Alcoholic drinks: Key market research findings
- Increase in number of product sites globally
- The beer segment currently dominates the market
- Key vendors—AB InBev, Heineken, Carlsberg, and Bacardi
Technavio’s market research analysts estimate the global alcoholic drinks market to grow at a CAGR of around 1% between 2016 and 2020. An increase in the number of wineries, breweries and distilleries is the primary driving force behind the growth of the market. The increase in the demand for locally produced alcoholic beverages is augmenting the growth rate of new production sites. Currently, EMEA dominates the global alcoholic drinks market by accounting for almost 50% of the overall market share. Steady growth in Eastern Europe coupled with an increased consumption of beer in Africa are some of the factors that will propel growth in the alcoholic drinks market in this region during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the alcoholic drinks segment based on category.
“An upsurge in the number of health conscious individuals is an ongoing trend in the market. Lately, consumers are switching to low-calorie alcoholic drinks, especially spirits such as rye whiskey, due increased concerns about health and skin. As a result, pre-mixed cocktails, or skinny drinks, with low-calorie levels are more widely available in the market. For instance, Skinnygirl cocktail owned by Beam is a naturally sweetened, low-calorie cocktail brand that is gaining tremendous popularity in the US,” says Vijay Sarathi, Lead Analyst, Food & Beverages, Technavio Research.
Currently, the beer segment accounts for more than 75% of the total market share to dominate the alcoholic drinks market across the globe. Changing lifestyles and rising disposable incomes are some of the factors fueling the market’s growth in developing markets such as India, China, and Vietnam. Furthermore, improvement in terms of the quality of beer and improvised marketing and advertising strategies and approaches are expected to drive the global beer market during the forecast period.
The key vendors in the market include AB InBev, Heineken, Carlsberg, and Bacardi. The global alcoholic drinks market is highly fragmented and is primarily dominated by numerous small- and large-sized providers. In this market, the vendors compete on the basis of product differentiation, portfolio, and pricing to gain maximum market prominence during the forecast period. To survive and succeed in this market, the vendors have to distinguish their products and service offerings through a clear and unique value proposition.
A more detailed analysis is available in the Technavio report, Global Alcoholic Drinks Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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