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The global alcoholic drinks market size was valued at USD 2.8 billion in 2022 and is expected to reach 16.8 billion by 2032 at a CAGR of 19.3% from 2023 to 2032.
Alcohol is made from the fermentation of grains, fruits, or other plants. Alcohol is a central nervous system depressant, which means it slows down the body’s functions. It can cause slurred speech, unsteady walking, and vomiting. Drinking too much alcohol can lead to blackouts, coma, and death.
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Key Trends
The key trends in alcohol technology are as follows:
1. The use of enzymes to improve the efficiency of alcohol production.
2. The use of fermentation inhibitors to prevent spoilage and improve alcohol yield.
3. The use of new strains of yeast that are more resistant to alcohol production.
Key Drivers
There are a number of key drivers that have contributed to the growth of the alcohol market.
Firstly, the rise in disposable incomes and the increased availability of credit have meant that more people are able to afford to purchase alcohol.
Secondly, the growth of the hospitality industry has led to more people consuming alcohol in bars and restaurants.
Finally, the increased availability of alcohol online and in supermarkets has made it more convenient for consumers to purchase alcohol.
Restraints & Challenges
The alcohol market is highly competitive and fragmented, with a large number of small and medium-sized players. The key restraints and challenges in the alcohol market include the following:
1. Intense competition: The alcohol market is highly competitive, with a large number of small and medium-sized players. This intense competition makes it difficult for companies to differentiate their products and gain a competitive advantage.
2. Low margins: The alcohol industry is characterized by low margins. This makes it difficult for companies to invest in research and development and marketing activities.
3. Stringent regulations: The alcohol industry is subject to stringent regulations, which vary from country to country. These regulations make it difficult for companies to operate in multiple countries and to expand their businesses.
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Market Segments
The alcohol market is segmented by type, distribution channel, and region. By type, the market is classified into beer, distilled spirits, wine, and others. Based on distribution channel, it is bifurcated into convenience stores, on-premises, liquor stores, and others. Region-wise, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World.
Key Players
The global alcohol market includes players such as United Spirits Limited, Carlsberg A/S, Jagatjit Industries, Mohan Meakin, Globus Spirits, Allied Blenders and Distillers Pvt., SAB Miller, Radico Khaitan Limited, Khemani Group, SOM Distilleries and Breweries, and others.
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Research Scope
- Scope – Highlights, Trends, Insights. Attractiveness, Forecast
- Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
- Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
- Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
- Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
- Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis.
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