Drink which contains more than a minimal amount of ethyl alcohol or ethanol (CH3CH2OH) is known as alcoholic beverage. Alcoholic beverages are classified into three general classes, namely, beer, wine, and spirit. All grades of alcoholic beverages are produced through anaerobic fermentation of plant-derived carbohydrate materials such as fruits, berries, grains, plant saps, tubers, honey, and yeast.
The global market for alcoholic beverages is full of valuable opportunities. The key drivers for this market include increasing global young-adult demographic as well as increase in disposable income of the consumers. The demand for alcoholic beverages increases with changing taste and preferences and due to this fact, innovation and new product development plays an important role and act as a growth driver for this industry. Advancement in the distribution channels such as availability of separate counter for females, outlet on airports and online sales, moreover, growing tourism sector is another major driver for the growth of alcoholic beverage market.
Consumption of alcoholic beverages in a limited quantity is even associated with some health benefits such as prevention from cold and reduced risk of cardiovascular diseases. Drinking red wine reduces the risk of heart diseases and burns fat. As a result, introduction of healthier varieties of beer and spirits could be a lucrative opportunity for the alcoholic beverages market.
Based on the product type, alcoholic beverages can be segmented into:
Earlier beer used to be the major alcoholic beverage category as compared to wine and distilled spirits. However, in recent years, beer has been losing its market share to spirits. At present, more than 45 percent of the total alcohol is consumed in the form of spirits and this class holds the highest share in the global market of alcoholic beverages. Increasing demand of premium and super premium whiskey is supposed to contribute in high stability and growth of the distilled spirits market.
Based on distribution channel, the alcoholic beverages market can be segmented into:
The marketing strategies of the alcoholic beverages market has changed a lot. According to WHO, the alcoholic beverages are marketed not solely through the traditional broadcast media (such as radio and television), but also by direct marketing technologies such as the internet and podcasts. Furthermore, by featuring alcoholic drinks in the entertainment sector such as films and songs, producers attracts the young people for the use of alcohol.
Alcoholic beverages market outlook-
Alcoholic beverages market challenges-
The changes in the climate condition leads to decrease in the yield of the crop, thereby, increasing raw material prices with strict governmental regulations is one of the major challenge in the growth of the alcohol industry. Availability of substitute products and the legalization of marijuana especially in the US, could also hinder the growth of this market.
Key Players in the Global Alcoholic Beverages Market
Major companies are now adopting the merging strategies to sustain the intense competition in this market. Innovations and new product development in the manufacturing of flavored wine, vodka, beer, and cocktail such as wine based cocktails, vintage cocktails, and exotic spirits could largely drive the market growth.
Some key players in the global alcoholic beverages market include Anheuser-Busch InBev SA/NV, Bacardi Limited, Beam Suntory Inc., Constellation Brands Inc., Diageo Plc, Heineken Holding NV, Molson Coors Brewing Co., Pernod Ricard SA, SABMiller Ltd., and Carlsberg group.
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
Coherent Market Insights desk research is based on a principle set of research techniques:
Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:
Preliminary Data Mining
The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.
Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.
Coherent Statistical model
We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:
Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.
This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:
The primary research is conducted with the ecosystem players including, but not limited to:
Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.[email protected]
Talk to our research consultant to design an exclusive report as per your research needs.
We aim to fulfil client's research demands with tailored research solutions.
We aim to provide research studies in quickest turnaround time and in a much cost effective manner.
We cover each industry from supply and demand side with an aim to provide a most holistic research study.
We strive to provide most accurate and reliable research findings in our research reports.