Global Alcoholic Beverages Market 2019-2023
About this market
Millennials across the globe are prioritizing quality over price when it comes to purchasing alcohol. This is resulting in an exponential demand for superior and premium alcoholic beverages, thereby driving the global growth of the alcohol beverages market. Moreover, the growing awareness about the harmful effects triggered by the consumption of low-quality alcohol has further increased consumers’ preference toward superior and premium alcoholic beverages. This is one of the key factors driving the growth of the global alcohol beverages market size at a CAGR of more than 3% during 2019-2023.
Significant increase in disposable income
The increase in disposable income of consumers in countries across Europe, APAC, and South America is positively impacting the growth of the global alcohol beverages market size. In 2016, people who fell within high-income brackets were considered to be frequent alcohol consumers in the UK. Also, people in executive positions of any given organization were most likely to consume alcohol regularly.
Health issues associated with alcohol consumption
The onset of various health issues such as cirrhosis of the liver and stomach and liver cancer that is triggered by excessive alcohol consumption is expected to have a negative impact on the growth of this market.
For the detailed list of factors that will drive and challenge the growth of the alcohol beverages market size during 2019-2023, view our report.
The market appears to be fragmented with several players occupying the market share. Companies such as Anheuser-Busch InBev SA/NV and Carlsberg Breweries AS have intensified the competition. Factors such as the rising demand for superior and premium alcoholic beverages and a significant increase in the disposable income of consumers will provide significant growth opportunities for alcohol beverage manufacturers. Anheuser-Busch InBev SA/NV, Carlsberg Breweries AS, Diageo Plc, Heineken NV, and Kirin Holdings Co. Ltd. are some of the major companies covered in this report.
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