The global alcoholic beverages market is expected to exhibit strong growth, reaching USD 2544.5 billion by 2028. As per the report titled "Alcoholic beverages Market Size, Share & COVID-19 Impact Analysis, By Type (Beer, Distilled Spirits, Wine and Others), By Distribution Channel (Convenience Stores, On-Premises, Liquor Stores, Grocery Shops, Internet Retailing and Supermarkets) and Regional Forecasts, 2022-2028" observes that the market size in 2021 stood at USD 1428.5 billion and USD 2544.5 billion in 2028. The market is expected to exhibit a CAGR of 10.10% during the forecast period.
Pernod Ricard Announced Collaboration with EducateAll platform of United Nations to Offer Free Sustainable Bartending Training
In May 2020, Pernod Ricard announced a collaboration with the United Nations EducateAll platform to provide free, long-term, and affordable bartending training via online platforms. All legal-drinking-age individuals can access the online courses using the EdApp mobile learning platform. This mobile platform collaborates EducateAll and the United Nations Institute for Training and Research.
Premiumization of Alcoholic Beverages is Driving Market
Consumers around the world have more developed palates than a decade ago. They are continually on the lookout for a novel, high-quality alcoholic beverages. The integration of natural ingredients in alcoholic beverages enhances their functionality, and such products are gaining consumer attention. The growing health consciousness among people, which encourages the integration of functional and natural ingredients, opens up more opportunities for the premium alcohol market. In recent years, the food service industry has seen massive sales, with premium alcoholic beverages, particularly premium wine and whiskey, accounting for a sizable portion of those sales. ?
Market will be Hampered by Emerging Energy Drinks and Consumer Health Perspectives.
As consumers' opinions of their health and well-being affect their purchase decisions, non-alcoholic and energy drinks are replacing various alcoholic beverages, posing a challenge to the industry. The industry may encounter difficulties due to consumers' greater health consciousness and their growing understanding of the risks associated with alcoholic beverages.
Major Players Develop Acquisition Plans to Boost Brand Image
The leading businesses in the alcoholic beverages market plan acquisitions to improve their brand recognition globally. For instance, in February 2022, Bud Light NEXT, a beer with no carbs, was made available in the U.S. by AB-InBev. The lager with a 4% ABV is low in calories, has no carbohydrates, and is light. The Super Bowl and the sweepstakes program, which may increase consumer attention, are anticipated to boost this debut.
Notable Industry Development
Pernod Ricard Announced Collaboration with EducateAll platform of United Nations to Offer Free Sustainable Bartending Training
In May 2020, Pernod Ricard announced a collaboration with the United Nations EducateAll platform to provide free, long-term, and affordable bartending training via online platforms. All legal-drinking-age individuals can access the online courses using the EdApp mobile learning platform. This mobile platform collaborates EducateAll and the United Nations Institute for Training and Research.
Premiumization of Alcoholic Beverages is Driving Market
Consumers around the world have more developed palates than a decade ago. They are continually on the lookout for a novel, high-quality alcoholic beverages. The integration of natural ingredients in alcoholic beverages enhances their functionality, and such products are gaining consumer attention. The growing health consciousness among people, which encourages the integration of functional and natural ingredients, opens up more opportunities for the premium alcohol market. In recent years, the food service industry has seen massive sales, with premium alcoholic beverages, particularly premium wine and whiskey, accounting for a sizable portion of those sales. ?
Market will be Hampered by Emerging Energy Drinks and Consumer Health Perspectives.
As consumers' opinions of their health and well-being affect their purchase decisions, non-alcoholic and energy drinks are replacing various alcoholic beverages, posing a challenge to the industry. The industry may encounter difficulties due to consumers' greater health consciousness and their growing understanding of the risks associated with alcoholic beverages.
Major Players Develop Acquisition Plans to Boost Brand Image
The leading businesses in the alcoholic beverages market plan acquisitions to improve their brand recognition globally. For instance, in February 2022, Bud Light NEXT, a beer with no carbs, was made available in the U.S. by AB-InBev. The lager with a 4% ABV is low in calories, has no carbohydrates, and is light. The Super Bowl and the sweepstakes program, which may increase consumer attention, are anticipated to boost this debut.
Notable Industry Development
- January 2020: To introduce the FRESCA brand into beverage alcohol, The Coca-Cola Company and Constellation Brands Inc., a major provider of alcoholic beverages, entered into a brand authorization agreement in the U.S.
List of Key Players Profiled in the Report
- ANHEUSER-BUSCH INBEV
- BACARDI LIMITED
- CARLSBERG GROUP
- CONSTELLATION BRANDS, INC
- DIAGEO PLC
- HEINEKEN HOLDING NV. (HEINEKEN N.V.)
- MOLSON COORS BREWING COMPANY
- PERNOD RICARD SA
- SUNTORY HOLDINGS LTD. (BEAM SUNTORY INC.)
- UNITED SPIRITS LIMITED
Further Report Findings
- The market in North America is expected to gain a huge portion of the global alcoholic beverages market share in the coming years due to an increase in the number of young adults and increased use of fine alcohol.
- In addition, the U.S.'s exploding demand for alcoholic beverages is fueled partly by the country's quickly increasing number of restaurants, cafes, hotels, and bars.
- In Asia Pacific, the growth in this region is primarily driven by a considerable rise in the region's disposable income.
| Attributes | Details |
| Study Period | 2016-2028 |
| Base Year | 2021 |
| Estimated Year | 2022 |
| Forecast Period | 2022-2028 |
| Historical Period | 2016-2020 |
| Unit | Revenue (USD Million) and Volume (Kilo Tons) |
| Segmentation | By Type, By Distribution Channel and By Geography |
| By Type |
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| By Distribution Channel |
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| By Region |
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