New York, April 21, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Alcoholic - Beverages Global Market Report 2023" - https://www.reportlinker.com/p06284447/?utm_source=GNW
The global alcoholic - beverages market grew from $530.85 billion in 2022 to $569.58 billion in 2023 at a compound annual growth rate (CAGR) of 7.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The alcoholic - beverages market is expected to grow to $731.84 billion in 2027 at a CAGR of 6.5%.
The alcoholic beverages market consists of sales of ales, lagers, stouts and porters, malts, still wine, sparkling wine, cognac, armagnac, whiskey, vodka, rum, tequila, gin, and other alcoholic beverages.The companies in the alcoholic beverages industry process raw materials into alcoholic beverages, package and distribute them through various distribution channels to both on-trade and off-trade establishments.
Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.The value of goods in this market includes related services sold by the creators of the goods.
The alcoholic beverages market is segmented into beer, wine and brandy, and spirits.
An alcoholic beverage is a potable liquid that contains ethanol which is prepared by fermenting fruits, grains, and others.
The Asia-Pacific was the largest region in the alcoholic - beverages market in 2022.Western Europe was the second-largest region in the alcoholic - beverages market.
The regions covered in the alcoholic - beverages market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main types of alcoholic beverages are beer, wine and brandy, and spirits.Beer is an alcoholic beverage produced by extracting raw materials with water, boiling (usually with hops) and fermenting.
The products are made available through off-trade channels and on-trade channels. The various categories are mass, and premium.
The world’s population is growing and is expected to reach 10 billion by 2050.An increase in the population creates more demand for alcoholic beverages.
Crop production, farming activities, and trade volumes will have to increase in order toto meet the increased population. Therefore, companies in this market are expected to benefit from rising demand for alcoholic - beverages products due to the rising population during the forecast period.
The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the alcoholic - beverages market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally.COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty breathing.
The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and has spread globally, including Western Europe, North America, and Asia.Food and beverage manufacturers depend on the supply of raw materials from domestic and international suppliers.
As many governments restricted the movement of goods across countries and locally, manufacturers had to halt production due to a lack of raw materials.Also, restrictions on the trade of non-essential goods and fear of contamination through manufacturing facilities contributed to the decline.
The outbreak had a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the alcoholic beverages market will recover from the shock over the forecast period as it is a "black swan" event and not related to ongoing or fundamental weaknesses in the market or the global economy.
Alcoholic beverage manufacturers are now offering ready-to-mix hybrid beverages to cater to changing consumer tastes and preferences.Hybrid beverages are a blend of alcoholic drinks from multiple beverage categories.
They are prepared by using unique flavour combinations, ingredients, and production methods from multiple drinks.For example, producing spirits or beers in a wine barrel to give them a distinct taste.
Hybrid beverages are particularly evident in the spirit category, with products such as beer mixed with rum and tea mixed with vodka. Some of the popular hybrid beverages on the market include Malibu Red (rum and tequila), Kahlua Midnight (rum and Kahlua), and Absolut Tune (vodka and sparkling wine).
The countries covered in the alcoholic - beverages market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The alcoholic beverages research report is one of a series of new reports that provides alcoholic beverages statistics, including alcoholic beverages industry global market size, regional shares, competitors with alcoholic beverages share, detailed alcoholic beverages segments, market trends and opportunities, and any further data you may need to thrive in the alcoholic beverages industry. This alcoholic beverage research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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