LONDON--(BUSINESS WIRE)--The global alcoholic beverages market size is poised to reach USD 349.68 billion by 2023, according to a new report by Technavio, progressing at a CAGR of 3% during the forecast period.
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The market is driven by the rising demand for superior and premium alcoholic beverages. Also, the increasing popularity of alcohol consumption among youths is anticipated to further boost the growth of the market during the forecast period.
Consumers prefer expensive premium products which are produced from natural ingredients and undergo careful and detailed aging and distillation process. The growing awareness about the harmful effects of low-quality alcohol is further contributing to the increasing demand for superior and premium alcoholic beverages. This will be a significant factor which will have a positive impact on the global alcoholic beverages market and fuel growth during the forecast period.
The Americas and Europe account for the highest levels of alcohol consumption globally, with Africa being at the intermediate level. The rise of this demographic is expected to boost market growth during the forecast period.
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The report includes detailed profiles of the leading companies & prominent vendors of the market:
- Anheuser-Busch InBev SA/NV
- Carlsberg Breweries AS
- Diageo Plc
- Heineken NV
- Kirin Holdings Co. Ltd.
Market Segmentation by Category and Product Types:
The Alcoholic Beverages Market can be broadly categorized into the following product segment:
Key Regions for the Alcoholic Beverages Market:
Featuring a breakdown of region wise market shares until 2019.
- North America
- South America
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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