Alcoholic beverages are produced by fermenting sugars derived from various sources such as fruits, berries, grains, and substances like plant saps, tubers, honey, and milk. Distillation can then be used to increase the alcohol content of the initial liquid. Beer, belonging to the malt family, is well-known and includes varieties like ale, stout, porter, and malt liquor. Beer is made from hops, malt, corn, and rice and typically has an alcohol concentration ranging from 2 to 8 percent. Wine, on the other hand, is created by fermenting the juice of grapes or other fruits like apples, cherries, berries, or plums. The juice is carefully fermented at controlled temperatures in large vats, followed by filtration, aging, and bottling.
According to Data Bridge Market Research, the Alcoholic Beverages Market accounted for USD 187.89 billion in 2022, and expected to reach USD 330.14 billion by 2030. The market is expected to grow with a CAGR of 7.30% in the forecast period of 2023 to 2030.
“Increasing demand for premium alcoholic beverages”
Alcoholic beverages have become a common inclusion in almost every gathering or event, often serving as a conversation starter. They are also associated with luxury, leading to a growing trend of featuring premium drinks in various settings. As living standards improve in South Africa, consumers now have the means to afford higher-quality brands compared to before. This has resulted in an increasing demand for foreign brands in the region. The overall societal development and rising per capita expenditure over time are expected to further fuel the demand for alcoholic beverages, contributing to the growth of the market in this region.
What restraints the growth of the alcoholic beverages market?
“Disadvantages associated with alcoholic beverages”
The market growth is being impeded by the rising consumer preference for non-alcoholic beverages. Moreover, establishing a new company in the alcoholic beverages industry requires significant investments, resources, and government certifications, resulting in lengthy processing times. These factors collectively hinder the market's growth during the forecast period as they pose challenges in terms of consumer preferences and the regulatory landscape, thereby affecting the overall market dynamics.
Segmentation: Middle East and Africa Alcoholic Beverages Market
The alcoholic beverages market is segmented on the basis of product type, alcoholic content, flavor, and packaging and distribution channel.
- On the basis of product type, the alcoholic beverages market is segmented into beer, wine, spirits, others.
- On the basis of alcoholic content, the alcoholic beverages market is segmented into high, medium, low.
- On the basis of flavor, the alcoholic beverages market is segmented into unflavoured, flavoured.
- On the basis of packaging, the alcoholic beverages market is segmented into plastic bottles, glass bottles, and tins.
- On the basis of distribution channel, the alcoholic beverages market is segmented into modern trade, convenience stores, specialty stores, online retailers, hotels/restaurants/bars, commercial stores, on premises, liquor stores, grocery shops, internet retailing, and supermarkets.
Regional Insights: South Africa dominates the Alcoholic Beverages Market
South Africa dominates the Middle East and Africa alcoholic beverages market owing to the increase in the consumption of alcoholic beverages in this region. Moreover, the rise in the drinking population will further increase and the rising consumer preference for non-alcoholic beverages is driving the market’s growth in the region.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/middle-east-africa-alcoholic-beverages-market
Recent Developments in Alcoholic Beverages Market
- In 2022, Diageo announced the launch of its first locally formed artisanal whisky named "Godawan Single Malt." This company said this product would be available in Dubai from April onwards.
- In 2022, Le Clos launched a limited edition named 50-year-old Celebration Edition Blended Whisky. This exceptional 50-year-old Celebration Edition is a rare and handmade blend from some of Scotland's most iconic distilleries. This collection is only available from Le Clos outlets at Dubai International airport (DXB) and is limited to 120 bottles.
The Prominent Key Players Operating in the Alcoholic Beverages Market Include:
- Davide Campari-Milano N.V. (Netherlands)
- Diageo PLC (U.K.)
- Halewood International Limited (U.K.)
- Asahi Group Holdings, Ltd. (Japan)
- Accolade Wines (Australia)
- Bacardi Limited (Bermuda)
- Mike's Hard Lemonade Co. (U.S.)
- Castel Group (France)
- Suntory Holdings Limited (Japan)
- Anheuser-Busch InBev SA/NV (Belgium)
- The Brown-Forman Corporation (U.S.)
- United Brands Company, Inc. (U.S.)
- PernodRicard SA (France)
- The Miller Brewing Company (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of alcoholic beverages companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Middle East and Africa Alcoholic Beverages Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Middle East and Africa vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
