The Launch Of New Beer And Spirit Variants Is Likely To Generate A Lucrative Potential For The Expansion Of The Alcoholic Beverages Market

 

Alcoholic Beverages

Alcoholic beverages are distilled drinks or liquor made from sugar taken from fruits, berries, and grains. These drinks contain more than a trace of ethyl alcohol or ethanol. They are divided into three categories: beer, wine, and spirits. The growing adult and young population, as well as customers' high disposable income, are the primary factors driving market expansion. Because of the strong demand for alcoholic beverages, as well as shifting tastes and preferences, product innovation is a critical aspect in the industry's growth. Advances in distribution methods, such as the availability of a separate counter for females, airport outlets, internet sales, and a developing tourism industry, are some of the drivers driving market expansion.

 

Consumption of alcoholic beverages in moderation has been linked to a lower risk of cardiovascular disease. Furthermore, red wine consumption lowers the risk of heart disease and burns fat. As a result, the launch of new beer and spirit variants is likely to generate a lucrative potential for the expansion of the Alcoholic Beverages Market. According to reports, Europe has the biggest population consumption of beer. France leads the alcoholic beverage market in this region, followed by Germany, Italy, the United Kingdom, and others. Alcohol consumption is also high in this region's economies such as Estonia, Belarus, and Lithuania. According to World Bank Group, in 2015, Belarus consumed 17.1 litres per person per capita as compared to world average of 6.3 litres per person per capita.

 

To maintain their market leadership, major players are focusing on strategies such as merger and acquisition. The market is expected to grow due to innovations and new product development in the manufacturing of flavoured wine, vodka, beer, and cocktails such as wine-based cocktails, vintage cocktails, and exotic spirits. Anheuser-Busch InBev SA/NV, Bacardi Limited, Beam Suntory Inc., Constellation Brands Inc., Diageo Plc, Heineken Holding NV, Molson Coors Brewing Co., Pernod Ricard SA, SABMiller Ltd., and Carlsberg group are key players in the global alcoholic beverages market.

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