The Alcoholic Beverages Market Is Estimated To Witness High Growth Owing To Health-Conscious Trend

Market Overview:

The alcoholic beverages market involves the production and distribution of intoxicating alcoholic drinks. This includes beer, wine, spirits, and mixed drinks. Alcoholic beverages are widely consumed around the world for enjoyment as well as for social and cultural purposes. The market offers a variety of beverage options for consumers to choose from according to their preferences.

Market key trends:

The alcoholic beverages market is witnessing a major trend of increasing adoption of low- and no- alcohol drinks owing to rising health-consciousness among consumers. In recent years, there has been an increase in demand for low-alcohol and alcohol-free beverage options among consumers who are looking to reduce their alcohol intake for health reasons. Many consumers, especially millennials, are opting for low-alcohol drinks in order to avoid the calories and negative effects of excessive drinking. To tap into this consumer trend, major alcohol brands are introducing new product ranges with differentiated alcohol content including no-alcohol options. For instance, large beer companies are offering alcohol-removed and low-alcohol versions of their flagship brands. This increasing focus on health-conscious alcoholic drinks is expected to open up new opportunities for innovation and growth in the market over the forecast period.

The global Alcoholic Beverages Market Demand is estimated to be valued at US$1,769.41 Bn or Mn in 2023 and is expected to exhibit a CAGR of 2.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Porter's Analysis

Threat of new entrants: High capital requirement for production facilities and distribution networks act as entry barriers in the alcoholic beverages market. Moreover, established brand loyalty makes it difficult for new players to gain market share.

Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitute and private label products. However, strong brand loyalty limits their influence.

Bargaining power of suppliers: A few major companies dominate production of raw materials like grains and spirits, giving them significant influence on pricing. However, availability of substitute inputs provides some balance.

Threat of new substitutes: Non-alcoholic beverages and cannabis-based products pose a threat, though brand loyalty and social/cultural factors supporting alcohol consumption mitigate this threat.

Competitive rivalry: The market is highly competitive with major global players competing on basis of brand, product variety, pricing and distribution.

SWOT Analysis

Strengths: Strong brands, product innovation, global distribution networks, economies of scale in production and marketing.

Weaknesses: Vulnerability to regulations on pricing, advertising and taxation. Heavy taxation increases production costs.

Opportunities: Expanding into emerging markets, premiumization trend offering higher margin products, diversifying into related sectors like tourism.

Threats: Rising health consciousness, binge drinking concerns, alternative intoxicants, regulations on consumption. Economic slowdowns negatively impact discretionary spending on alcohol.


Key Takeaways

The global alcoholic beverages market is expected to witness high growth, exhibiting CAGR of 2.5% over the forecast period, due to rising socializing habits and disposable income in emerging economies. Developing regions like Asia Pacific and Latin America contribute significantly to global market growth.

Regional analysis: Asia Pacific dominates the global market currently due to large population, cultural acceptance of drinking and rising incomes in China, India and other economies. It is anticipated to capture over 30% market share by 2030 with China outpacing others in growth. North America and Europe are also substantial markets though growth has slowed due to maturation.

Key players operating in the alcoholic beverages market include Halewood International Limited, Davide Campari-Milano N.V, Diageo, ASAHI GROUP HOLDINGS, LTD., Accolade Wines, Bacardi, Mike's Hard Lemonade Co., CASTEL FRÈRES., SUNTORY HOLDINGS LIMITED, Anheuser-Busch Companies LLC, Brown‐Forman and Pernod Ricard. Leading companies are expanding through strategic partnerships, mergers and new product innovations targeting premium and craft sectors.

Read More: https://www.ukwebwire.com/new-avanue-for-alcoholic-beverages-market-size-and-share-analysis/