Alcoholic Beverages Market, Size, Share, Growth and Trends Through 2032

The alcoholic beverages market was USD 2,313.2 billion in 2023 and is projected to grow from USD 2,527.0 billion in 2024 to USD 5,716.2 billion by 2032, representing a compound annual growth rate (CAGR) of 10.74% during the forecast period (2024–2032).

Alcoholic beverages are created by fermenting sugars derived from various sources, including fruits, grains, berries, plant saps, milk, tubers, and honey. In some cases, distillation is used to enhance the alcohol concentration by separating it from the original liquid mixture.

This data is sourced from Fortune Business Insights' report titled "Alcoholic Beverages Market, 2024–2032."

List of Key Players Mentioned in the Report:

• Anheuser-Busch Inbev (BUD) (Belgium)
• Asahi Group (Japan)
• Bacardi (Bermuda)
• Brown Forman (U.S.)
• Carlsberg (Denmark)
• Constellation Brands (U.S.)
• Diageo (U.K.)
• Heineken (Netherlands)
• Pernod Ricard (France)
• Suntory (Japan)

Information Source: https://www.fortunebusinessinsights.com/alcoholic-beverages-market-107439 

 Segments:

Distilled Spirits Lead the Market Share, Driven by the Rise in Distilleries

The largest share of the market is held by the distilled spirits segment, propelled by the growing number of distilleries. Social media has played a significant role in helping consumers discover new spirits and locate local distilleries.

Beer ranks second in market share. The beer industry is highly competitive, with numerous international and local players competing for market dominance. The U.S. is a major global beer exporter. Additionally, the influence of Western culture has shaped the preferences of younger generations, particularly towards beer. In South Asian countries, beer is the most consumed alcoholic beverage among young adults.

Food Service Segment Dominates Due to Increased Socializing

Post-pandemic socializing and gatherings have spurred an increase in alcoholic beverage consumption, particularly benefiting the food service sector. Many consumers, especially young adults, are shifting their preferences from beer to brown liquors such as scotch, brandy, rum, and whisky.

Report Coverage:

The report offers:

• Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
• Comprehensive insights into regional developments.
• List of major industry players.
• Key strategies adopted by the market players.
• Recent industry developments include product launches, partnerships, mergers, and acquisitions.