Global Alcoholic Beverages Market: Beer Tops Sales and Consumer Preference, observes TMR
The global alcoholic beverages market has been witnessing consistent growth over the years, despite fluctuating economic conditions around the world. Transparency Market Research, in a report titled “Alcoholic Beverage Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015–2021”, notes that sales are likely to remain steady in the coming years as well. The growing economic prosperity in developing countries, strengthening distribution channels and purchase channels, and evolving consumer lifestyles are responsible for the expansion of the alcoholic beverages market.
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The key product categories of alcoholic beverages are beer, wine, and spirits, which include vodka, whiskey, and rum. Beer is by far the most commonly consumed alcoholic beverage, driven mainly by aggressive advertising and marketing activities and constant improvement in quality. TMR finds that the top six beer makers account for over half the global market for alcoholic beverages, hinting at the considerable growth of this product segment.
On the basis of geography, the report studies North America, Europe, Asia Pacific and the Rest of the World as the key segments of the global alcoholic beverages market. Although Europe and North America are mature markets, they continue to be major revenue generators in the market. However, companies are looking to invest in markets where the unmet need is higher and where there is immense scope for growth. Asia Pacific is one of the most lucrative markets in this respect, owing mainly to the rising consumption of alcohol among the urban youth in countries such as China and India. Eastern Europe and Africa are also blossoming markets for alcoholic beverages thanks to a steady pace of Westernization and an increase in the youth population.
There are several international and local players operating in the global alcoholic beverages market, making it a highly competitive and lucrative one. Product differentiation and competitive pricing are two of the key strategies adopted by companies to stay on top and garner a larger share of the consumer base. The launch of new products to cater to the health-conscious consumer is a recent trend noted in the alcoholic beverages market. Heineken, Constellation Brands, Bacardi, Treasury Wine Estates, Carlsberg, Accolade Wines, Diageo, Beam Suntory, E. & J. Gallo Winery, Anheuser-Busch, SABMiller, China Resource Enterprise, The Wine Group, Torres, and Pernod Ricard are some of the more prominent names in the alcoholic beverages market.
These players are studied in depth, highlighting their strengths and weaknesses in addition to the threats and opportunities in store. The key strategies and collaborations in the recent past have been evaluated to understand their impact on the performance of a company and its financial standing. The latest product portfolio of a given company has also been studied to offer readers a clear picture of the competition in the alcoholic beverages market.