenience retailers, to meet the increasing consumer demand. Urbanization and evolving social norms have also contributed to the market's expansion, with alcoholic drinks becoming more socially acceptable at social gatherings and events. The global alcoholic drinks market is poised for significant growth, fueled by these key factors.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
|
Report Coverage |
Details |
Page number |
207 |
Base year |
2024 |
Historic period |
2019-2023 |
Forecast period |
2025-2029 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7% |
Market growth 2025-2029 |
USD 728.9 billion |
Market structure |
market_structure.ucfirst |
YoY growth 2024-2025(%) |
6.8 |
Key countries |
US, China, Germany, Japan, UK, India, Canada, France, South Korea, and Italy |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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The Alcoholic Drinks Market encompasses various bottle types, including Plastic and Glass, distributed through Convenience Stores, Specialty Shops, and Online Retailers. It offers a wide range of products from Craft Beer, Mild-lager, to Premium Whiskey and Flavored Wine. Constellations Brands lead in the market, while Product Varieties cater to diverse consumer preferences. Night parties feature Premium and Super-premium Alcoholic Beverages.
The global brewers market encompasses entities engaged in the production of beer, craft beer, and malt liquors, excluding equipment such as commercial beer dispensers and kegerators. Key growth drivers include the substantial expansion of craft beer production, particularly in developed markets. In the US, for instance, the number of craft brewers has experienced substantial growth since 2021, with microbreweries accounting for approximately 80% of the total production. This surge in craft beer production is a significant market trend.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
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