Premium Alcoholic Beverage Market is anticipated to show at a lucrative growth at a CAGR of around 7.0% during the forecast period. An increase in the youth population, rising per capita disposable income, and innovation to the alcoholic product range are some of the major factors for the growth of the market. Moreover, shifting toward online sales channels is also providing access to the premium beverage market. The alcohol market is a mature market and as per OMR analysis, it is expected to grow at a CAGR of around 3% during the forecast period and rising demand of premium alcoholic beverage is one of the key factors for the growth of the market as it is augmenting at a CAGR of around 7.0% during the forecast period.
However, increasing preference for non-alcoholic beverages, health-related issues due to high consumption of alcohol are some of the major restraining factors for the market growth. Moreover, the impact of the COVID-19 on alcoholic consumption is also coved in the report. During the lockdown, restaurants, pubs, sports venues, beaches, and other tourist places have been shut down which are the major places of retail point of sales of premium alcohol. Moreover, as the people were more residing in their homes during the lockdown, the online sales channel has experienced a boom in the alcohol orders. Even in some countries, alcohol consumption has been increased during the lockdown. For instance, as per a survey by Opinium for Direct Line Life Insurance, with a sample of 2,000 UK’s adults, 50% of the drinkers have increased in the number of days of consuming alcohol per week whereas around a third of the responders have reported an increase in binge drinking. However, the type of alcohol is not mentioned in the survey.
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Premium Alcoholic Beverage Market Segmentation
By Type
- Beer
- Wine
- Spirit
Premium Alcoholic Beverage Market by P
- Canned
- Glass Bottle
- Others
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Regional Analysis
- North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
Company Profiles
- Anheuser-Busch Inbev SA/NV
- Asahi Group Holdings, Ltd.
- Bacardi, Ltd.
- Bronco Wine Co.
- Brown-Forman Corp.
- Carlsberg Breweries A/S
- Constellation Brands Inc.
- Davide Campari-Milano S.p.A
- DGB (Pty) Ltd.
- Diageo PLC
- Halewood International, Ltd.
- Heineken Holding N.V.
- Kirin Holdings Co. Ltd.
- Molson Coors Brewing Co.
- Pernod Ricard SA
- Suntory Holdings Ltd.
- The Boston Beer Co, Inc.
- The Wine Group, Inc.
- United Breweries, Ltd.
- Wuliangye Yibin Co. Ltd.
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