The Digital Transformation of Alcoholic Beverages Market
The global alcoholic beverages market comprises a wide range of alcoholic drinks from beer, wine to spirits and mixed drinks. Beer is the most widely consumed alcoholic drink with lager being the dominant beer type. Wine is produced from fermented grape juice and comes in various varieties based on the region of origin and type of grapes used. Spirits are distilled alcoholic drinks made by distilling fermented grain, fruit or vegetables and include vodka, whisky, brandy and rum.
The Global Alcoholic Beverages Market is estimated to be valued at US$ 1,769.41 Bn in 2024 and is expected to exhibit a CAGR of 2.5% over the forecast period 2023 to 2030.
Key Takeaways
Key players operating in the alcoholic beverages market are 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). Key players focus on expanding their production facilities and product lines to meet the growing demand. New product launches specifically targeting female consumers and premiumization has been a key strategy adopted by leading players.
The growing social drinking trend especially among millennials and generation Z has boosted the demand for alcoholic beverages. The rising disposable incomes and socialization in pubs, bars, clubs and restaurants has encouraged alcohol consumption globally. Economic development in emerging Asian and African countries is translating to higher spending power and Westernization driving the market growth.
The global alcoholic beverages market has witnessed steady expansion into new international markets over the past decade. Companies focus on capitalizing growth opportunities in Asia Pacific and Latin America with their large consumer base. Africa is also emerging as an attractive market supported by rapid urbanization. Manufacturers emphasis on market penetration through strategic collaboration with local distributors and contract brewing/packing arrangements to establish global footprint.
The Digital Transformation of Alcoholic Beverages Market
The global alcoholic beverages market comprises a wide range of alcoholic drinks from beer, wine to spirits and mixed drinks. Beer is the most widely consumed alcoholic drink with lager being the dominant beer type. Wine is produced from fermented grape juice and comes in various varieties based on the region of origin and type of grapes used. Spirits are distilled alcoholic drinks made by distilling fermented grain, fruit or vegetables and include vodka, whisky, brandy and rum.
The Global Alcoholic Beverages Market is estimated to be valued at US$ 1,769.41 Bn in 2024 and is expected to exhibit a CAGR of 2.5% over the forecast period 2023 to 2030.
Key Takeaways
Key players operating in the alcoholic beverages market are 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). Key players focus on expanding their production facilities and product lines to meet the growing demand. New product launches specifically targeting female consumers and premiumization has been a key strategy adopted by leading players.
The growing social drinking trend especially among millennials and generation Z has boosted the demand for alcoholic beverages. The rising disposable incomes and socialization in pubs, bars, clubs and restaurants has encouraged alcohol consumption globally. Economic development in emerging Asian and African countries is translating to higher spending power and Westernization driving the market growth.
The global alcoholic beverages market has witnessed steady expansion into new international markets over the past decade. Companies focus on capitalizing growth opportunities in Asia Pacific and Latin America with their large consumer base. Africa is also emerging as an attractive market supported by rapid urbanization. Manufacturers emphasis on market penetration through strategic collaboration with local distributors and contract brewing/packing arrangements to establish global footprint.
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