NEW YORK, Feb. 3, 2016 /PRNewswire/ -- The increasing urbanization and growing disposable incomes are the key growth drivers for the global alcoholic drinks market. The increasing frequency of celebration is encouraging the consumers to consume alcoholic drinks in large quantities. The increasing consumption of premium and super premium alcoholic drinks is propelling the growth of the global market, in terms of value. The market for craft beer has been up surging significantly, and is also expected to grow during the forecast period. The market for flavored alcoholic drinks has been observed to grow during the past few years. The increasing taxation on alcoholic beverages and restrictions on their advertisement and promotion are the key restraints, affecting the growth of the market.
The beer, cider & FABs segment dominated the global alcoholic drinks market in 2014. Among the various regions, Europe accounted for the major share in the global market during the same year. The supermarkets and hypermarkets segment dominated the global sales of alcoholic drinks among the various distribution channels.
The On-premise consumption refers to locales, which serve alcoholic beverages for the consumption at places, such as bars, restaurants. Off-site on the other hand refers to places from where alcoholic drinks can be purchased, but not consumed. The on-site consumption of alcoholic beverages has been declining in most of the developed countries. The increasing tax on dining and drinking is discouraging consumers to opt for on-premise consumption. Although, minimum alcohol purchase age bar for on-site distribution channel is low in several countries, it is not having much impact on the consumption pattern through this distribution channel.
With the upsurge in high net worth individuals, the consumption of premium and super premium brands is also increasing. This is leading to increase in value sales of the market. The consumption of premium brands is especially observed in case of spirits. The growing population of HNI individuals in Brazil, Russia, India, and China is leading to increased consumption of premium spirits, which is driving the growth of the premium spirits market. Most of the spirits consumed in these countries are imported from other international markets. The imported spirits market in China grew by 250% in 2012 over 2001. Whiskey and Cognac are the key growing categories, among the premium and super premium alcoholic drinks.
Several alcoholic drinks, such as spirits, wine, cider, and beer are available in various flavors in the market. The consumers which have newly become eligible for the purchase of alcoholic drinks are the most prospective buyers of flavored alcoholic beverages. They are not very much brand and taste loyal, and want varieties in their drink. This makes them an important market segment based on age. Spirits have been the most popular among flavored alcoholic drinks. The addition of flavor in beer moderated the declining global sales of the segment in 2012, which is why the flavored segment is offering growth opportunities for the global market. Alcoholic drinks are available in soft and strong flavors ranging from fruit, lime, and blueberry. .
The global alcoholic drinks market is highly consolidated, where the top two players account for a share of over 60%. The key players in the global alcoholic drinks market are Anheuser Busch-inBev, Miller Coors, Heineken Holdings N.V., Carlsberg A/S, Diageo PLC, Grupo Modelo, SABMiller PLC, Bacardi Limited PLC, Olvi PLC, Tsingtao Brewery Company Limited, Beijing Yanjing Brewery Company Limited, and Kirin Holdings Company Limited.
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