The global alcoholic beverage market is expected to experience an average growth of almost $1,370 billion by 2018. Due to a huge population base and rising disposable income the alcoholic beverage market is facing an increasing demand. Alcoholic beverage includes three segments such as beer, wine and spirit. We have analyzed the alcoholic beverage raw material suppliers as well as alcoholic beverage and found that it will recognize valuable opportunities that exist in the global alcoholic beverage industry.
The beverage industry is facing various competitions as the industry is highly fragmented in nature and where top players contribute small portion of industry revenue. A cut throat competition to achieve the maximum market share is being observed. Increasing prices of raw materials with strict governmental regulations have become a challenge for the industry’s growth. According to the current observation it is found that legalization of marijuana in various nations, especially in US, has affected the alcoholic beverage industry. Beverage industry is also prone to unfavorable climate and scarcity of input materials such as water, fruits, etc. which pose a challenge to the growth of alcohol beverage market.
The demand of the alcoholic beverage mainly depends on the changing taste and preferences of consumers, high affluence towards drinks and increasing disposable income. The growth drivers of the alcohol industry are mainly:
- ♦ Product development and innovation plays
- ♦ Advancement in distribution channels
- ♦ Growing tourism sector
Market Quotient has explored the above mentioned growth drivers apart from client’s customized demand for flavors, aroma, taste and components.
The growth of the global alcoholic beverage industry was moderate at first but the growth has become high owing to the growing consumer base for alcohol consumption, especially the young generation which is fuelled by the increasing disposable income of the consumers. Market quotient can help you to reach up to those consumers since we give a proper market research on the consumers’ demand.
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