Global Alcohol Market is projected to grow at a CAGR of 3.1% during the forecast period.
Major players in the market includes are United Spirits, Radico Khaitan, Mohan Meakin, Tilaknagar, SAB Millier, Jagatjit Industries, SOM Distilleries and Breweries, Allied Blenders and Distillers, Globus Spirits, Khemani Group and Carlsberg.
In the US, Millennials out drank Baby Boomers in 2019. In fact, Wine Voice (a wine lifestyle website) found that 28% of US Millennials drink wine on a daily basis, making them a key focus for the wine category. Rosé is continuing to have a moment, and with category growth reaching 48% in the US over the last 12 months.
The US and Canada are expected to be the only two markets to show volume growth in 2020, both increasing sales by more than 2.5%. In the US, the 2020 volume consumption increase is in keeping with 2019 trends, suggesting Covid-19 has not impacted overall consumer demand. However, gains in retail and ecommerce have not offset ‘heavy losses’ in the ‘more profitable’ on-trade channel.
Mark Meek, CEO of IWSR Drinks Market Analysis, said: “Given the incredibly tough measures the industry has continued to face due to Covid-19, it’s encouraging to see that beverage alcohol in the 19 focus countries is only projected to decline by 8% in 2020, rather than by the double-digit losses originally expected.
Based on type, the market has been segmented into: Grains, Molasses, Fruits and Vegetables. Based on application, the market has been segmented into: IMFL, Beer, Wine, and Country Liquor. Geographically it has been segmented into North America, Europe, Asia-Pacific and Row. Beer is the most consumed alcoholic drink across the globe and contains around 4-7% of alcohol. Europe is the largest market for alcoholic beverages. Europe has the highest per capita consumption of alcohol led by France and is followed by Germany, Italy, UK, and others. Beer represented a 40.1% share of all alcohol sales value in Germany, France, Italy, Spain, the UK, and the Netherlands. North America and Europe are the matured markets with minimal increase in market size. Several markets, including Russia, Australia, Japan and Germany, are expected to see volume sales decline, but this will be less than 5%.
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