The global premium alcoholic Beverages market is set to grow at a CAGR of 9.3% and top a valuation of US$ 1.7 Trillion by 2032. Rising consumption of premium alcoholic beverage due to their optimal quality and introduction of novel premium alcoholic beverages brands worldwide are some of the factors providing impetus to the growth of the market.
Due to growing disposable income, increased awareness of the advantages of wine consumption, and a sharp increase in the number of wine drinkers worldwide, the demand for premium alcoholic beverages has increased at a healthy rate over the years and is expected to continue during the forecast period.
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Similar to this, millennials’ rising desire for a variety of luxury alcoholic drinks like beer, rum, and wine will present a wide range of opportunities for producers of these drinks during the forecast period.
Additionally, the simple access to luxury alcoholic beverages through online buying platforms will increase sales of these beverages during the course of the assessment period.
Key Takeaways from Market Study
- The premium alcoholic beverages market size reached US$ 11.4 Bn in 2022.
- By alcohol type, whiskey is likely to be the most remunerative segment in the global premium alcoholic beverages during the forecast period.
- Based on sales channel, B2C to witness highest premium alcoholic beverages sales through 2032.]
- The U.S. will continue to remain the most dominant premium alcoholic beverages market during the forecast period.
- Demand for premium alcoholic beverages to rise at a robust pace in Japan over the assessment period.
“Growing consumer preference for nutritional beverages with optimum quality will create lucrative growth opportunities for the premium alcoholic beverages manufacturers during the forthcoming years,” says a Future Market Insights analyst.
Competitive Landscape
Key premium alcoholic beverages are constantly focusing adopting various strategies such as new product launches, advertisements, price reduction, partnerships to gain a competitive edge in the global market. For instance,
- In 2021, Dos Equis, a Heineken USA brand, launched a Hard Seltzer named as Dos Equis Ranch Water, which is inspired by the sparkling mineral water, classic West Texas tequila, and lime. The Dos Equis brand has become the largest import brand in Texas with 16.1% growth in the past year.
Key Companies Profiled in Premium Alcoholic Beverages Market are Bacardi Limited, Diageo Plc, Pernod Ricard SA, Gruppo Campari, The Brown-Forman Corporation, The Edrington Group, Heineken N.V., Anheuser-Busch Companies, LLC, Carlsberg A/S, Miller Coors, Others
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Premium Alcoholic Beverages Market by Category
By Alcohol Type:
- Beer
- Wine
- Whiskey
- Gin
- Vodka
- Rum
- Others
By Packaging:
- Bottles
- Can
- Jars
- Tins
- Others
By Sales Channel:
- B2B/Direct
- B2C/Indirect
By Application:
- Household Segment
- Hospitality Industry
- Others
Frequently Asked Questions
- What is the current size of premium alcoholic beverages industry?
- At what CAGR is the market expected to expand through 2032?
- How was the performance of premium alcoholic beverages over the past half-decade?
- What is the projected valuation for premium alcoholic beverages by 2032?
- Who are the key players operating in the market?
- Which are the top countries driving the premium alcoholic beverages market demand?
- What are the key factors affecting the premium alcoholic beverages market growth?
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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