Alcoholic Beverages Market Share, Size, Trends, Industry Analysis Report, By Type (Beer, Wine, Distilled Spirits, Other); By Distribution Channel; By Region; Segment Forecasts, 2021 - 2028

Alcoholic Beverages Market Share, Size, Trends, Industry Analysis Report, By Type (Beer, Wine, Distilled Spirits, Other); By Distribution Channel; By Region; Segment Forecasts, 2021 - 2028

The global alcoholic beverages market size is expected to reach USD 2,797.05 billion by 2028 according to a new study by Polaris Market Research. The report “Alcoholic Beverages Market Share, Size, Trends, Industry Analysis Report, By Type (Beer, Wine, Distilled Spirits, Other); By Distribution Channel; By Region; Segment Forecasts, 2021 – 2028” gives a detailed insight into the current market dynamics and provides analysis on future market growth.

The global industry is driven by prime factors such as the increasing number of breweries and wineries outlets, changing preference of consumers towards the drinks, especially for premium and super-premium drinks, rising trend of socializing and organizing parties among youngsters, rapid urbanization, and inclinations towards flavored alcohol and mixed drinks.

Furthermore, there is an increase in the lifestyle standards, young adult demographic, rise in disposable income, and increased consumer demand for premium/super-premium products. According to the study published by the Health Careers, in 2018, the sale of the drinks increased by 5.1%, and the average American consumes 2.3 gallons of alcohol yearly.