Alcoholic Beverages Market to Reach $1,685 Billion, Globally, by 2025 at 2.0% CAGR, Says Allied Market Research
PORTLAND, Oregon, September 25, 2018 /PRNewswire/ --
Increase in young consumer population, surge in disposable income, and rise in demand for premium products would drive the growth of the global alcoholic beverages industry
Allied Market Research published a report, titled, Alcoholic Beverages Market by Type (Beer, Distilled Spirits, Wine, and Others) and Distribution Channel (Convenience Stores, On Premises, Liquor Stores, Grocery Shops, Internet Retailing, and Supermarkets): Global Opportunity Analysis and Industry Forecast, 2018-2025. The report offers an extensive analysis of the top impacting factors, drivers & opportunities, current market size & estimations, key segments, and competitive landscape. According to the report, the global alcoholic beverages market accounted for $1,439 billion in 2017 and is estimated to reach $1,685 billion by 2025, growing at a CAGR of 2.0% from 2018 to 2025.
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Surge in young drinkers' population, rise in disposable income, and increase in demand for premium products drive the growth of the industry. However, high prevalence of nonalcoholic beverages and rise in health concerns hamper the market growth. On the other hand, significant developments related to honey-derived products, which are used as an alternative to alcoholic beverages, would create new pathways for the market players.
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Beer segment to remain dominant, distilled spirit segment to grow the fastest by 2025
The beer segment contributed more than one-third of the total market share in 2017 and is expected to remain dominant throughout the forecast period. This is attributed to the surge in population of young drinkers and rise in disposable income. However, the distilled spirit segment would grow at the fastest CAGR of 2.3% from 2018 to 2025, owing to boom in premium whiskey consumption and changes in consumer preferences. The report also analyzes wine and other types of alcoholic beverages.
Supermarket to retain its lion's share in terms of revenue by 2025
The supermarket segment accounted for more than one-fourth of the total market share in 2017 and will maintain its dominant position by 2025, owing to rapid urbanization and availability of products at a low cost. However, the internet retailing segment is expected to grow at the fastest CAGR of 4.3% from 2018 to 2025. This is due to benefits of online purchasing such as convenience, ease of payment, and large product base. The other distribution channels discussed in the research include liquor stores, convenience stores, on premises, and grocery shops.
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Asia-Pacific to retain top spot throughout the forecast period
In terms of revenue, Asia-Pacific contributed more than one-third of the total market share in 2017. This region would continue its dominance throughout the forecast period, owing to launch of new products and flavors by market players along with increase in disposable income of consumers. However, Europe would grow at the fastest CAGR of 2.3% from 2018 to 2025, owing to growing preference for high-quality cocktails and rise in young and middle-aged consumers.
Key market players
The market players analyzed in the report include Anheuser-Busch InBev SA/NV, Beam Suntory Inc., Bacardi Limited, Diageo Plc, Constellation Brands Inc., Molson Coors Brewing Co., Heineken Holding NV, SABMiller Ltd., Pernod Ricard SA, and United Spirits Ltd. The report also provides insights on strategies, such as new product launches, expansions, partnerships, mergers & acquisitions, collaborations, joint ventures, and others, which have been adopted by these players to gain a strong foothold in the industry.
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