Alcoholic – Beverages Global Market Report, Growth Demand, Outlook Scope By 2032

The Alcoholic – Beverages Global Market Report 2023 by The Business Research Company, provides alcoholic – beverages market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Alcoholic – Beverages Global Market Report 2023, the market size is expected to grow from $530.85 billion in 2022 to $569.58 billion in 2023 at a compound annual growth rate (CAGR) of 7.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global alcoholic – beverages market is expected to grow to $731.84 billion in 2027 at a CAGR of 6.5%.

The world’s population is growing and is expected to reach 10 billion by 2050. An increase in the population creates more demand for alcoholic beverages. Crop production, farming activities, and trade volumes will have to increase in order toto meet the increased population. Therefore, companies in this market are expected to benefit from rising demand for alcoholic – beverages products due to the rising population during the forecast period.

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The alcoholic – beverages market is segmented:

1) By Type: Beer, Wine And Brandy, Spirits

2) By Distribution Channel: Off-Trade Channels, On-Trade Channels

3) By Category: Mass, Premium

Alcoholic beverage manufacturers are now offering ready-to-mix hybrid beverages to cater to changing consumer tastes and preferences. Hybrid beverages are a blend of alcoholic drinks from multiple beverage categories. They are prepared by using unique flavour combinations, ingredients, and production methods from multiple drinks. For example, producing spirits or beers in a wine barrel to give them a distinct taste. Hybrid beverages are particularly evident in the spirit category, with products such as beer mixed with rum and tea mixed with vodka. Some of the popular hybrid beverages on the market include Malibu Red (rum and tequila), Kahlua Midnight (rum and Kahlua), and Absolut Tune (vodka and sparkling wine).

The alcoholic – beverages market report table of contents includes:

1.Executive Summary