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Alcoholic - Beverages Global Market Report 2021: COVID 19 Impact and Recovery to 2030

ReportLinker
·3-min read

Major companies in the alcoholic beverages market include Anheuser Busch InBev; Heineken; Diageo; Carlsberg Group and Pernod Ricard. The global alcoholic - beverages market is expected to grow from $499.

New York, Feb. 01, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Alcoholic - Beverages Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06018943/?utm_source=GNW
74 billion in 2020 to $546.15 billion in 2021 at a compound annual growth rate (CAGR) of 9.3%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $735.83 billion in 2025 at a CAGR of 8%.

The alcoholic beverages market consists of sales of alcoholic beverages by entities (organizations, sole traders and partnerships) that produce alcoholic beverages through the fermentation process and that produce distilled alcoholic beverages. The companies in the alcoholic beverages industry process raw materials into alcoholic beverages, package and distribute them through various distribution channels to both individual customers and commercial establishments. The alcoholic beverages market is segmented into beer; wine and brandy and spirits.

Asia Pacific was the largest region in the global alcoholic - beverages market, accounting for 42% of the market in 2020. North America was the second largest region accounting for 24% of the global alcoholic - beverages market. Middle East was the smallest region in the global alcoholic - beverages market.

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 flavor 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 in the market include Malibu Red (rum and tequila), Kahlua Midnight (rum and Kahlua) and Absolut Tune (vodka and sparkling wine).

The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the alcoholic - beverages market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia. Food and beverage manufacturers depend on supply of raw materials from domestic and international suppliers. As many governments restricted the movement of goods across countries and locally, manufacturers had to halt production due to lack of raw materials. Also, restrictions on trade of non-essential goods and fear of contamination through manufacturing facilities contributed to the decline. The outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the alcoholic - beverages market will recover from the shock across the forecast period as it is a ’black swan’ event and not related to ongoing or fundamental weaknesses in the market or the global economy

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

Read the full report: https://www.reportlinker.com/p06018943/?utm_source=GNW

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