Premium/super premium brands growing
The “Global Alcoholic Drinks Market Size, Share, Development, Growth and Demand Forecast to 2020” finds that whiskey and Cognac represented the key growth categories among the premium and super premium alcoholic drinks.
The report, published last December, offers industry insights by segment (Beer, Cider & FABs), by distribution channel (Supermarkets/Hypermarkets, Specialist Retailers, On-Premise, Others) and by geography (North America, Europe, Asia-Pacific, Rest of the World).
Premium and super premium driving value growth
But it’s the increasing consumption of premium and super premium alcoholic drinks that’s driving value growth in the global market.
With the upsurge in high net worth individuals, the consumption of premium and super premium brands is increasing, notes the report. This is leading to an increase in the value of the market.
The consumption of premium brands is especially observed in the case of spirits. The growing population of high net worth individuals in Brazil, Russia, India and China is leading to increased consumption of premium spirits and driving growth of the premium spirits market. Most of the spirits consumed in these countries are imported from other international markets.
Craft Beer
The report finds that the craft beer market too has also witnessed significant growth and is expected to continue growth during the forecast period to 2020. Similarly the market for flavored alcoholic drinks has been growing over the past few years.
But increasing taxation on alcoholic beverages and restrictions on their advertising and promotion remain key constraints to further growth.
The on-premise consumption of alcoholic beverages has been declining in most of the developed countries while increasing tax on dining and drinking is discouraging consumers from on-premise consumption.
Beers, ciders and Flavoured Alcoholic Beverages dominated the global alcoholic drinks market in 2014. Among the various regions, Europe accounted for the major share in the global market while the Supermarkets and Hypermarkets segment dominated global sales of alcoholic drinks among the various distribution channels.
FABs
Consumers who’ve become newly eligible for the purchase of alcoholic drinks are the most prospective buyers of FABs. They’re not very brand- or taste-loyal and want variety in their drink. This makes them an important market segment based on age.
Spirits have been the most popular among FABs. 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.
The P&S report points out that the global alcoholic drinks market is highly consolidated with the top two players accounting for over 60% of the global market.
The key players in the global alcoholic drinks market comprise ABInBev, Miller Coors, Heineken, Carlsberg, Diageo, Grupo Modelo, SABMiller, Bacardi, Olvi, Tsingtao, Beijing Yanjing and Kirin Holdings.
The research offers size and market forecasts for the alcoholic drinks market for the period 2011 to 2020.
