Press Release

Alcoholic Drinks Market to be valued at USD695.01 Billion by 2026F

Growing young population base & changing consumer taste & preferences are expected to drive the alcoholic drinks market globally.

According to TechSci Research report, “Global Alcoholic Drinks Market By Product (Beer, Vodka, Whisky, Wine, Rum & Others (Gin, Tequila, Brandy, Breezer, etc.)), By Packaging Type (Bottles and Can), By Distribution Channel (Liquor Stores, On-Premises, Convenience Stores, Hypermarket/Supermarket, Online Sales Channel & Others (Direct Selling, Airport Retails, etc.)), By Region, Competition, Forecast and Opportunities, 2026”, the global alcoholic drinks market was valued at USD470.20 billion in 2020 and is expected to reach USD695.01 billion by 2026F with a CAGR of 6.92% during the forecast period. The demand for alcoholic drinks across the world has witnessed considerable growth due to various social, economic, and cultural changes across the globe.

Growth in the market can be attributed to rising disposable income, increasing nightlife culture, increasing demand for premium/super-premium products, and the introduction of organic beverages. The company named Prairie Organic Spirits introduced organic vodka and gin as people are becoming more health-conscious and they know the bad effects of alcohol consumption. Consumers in most mature and growing markets have begun to prefer quality over quantity; as a result, the industry's top competitors are diversifying their product portfolios through strategic acquisitions of breweries in order to increase their global presence and target the premium alcoholic drinks market.

The global alcoholic drinks market is segmented into product, packaging type, distribution channel, region, and company. In terms of product, the global alcoholic drinks market is segmented into beer, wine, whisky, vodka, rum, and others. Out of these, vodka is the fastest growing product type in the global alcoholic drinks market due to maintained flavor with the consumers across the globe. Vodka producers are now using a variety of ingredients to create it in distil form, as well as experimenting with new flavors. Furthermore, companies have improved packaging and expanded the ability to personalize vodka bottles for gifting.

In terms of packaging type, the global alcoholic drinks market is segmented into bottles and can. Among them, bottles have accounted for the majority of market share in the global alcoholic drinks market because of the design and innovation in glass packaging. Various spirits and wine brands have benefited from exceptional product differentiation.

In terms of distribution channel, the global alcoholic drinks market is segmented into hypermarket/supermarket, liquor stores, on-premises, convenience stores, online sales channel & others. Among them, the online sales channel is the fastest-growing segment in the global alcoholic drinks market, owing to changing consumer buying patterns, as consumers have shifted to online channels for buying alcoholic drinks due to the closure of liquor stores during lockdown, and companies are also planning to increase their distribution reach through the online sales channel.

Browse 109 Figures spread through 110 Pages and an in-depth TOC on "Global Alcoholic Drinks Market"

https://www.techsciresearch.com/report/alcoholic-drinks-market/7961.html

In terms of regional analysis, the global alcoholic drinks market is segmented into Asia-Pacific, Europe, North America, South America, and Middle East and Africa. Among these, Europe has dominated the market with a majority share of around 33% in the global alcoholic drinks market in 2020, followed by North America due to the availability of a wide range of low alcoholic drinks with innovative flavors in the region.

The major companies which are operating in the global alcoholic drinks market are Anheuser-Busch InBev, Heineken Holding N.V, Diageo, Kweichow Moutai Co. Ltd.,   Pernod Ricard and Others. Companies are constantly investing in terms of product innovation, brand development, changing their marketing strategies and packaging style to maintain a strong customer base in the alcohol drinks market across the globe. Major brands such as Absolut Vodka, Perrier-Jouët, and Beefeater of Pernod Ricard company, are focusing on sustainable packaging. They are planning to reduce waste and preserve natural resources by reusing, reimagining, recycling, and reducing.

The Absolut Vodka brand has just passed a significant milestone, obtained 50% recycled material in its clear glass container four years ahead of schedule. Despite the obstacles of reaching that degree of recycled glass, the Absolut Vodka was able to keep the bottle's clearness by close collaboration with its glassmaker, Ardagh Group. This significant accomplishment follows the launch of the Absolut paper bottle prototype, which marked the brand’s first step towards a wholly bio-based bottle able to contain spirits.

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“Nowadays most alcoholic drinks companies are strengthening their distribution channels such as focusing on online sales channels and opening their stores at airports which is substantially contributing to the growth of the alcoholic drinks market globally.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Global Alcoholic Drinks Market By Product (Beer, Vodka, Whisky, Wine, Rum & Others (Gin, Tequila, Brandy, Breezer, etc.)), By Packaging Type (Bottles and Can), By Distribution Channel (Liquor Stores, On-Premises, Convenience Stores, Hypermarket/Supermarket, Online Sales Channel & Others (Direct Selling, Airport Retails, etc.)), By Region, Competition, Forecast and Opportunities, 2026”, has evaluated the future growth potential of global alcoholic drinks market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides this, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the global alcoholic drinks market.

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