Sarasota, FL -- (SBWIRE) -- 03/23/2019 -- According to the report, the global alcoholic beverages market was valued at around USD 1263.19 billion in 2017 and is expected to reach approximately USD 1629 billion by 2024, growing at a CAGR of around 3.7% between 2018 and 2024.

An alcoholic beverage is a liquor generated through fermentation of sugar and yeast. Ethanol is the most common alcohol found in different alcoholic beverages such as wine, beer, and whiskey. Ethanol is usually obtained by the fermentation of various plants such as wheat, corn, barley, etc. These plants are rich sources of carbohydrates. Ethanol does not contain essential nutrients, but it provides great energy. Alcoholic beverages can be produced in two forms such as distilled and undistilled. The most common types of distilled alcohols are vodka and whiskey. There are many different recipes practiced worldwide for producing alcoholic beverages.

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The growth of the alcoholic beverages market is primarily driven by growing population, increasing disposable income, and new product launches by the alcoholic beverage manufacturers. Moreover, busy lifestyles and changing consumer spending patterns are increasing the demand for alcoholic beverages in developed countries. This, in turn, is anticipated to fuel the growth of the global alcoholic beverages market over the forecast period. The growing urban population in emerging countries such as China and India coupled with increased spending on outdoor parties and celebration are the primary factors projected to fuel the growth of the alcoholic beverages market during the forecast period.

Based on product type, the market is classified into beer, wine, and spirit. Beer is usually produced from barley. The beer segment accounted for the dominant market share in 2017, in term of volume. The wine segment is anticipated to exhibit rapid growth over the forecast period owing to its increasing popularity and advancements in the wine production. Based on the packaging, the market is classified into tins, glass bottles, and plastic bottles. Glass packaging segment accounted for the significant market share in 2017, in terms of revenue. Since glasses are recyclable, the majority of beverage manufacturers use glass bottles for packaging. However, the small and medium scale manufacturers are adopting alternative material such as plastic and aluminum for beverage packaging. Based on the sales channel, the market is classified into hotels/bars/restaurants, online retailers, specialty stores, and convenience stores. Specialty stores and convenience stores are the dominant sales channels through well organized and widespread network in the emerging and developed countries.

North America held the major market revenue share in the global alcoholic beverages market in 2017. A large number of bars and pubs, high standard of living, and increased consumption of alcoholic beverages by the young-adult population are the main factors that are anticipated to drive the growth of the North America alcoholic beverages market. Asia Pacific region is projected to exhibit substantial growth over the forecast period owing to rapid urbanization coupled with rising disposable income. Europe is projected to be the highest growing alcoholic beverages market owing to the increasing consumption of beer and wine.

The principal players are focusing on new product development and acquisition strategies in order to produce innovative products and expand their business internationally. Some of the key players included in the global alcoholic beverages market report are Constellation Brands Inc., Bacardi Limited, Beam Suntory Inc., Anheuser-Busch InBev SA/NV, Molson Coors Brewing Co., Diageo Plc, Heineken Holding NV, Brown-Forman Corp., SABMiller Ltd., United Spirits Ltd., Asahi Breweries Ltd., Carlsberg A/S, China Resources Beer Company Limited, Treasury Wine Estates, Tsingtao Brewery Co. Ltd., Thai Beverage Public Co., Ltd., Rémy Cointreau SA, Accolade Wines Ltd., Pernod Ricard SA, and The Wine Group.

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This report segments the global alcoholic beverages market as follows:

Global Alcoholic Beverages Market: Type Segment Analysis

Wine
Beer
Spirit

Global Alcoholic Beverages Market: Packaging Segment Analysis

Tins
Glass Bottles
Plastic Bottles

Global Alcoholic Beverages Market: Sales Channel Segment Analysis

Hotels/Bars/Restaurants
Online Retailers
Specialty Stores
Convenience Stores

Global Alcoholic Beverages Market: Regional Segment Analysis

North America
The U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa

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