Alcoholic Drinks Market to grow by USD 110.7 million between 2024-2028
According to a research report “ Alcoholic Drinks Market” by Distribution Channel (Offline, Online) Type (Beer, Wine, Spirits, RTD pre-mixes, Cider) Geography (APAC, Europe, North America, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 110.7 million at a CAGR of almost 6.56% during the forecast period. The craft alcoholic beverages sector is experiencing significant growth in consumer demand. This segment encompasses craft beer, spirits, and cider. Small, independent brewers spearhead this sector, innovating by reinterpreting traditional styles to create unique, distinctly flavored products. Consumers seeking product diversity favor craft beverages over traditional ones. Brewing methods and serving formats vary, with freshness ensured through cans, bottles, and kegs. Notable craft beer styles include American Amber Ale, American Barley Wine, American Sour, Barrel-Aged Beer, and English-Style Pale Ale..
Browse market data tables, figures, and in-depth TOC on “Alcoholic Drinks Market” by Distribution Channel (Offline, Online) Type (Beer, Wine, Spirits, RTD pre-mixes, Cider) Geography (APAC, Europe, North America, South America, Middle East and Africa) Global Forecast to 2028.
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By Distribution Channel, the Offline segment is projected to dominate the market size in 2024.
The alcoholic drinks market represents a significant business sector, with robust growth driven by increasing consumer preferences for premium and super-premium brands. Key trends include the rise of craft distilleries, the expansion of the global market, and the growing popularity of ready-to-drink (RTD) beverages. Market size is projected to reach substantial figures, driven by factors such as changing demographics, increasing disposable income, and the proliferation of e-commerce platforms.
By Type, Beer segment is expected to hold the largest market size for the year 2024.
The alcoholic drinks market represents a significant business sector, with robust growth driven by increasing consumer preferences for premium and super-premium brands. Key trends include the rise of craft distilleries, the expansion of the global market, and the growing popularity of ready-to-drink (RTD) beverages. Market size is projected to reach substantial figures, driven by factors such as changing demographics, increasing disposable income, and the proliferation of e-commerce platforms.
APAC is forecasted to hold the largest market size by region in 2024.
The alcoholic drinks market represents a significant business sector, with robust growth driven by increasing consumer preferences for premium and super-premium brands. Key trends include the rise of craft distilleries, the expansion of the global market, and the growing popularity of ready-to-drink (RTD) beverages. Market size is projected to reach substantial figures, driven by factors such as changing demographics, increasing disposable income, and the proliferation of e-commerce platforms.
The Alcoholic Drinks Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
In the dynamic realm of urbanization, the market for alcoholic drinks continues to thrive. Lounges, bars, and night parties are popular socializing venues where consumers indulge in super-premium and premium alcoholic beverages. Wineries and brewers produce a vast product variety, including flavored wine, vodka, premium whiskey, gin, and whiskey. Constellations Brands, among others, lead the industry in innovation and production. Restaurants, pubs, and hotels serve as key retailers for these beverages. Online retailers and specialty stores cater to consumers' preferences for convenience. Aluminum tins, glass bottles, and plastic bottles are common packaging options for spirits, wine, and beer. Microbreweries and craft beer have gained significant popularity, with mild-lager beer being a popular choice. The alcoholic drinks market is diverse and ever-evolving, offering consumers a wide range of product varieties to suit their unique tastes.
Market Research Overview
The alcoholic drinks market encompasses a wide range of beverages, including beer taprooms, champagne, distilled spirits, and non-alcoholic drinks. This market caters to various consumer segments, including those with digestive issues, liver disease, stroke, and heart disease, as well as health-conscious millennials. Alcoholic beverage manufacturers produce super-premium and premium alcoholic beverages, such as premium vodka, premium whiskey, gin, and fortified wine. These beverages are available in various product varieties, including flavored and unflavored spirits, wines, ciders, and beers. The market includes on-trade and off-trade channels, such as pubs, bars, restaurants, hotels, and online retailers. Urbanization and socializing have led to an increase in demand for alcoholic beverages in lounges, night parties, and social media influence. The market also includes hybrid beverages, such as flavored water, and non-alcoholic beverages. Alcoholic beverages come in various containers, including tins, glass bottles, and plastic bottles. Ethanol is the common alcoholic content in these beverages. Craft beer, internet retailing, grocery shops, liquor stores, and convenience stores are also part of this dynamic market.
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