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Key regions: Worldwide, United States, Russia, United Kingdom, India
The Alcoholic Drinks market in G20 has been experiencing significant growth and development in recent years.
Customer preferences: Consumers in the G20 countries have shown a strong preference for a wide variety of alcoholic drinks, including beer, wine, and spirits. While beer remains the most popular choice among consumers, there has been a growing demand for premium and craft beers. This trend can be attributed to the increasing consumer interest in unique and high-quality products. Similarly, there has been a shift towards higher-quality wines and spirits, with consumers becoming more knowledgeable and discerning in their choices.
Trends in the market: One of the key trends in the Alcoholic Drinks market in G20 is the rise of craft and artisanal products. Craft beer, in particular, has gained significant popularity in recent years. Consumers are increasingly seeking out unique and locally-produced beers, which has led to the growth of small, independent breweries. This trend can be attributed to the desire for authenticity and the preference for supporting local businesses. Similarly, there has been a growing interest in craft spirits and boutique wineries, as consumers look for products that offer a more personalized and artisanal experience. Another trend in the market is the increasing demand for healthier alcoholic beverages. With a growing focus on wellness and health-consciousness, consumers are seeking out low-alcohol options, such as light beers and low-calorie wines. Additionally, there has been a rise in the consumption of organic and natural alcoholic drinks, as consumers become more aware of the environmental and health impacts of their choices. This trend is driven by the desire for healthier options that still allow for indulgence and enjoyment.
Local special circumstances: The Alcoholic Drinks market in G20 is influenced by various local factors. For example, in countries with a strong beer-drinking culture, such as Germany and the Czech Republic, beer consumption remains high and is deeply ingrained in the local traditions and social customs. In contrast, countries with a strong wine culture, such as France and Italy, have a higher demand for wines and are known for their production of high-quality varietals. Similarly, in countries with a long history of distilling spirits, such as Scotland and Ireland, there is a strong preference for whiskey and other traditional spirits.
Underlying macroeconomic factors: The growth and development of the Alcoholic Drinks market in G20 can be attributed to several macroeconomic factors. Firstly, the rising disposable incomes in many G20 countries have led to an increase in consumer spending on discretionary items, including alcoholic beverages. Additionally, the growth of the middle class in emerging economies has created new markets for alcoholic drinks, as these consumers seek out new experiences and products. Furthermore, the expanding tourism industry in many G20 countries has contributed to the growth of the Alcoholic Drinks market, as tourists often indulge in local beverages and contribute to the overall demand. Finally, the increasing globalization and interconnectedness of markets have allowed for the expansion of international brands and the exposure of consumers to a wider range of alcoholic drinks. Overall, the Alcoholic Drinks market in G20 is experiencing growth and development driven by changing consumer preferences, the rise of craft and artisanal products, the demand for healthier options, local cultural factors, and underlying macroeconomic factors.
Data coverage:
The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.
Modeling approach:
Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on alcoholic beverages, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.
Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.
Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)