Global Alcoholic Beverages Market is anticipated to be driven by the increasing per capita disposable income of the consumer in developed over the past few years. Also, the increasing purchasing power of the consumer in developing nation is considered to be the significant for the rising growth of alcoholic beverages in the near future. Changing lifestyles of the consumer to adopt western culture in Asian countries is anticipated to stimulate the sales of alcoholic beverages.
Manufacturers are launching new products in various flavors and colors to suit the specific requirement of the consumer. Also, the manufacturers of Alcoholic beverages are focusing to enhance its packaging solution in order to attract new customers.
Alcoholic is an odorless liquid obtained by fermentation of sugar. Various types of compounds are present in the alcohol. However, ethyl is considered to be food grade alcohol in maximum alcoholic beverages. Ethanol or Ethyl alcohol is manufactured through a natural process when the yeast transforms the sugar contained in fruit, cereals, and sugar-canes, into alcohol. The process used for its preparation is called fermentation.
Alcoholic beverages market is highly concentrated in Europe. Asia Pacific has massive potential for alcoholic beverages, as there is an increasing consumer awareness regarding the alcoholic beverages coupled with the per capita disposable income is anticipated to fuel the sales of alcoholic beverages during the forecast period.
Downstream Analysis-
Distilled spirit segment is estimated to account maximum market proportion during the forecast period of 2017 to 2023. Among the distilled spirit segment, whiskey is estimated to retain its dominance throughout the forecast period of 2017-2023. Beer is projected to witness highest growth as compare to the other segment. In terms of distribution channel, supermarkets & hypermarkets is likely to hold maximum market proportion during the forecast period. However, online sales is gaining momentum in the developing nation which is projected to observe maximum growth during the review period.
Alcoholic Beverages Market is segmented into Europe, North America, Asia Pacific, and rest of the world (ROW). Among these, Europe region is expected to retain its dominance throughout the forecast period. This is attributed by the increasing per capita disposable income coupled with the changing lifestyles of the consumer in the Eastern Europe economies. North America is also estimated to hold healthy market proportion in the Alcoholic beverages market. Asia Pacific region is projected to grow at a substantial growth during the forecast period. However, China is projected to register maximum CAGR during the forecast period in Asia Pacific region. Especially China and India offer a lucrative opportunity in the Asia Pacific region for the Alcoholic beverages manufacturers. Latin America & Middle East region is projected to show a high potential in the alcoholic beverages market due to the rising disposable income of some of the countries.
Key Findings:
Europe dominates the alcoholic beverages market followed by North America Asia-Pacific is the fastest growing region in the alcoholic beverages market. India and China has shown huge potentials for alcoholic beverages market share during reviewed period of 2017-2023 About Market Research Future:
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