LONDON--(BUSINESS WIRE)--The global alcoholic drinks market is expected to grow by 18.88 bn liters as per Technavio. This marks a significant market growth compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. Steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of over 1%.
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The market is driven by the premiumization of drinks. In addition, the demand for lighter alcoholic beverages that pose fewer health risks is anticipated to boost the growth of the alcoholic drinks market.
The rich taste and enhanced smoothness of premium alcoholic beverages have increased their demand among consumers. During 2009-2014, the super-premium alcoholic drinks segment grew by about 5%, while the premium segment witnessed a growth of about 2%. In addition, the demand for premium alcoholic drinks has been growing faster in comparison to regular priced alcoholic drinks. This is encouraging market players to introduce a wide range of products in the premium alcoholic drinks segment to expand their customer base. Therefore, the increasing focus on product premiumization is one of the key factors driving the growth of the global alcoholic drinks market.
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Major Five Alcoholic Drinks Companies:
Anheuser Busch InBev SA/NV
Anheuser Busch InBev SA/NV operates its business through segments such as North America, Latin America West, Latin America North, Latin America South, EMEA, APAC, and Global Export and holding companies. The company offers beer under numerous brands including Brahma, Aguila, Budweiser, Corona, Kirin, and others.
Bacardi Global Brands Ltd.
Bacardi Global Brands Ltd. operates its business through segments such as BACARDI Rum, DEWAR'S Blended Scotch Whisky, BOMBAY SAPPHIRE Gin, GREY GOOSE Vodka, and Others. The company offers spirits and wine products under brands such as Bombay Sapphire, Dewar, Bacardi, Martini Vermouth, Eristoff, Grey Goose, Aberfedly, and Cazadores.
Beam Suntory Inc.
Beam Suntory Inc. operates its business through segments such as Whiskey, Tequila, Cognac, Vodka, and Others. The company offers spirit products under numerous brands including Jim Beam, Hibiki whisky, Vox vodka, and others.
Carlsberg Group operates its business through segments such as Western Europe, Asia, and Eastern Europe. The company offers alcoholic and non-alcoholic products under international and local brands.
Constellation Brands Inc.
Constellation Brands Inc. operates its business through segments such as Beer, Wine and Spirits, and Corporate Operations and Other. The company offers beers, spirits, and wines.
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Alcoholic Drinks Market Type Outlook (Revenue, Billion Liters, 2020-2024)
- RTD pre-mixes
Alcoholic Drinks Market Regional Outlook (Revenue, Billion Liters, 2020-2024)
- North America
- South America
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