With 10.74% CAGR, Alcoholic Beverages Market Size to Worth USD 5,716.2 billion by 2032 | Industry Share and Trends

Key companies covered in alcoholic beverages market report are Anheuser-Busch Inbev, Asahi Group, Bacardi, Brown Forman, Carlsberg, and Others

PUNE, INDIA, March 12, 2025 /EINPresswire.com/ -- The alcoholic beverages market was valued at USD 2,313.2 billion in 2023 and is expected to expand from USD 2,527.0 billion in 2024 to USD 5,716.2 billion by 2032, reflecting a CAGR of 10.74% during the period from 2024 to 2032. In 2023, the Asia Pacific region led the market, accounting for 40.44% of the global share. Additionally, the U.S. alcoholic beverages market is anticipated to experience substantial growth, with an estimated value of USD 702.96 billion by 2032, fueled by increasing consumption among urban consumers.

Alcoholic beverages are created through the fermentation of grains, fruits, berries, sugars, and other ingredients like tubers, plant saps, honey, and milk. They can also undergo distillation to reduce the water content and increase the alcoholic strength of the final product.

Fortune Business Insights™ offers these insights in its comprehensive research report titled “Alcoholic Beverages Industry Share, Growth, Trends, and Forecast Report, 2024-2032.”

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➤ Report Scope & Segmentation:

• Market Size Value in 2024: USD 2,527.0 billion
• Market Size Value in 2032: USD 5,716.2 billion
• Growth Rate: CAGR of 10.74%% (2024 to 2032)
• Base Year: 2023
• Historical Data: 2019-2022
• Years Considered for the Study: 2019-2032
• No. of Report Pages: 221
• Segments Covered: By Type (Beer, Wine, Distilled Spirits, and Others), By Distribution Channel (Retail and Food Service)
• Regional Scope: North America, Europe, Asia Pacific, Central & South America, Middle East & Africa
• Growth Drivers: Growing Popularity of a Variety of Hybrid Alcohol Beverages to Aid Market Growth | Increased Alcohol Consumption among Young Adults Due to Rise in Disposable Income Drives Market Growth

➤ List of Key Players Mentioned in the Report:
• Anheuser-Busch Inbev (BUD) (Belgium)
• Asahi Group (Japan)
• Bacardi (Bermuda)
• Brown Forman (U.S.)
• Carlsberg (Denmark)
• Constellation Brands (U.S.)
• Diageo (U.K.)
• Heineken (Netherlands)
• Pernod Ricard (France)
• Suntory (Japan)

➤ Segmentation Analysis:

Rising Number of Distilleries and Distilled Spirits to Dominate Market Share and Fuel Growth
The distilled spirits segment holds the largest market share based on type. The increasing number of distilleries drives this growth. Social media exposure has made it easier for consumers to explore new spirit categories and discover local distilleries.
Beer accounts for the second-largest share of the market. The beer industry is highly competitive, with numerous international and local players vying for market dominance. The U.S. is a leading global exporter of beer. The influence of Western and modern culture has encouraged younger generations to consume alcoholic beverages, particularly beer. In South Asian countries, beer is the most popular alcoholic drink among young adults.

Food Service Segment Leads Due to Increased Socializing
The food service sector holds the largest share by distribution channel, driven by a post-pandemic rise in social gatherings and events, which has boosted alcohol consumption and sales. Many individuals, especially young adults, are transitioning from beer to brown liquors such as scotch, brandy, rum, and whisky.

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➤ Key Factors Driving the Global Alcoholic Beverages Market

The global alcoholic beverages market is primarily driven by several key factors, including changing consumer preferences, increasing disposable incomes, and the growing popularity of premium and craft beverages. The rise of experiential drinking culture, particularly among millennials and Gen Z, has led to a surge in demand for innovative and unique alcoholic products. Additionally, the expansion of e-commerce platforms has made alcoholic beverages more accessible to consumers worldwide. The growing trend of socializing at home, especially post-pandemic, has also boosted the consumption of alcoholic beverages. Furthermore, the increasing acceptance of alcohol consumption in emerging markets and the rise of low-alcohol and non-alcoholic alternatives are contributing to market growth.

➤ Potential Growth Opportunities in the Global Alcoholic Beverages Market
The global alcoholic beverages market presents several growth opportunities, particularly in the areas of premiumization, product innovation, and geographic expansion. The demand for premium and craft alcoholic beverages is on the rise, offering manufacturers the chance to cater to discerning consumers willing to pay a premium for high-quality products. The development of low-alcohol and non-alcoholic alternatives is another significant opportunity as health-conscious consumers seek healthier options. Emerging markets in Asia-Pacific, Latin America, and Africa offer substantial growth potential due to increasing urbanization, rising disposable incomes, and changing cultural attitudes toward alcohol consumption. Additionally, the integration of technology in marketing and distribution, such as the use of AI and data analytics, can help companies better understand consumer preferences and optimize their strategies.

➤ Regional Insights:

Growing Demand for Alcohol Among Working Professionals to Drive Asia Pacific Market Growth
The Asia Pacific region holds the dominant share in the alcoholic beverages market. Shifts in the social lives of working professionals have significantly altered drinking and dining habits, playing a key role in the region's market expansion. The steady growth of the market is further fueled by the rising demand for premium alcohol. Increasing incomes, greater purchasing power, and rapid urbanization among middle-class consumers are encouraging them to explore super-premium alcohol options, contributing to the market's upward trajectory. Leading alcoholic beverage manufacturers in Asia Pacific, such as Asahi Group and Suntory Holdings Limited, are actively pursuing mergers, acquisitions, expansions, and product launches to solidify their market presence.

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➤ Recent Major Developments in the Global Alcoholic Beverages Market:

In November 2022, Diageo acquired Balcones Distilling, a prominent Texas-based craft and premium whisky distiller. This strategic move is aimed at securing high-growth brands within rapidly expanding segments, particularly super-premium whiskey.

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Ashwin Arora
Fortune Business Insights™ Pvt. Ltd.
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