Alcoholic Beverages Market Growth Forecast Report 2024- 2032

Alcoholic Beverage Market Size

According to Renub Research, the global alcoholic beverages market reached US$ 1,769.07 billion in 2023 and is projected to grow at a CAGR of 5.02% from 2024 to 2032, reaching US$ 2,749.11 Billion by 2032

Alcoholic beverages are produced through fermentation, and their alcohol content is often increased through distillation. The alcohol percentage in a drink can range from 0.5 to 9.5%, depending on the production method. They are commonly consumed in societies worldwide and are often made from locally available materials. Examples of alcoholic beverages include wine from grapes, beer from sorghum and maize, and spirits from primary alcoholic drinks. This market is influenced by changing consumer preferences, demographic trends, product development and marketing innovations.

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One significant trend in the market, which presents a promising opportunity, is the increased consumer preference for premium and craft beverages, particularly beer and spirits. Consumers are more willing to pay a premium for unique flavors and artisanal production methods. This has led to the growth of craft breweries and small-batch distilleries that cater to these preferences, indicating a potential for further expansion in this sector.

Another notable trend, which reflects the industry’s adaptability, is the rise of health-conscious and socially responsible drinking, leading to the growth of low-alcohol and non-alcoholic alternatives. This includes innovations such as low-calorie beers, non-alcoholic wines, and spirits with reduced alcohol content, demonstrating the industry’s commitment to meet evolving consumer needs.

The market is also shifting towards sustainable and eco-friendly practices, driven by consumer awareness of the environmental impact of their choices. These practices involve the use of organic ingredients, reduced water usage, and recyclable packaging.

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The harmful consumption of alcohol contributes to 3 million deaths globally each year, accounting for 5.3% of all deaths. This has prompted some regions, like Bihar, Nagaland, Gujarat, Mizoram, and Lakshadweep in India, to prohibit legal alcohol consumption and other areas to impose partial bans. Such government policies can impact the global demand for alcoholic beverages.

Europe Alcoholic Beverages Market

In Europe, the most significant alcoholic beverages are beer, wine, and brandy. The drinking patterns in European countries vary, with Central European countries being connected with beer drinking, Mediterranean countries with wine drinking, and Eastern or Northern European countries with spirits drinking. The demand for innovative variations of beer is expected to drive the European alcoholic beverages market.

On average, a European household can afford to purchase 1,628 standard drinks of alcohol with its monthly income, with the most affordability in Germany, Austria, France, and Luxembourg. For example, Heineken launched Heineken Silver, a premium lager targeted at Gen Y and Z drinkers in the United Kingdom and the European Union.

Alcoholic Beverage Company Analysis

Some major companies operating in the alcoholic beverage industry include Anheuser-Busch InBev SA/NV, Carlsberg Group, Constellation Brands Inc., Heineken N.V., Molson Coors Beverage Company, Pernod Ricard SA, and Suntory Holdings Limited.

Merger & Acquisition in Alcoholic Beverages Market

Ø In November 2022, Diageo acquired Balcones Distilling, a Texas craft distiller and one of the leading American Single Malt Whisky manufacturers in the United States.

Ø In March 2022, Constellation Brands Inc. and The Coca-Cola Company formed an agreement authorizing the use of the FRESCA brand in the alcoholic beverage category in the United States.

Ø Bacardi Limited recently announced that it has completed a transaction making it the sole owner of ILEGAL Mezcal. This announcement was made in September 2023.

Ø February 2023, Dutch brewing giant Heineken received an investment from Bill Gates, who acquired a 3.76% stake in the company.

Ø In March 2023, Carlsberg Canada completed the acquisition of Waterloo Brewing.

Type — Market breakup in 4 viewpoints:

1. Beer

2. Distilled Spirits

3. Wine

4. Others

Packaging — Market breakup in 3 viewpoints:

1. Glass Bottle

2. Tin

3. Plastic Bottle

Distribution Channel — Market breakup in 6 viewpoints:

1. Convenience Stores

2. On Premises

3. Liquor Stores

4. Grocery Shops

5. Internet Retailing

6. Supermarkets

Country — Market breakup of 25 Countries:

1. North America

1.1 United States

1.2 Canada

2. Europe

2.1 France

2.2 Germany

2.3 Italy

2.4 Spain

2.5 United Kingdom

2.6 Belgium

2.7 Netherlands

2.8 Turkey

3. Asia Pacific

3.1 China

3.2 Japan

3.3 India

3.4 South Korea

3.5 Thailand

3.6 Malaysia

3.7 Indonesia

3.8 Australia

3.9 New Zealand

4. Latin America

4.1 Brazil

4.2 Mexico

4.3 Argentina

5. Middle East & Africa

5.1 Saudi Arabia

5.2 UAE

5.3 South Africa

All the Key players have been covered from 3 Viewpoints:

• Overview

• Recent Development

• Revenue Analysis

Company Analysis:

1. Anheuser-Busch InBev SA/NV

2. Carlsberg Group

3. Constellation Brands Inc.

4. Heineken N.V.

5. Molson Coors Beverage Company

6. Pernod Ricard SA

7. Suntory Holdings Limited

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