The Asia-Pacific Alcoholic Beverages Market demonstrates significant growth potential. The region's diverse consumer base, rising disposable income, and changing social attitudes toward alcohol consumption contribute to market expansion. Increasing urbanization, tourism, and the influence of Western lifestyles drive demand for a wide range of alcoholic beverages. The market is characterized by a variety of products, including beer, wine, spirits, and ready-to-drink cocktails. With a focus on innovation and premium offerings, manufacturers are catering to evolving consumer preferences, resulting in a vibrant and competitive market landscape in the Asia-Pacific region.
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Data Bridge Market Research analyses that the Asia-Pacific alcoholic beverages market is expected to witness market growth at a rate of 4.3% in the forecast period of 2022 to 2029. The increasing social acceptance of moderate alcohol consumption in many countries of the Asia-Pacific region has emerged as a driver of the alcoholic beverages market. Changing social norms and attitudes have led to a reduction in the stigma associated with drinking, thereby promoting the consumption of alcoholic beverages. This shift in perception has created a larger consumer base and contributed to the market growth in the region.
Key Findings of the Study
The younger population in the Asia-Pacific region has emerged as a significant driver of the alcoholic beverages market
Changing demographics, particularly the preferences of the younger population in the Asia-Pacific region, have emerged as a significant driver of the alcoholic beverages market. The younger generation is more open to exploring and experimenting with a variety of alcoholic beverages, including new flavors, craft beers, and premium spirits. This demographics’ inclination toward unique and diverse experiences has fueled the demand for innovative and high-quality alcoholic beverages. As a result, producers and manufacturers are responding to this demand by introducing a wider range of products, contributing to the growth of the Asia-Pacific alcoholic beverages market.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014-2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Beer, Distilled Spirits, Wine, Champagne, Brandy, Ciders, Others), Packaging (Bottles, Cans, Tetra Packs), Product Type (Flavoured, Unflavoured), Distribution Channel (Convenience Stores, Specialty Stores, Online Retailers, Hotels/Restaurants/Bars, Others),
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Countries Covered
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Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC)
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Market Players Covered
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SUNTORY HOLDINGS LIMITED(Japan), BROWN-FORMAN (U.S.), Anheuser-Busch InBev (Belgium), UNITED BREWERIES LTD (India), Molson Coors Brewing Company (U.S.), Accolade Wines (Australia), Heineken Holding N.V (Netherlands), Asahi Group Holdings, Ltd (Japan), Pernod Ricard (France), Carlsberg Breweries A/S (Denmark), Diageo: (U.K.), Kirin Holdings Company Limited (Japan)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand..
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Segment Analysis:
The alcoholic beverages market is segmented on the basis of type, packaging, product type, and distribution channel.
- On the basis of type, the alcoholic beverages market is segmented into beer, distilled spirits, wine, champagne, brandy, ciders and others.
- On the basis of packaging, the alcoholic beverages market is segmented into bottles, cans and tetra packs.
- On the basis of product type, the alcoholic beverages market is segmented into flavoured, unflavoured.
- On the basis of distribution channel, the alcoholic beverages market is segmented into convenience stores, specialty stores, online retailers, hotels/restaurants/bars, others.
Major Players
Data Bridge Market Research recognizes the following companies as the major Asia-Pacific alcoholic beverages market players in Asia-Pacific alcoholic beverages market are SUNTORY HOLDINGS LIMITED(Japan), BROWN-FORMAN (U.S.), Anheuser-Busch InBev (Belgium), UNITED BREWERIES LTD (India), Molson Coors Brewing Company (U.S.), Accolade Wines (Australia), Heineken Holding N.V (Netherlands),
Market Developments
- In July 2022, Diageo announced the acquisition of Balcones Distilling, a prominent producer of American Single Malt Whisky in the United States. Balcones utilizes Texas' extreme heat and temperature fluctuations to create whiskies with unique flavors.
- In April 2022, Bacardi introduced Legacy, an Indian-made whiskey, aiming to establish a value-focused category in India and strengthen its presence and expansion plans.
- In February 2022, Constellation Brands Inc. entered a brand licensing agreement with The Coca-Cola Company in the United States, bringing the FRESCA brand into the alcoholic beverages category.
Regional Analysis
Geographically, the countries covered in the Asia-Pacific alcoholic beverages market report are Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC),
As per Data Bridge Market Research analysis:
China is the dominant region in the Asia-Pacific alcoholic beverages market during the forecast period 2022-2029
China's dominance in the Asia-Pacific alcoholic beverages market can be attributed to several factors. Such as, the rising disposable income of the Chinese population has led to increased spending on premium alcoholic beverages, and the exposure to Western lifestyles and influences has resulted in a shift towards the consumption of imported alcoholic beverages. Additionally, the growing distrust of domestic liquor due to quality concerns has further fueled the preference for international brands. These changing trends have positioned China as a key market player in the Asia-Pacific region for alcoholic beverages.
For more detailed information about the Asia-Pacific alcoholic beverages market report, click here – https://www.databridgemarketresearch.com/ar/reports/asia-pacific-alcoholic-beverages-market
