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Alcoholic Beverages Market
The report segments the global alcoholic beverages market based on type, distribution channel, and region.
PORTLAND, OR, UNITED STATES, August 26, 2021 /EINPresswire.com / -- Most cultures across the globe have traditionally consumed various types of alcoholic beverages ; however, local specialty alcoholic beverages account for the majority share. Only a small number have evolved into commodities that are produced commercially on a large scale. On a global level, beer from barley, wine from grapes, and other distilled beverages are sold as commodities. The pricing of these beverages is determined by the costs of production and the duties levied on those costs. The effects of prices as measured with price elasticities differ across countries and in different time periods.
The global alcoholic beverages market was valued at $1,439 billion in 2017, and is expected to reach $1,684 billion by 2025, registering a CAGR of 2.0% from 2018 to 2025.
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The demand for distilled spirits in the alcoholic beverages industry is relatively high, owing to shift toward high-grade spirit variants. The consumption of hybrid, mixed, and flavored spirits is expected to increase in the near future, due to the consumer demand shift from beer.
Increase in global young adult demographic coupled with high disposable income significantly contributes towards the growth of the global alcoholic beverages market. However, high cost of premium/super premium products and upsurge in demand for non-alcoholic beverages, owing to health concerns are expected to hamper the market growth during the forecast period. In addition, taxations and higher excise duties on imported as well as local alcoholic beverages also inhibits the market growth. On the contrary, introduction of healthier varieties of beer and spirits is expected to offer lucrative opportunities for alcoholic beverages market players.
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In 2017, Asia-Pacific and Europe collectively accounted for over half of the global alcoholic beverages market share. However, Europe is expected to grow at a faster rate during the forecast period.
Major companies have adopted agreement, product launch, expansion, and merger strategies to sustain the intense market competition. The key players profiled in the report include Anheuser-Busch InBev SA/NV, Bacardi Limited, Beam Suntory Inc., Constellation Brands Inc., Diageo Plc, Heineken Holding NV, Molson Coors Brewing Co., Pernod Ricard SA, SABMiller Ltd., and United Spirits Ltd.
Other market players (not profiled in report) in the value chain include Accolade Wines Ltd., Asahi Breweries Ltd., Brown-Forman Corp., Carlsberg A/S, China Resources Beer Company Limited, Rémy Cointreau SA, Tsingtao Brewery Co. Ltd., Treasury Wine Estates, Thai Beverage Public Co., Ltd., and The Wine Group.
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Key Benefits for the Alcoholic Beverages Market
This report provides an extensive analysis of the current trends and emerging estimations & dynamics in the alcoholic beverages market.
In-depth analysis of alcoholic beverages market size is conducted, and estimations for key segments between 2017 and 2025 are provided.
Factors that drive and restrain the growth of the market are provided.
Market share for all segments with respect to each geography is detailed in the report.
Key market players are profiled and their strategies are analyzed thoroughly, which provide a competitive outlook of the alcoholic beverages industry trends.
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