The premium alcoholic Beverages market is growing at a 9.3% CAGR and expected to reach a $1.7 trillion valuation by 2032. A growing number of people drink wine worldwide, quality, new brands, rising affluence, and health concerns about wine all contribute to increased demand.
growing as a result of pet owners looking for healthier and more useful solutions. By 2032, it is projected that this growth will have reached $27.8 billion, mostly as a result of rising pet ownership and growing awareness of pet health.
Freeze-dried pet food is growing in popularity as pet owners look for more sensible and healthful solutions. Longer shelf lives, simpler storage, and nutrient retention are the aims of this cutting-edge pet food sector. The industry is expanding due to rising pet ownership and growing consumer awareness of pet health.
The market for freeze-dried pet food is anticipated to grow at a 5.3% compound annual growth rate (CAGR) and reach a valuation of around US$ 27.8 billion by 2032.
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Similar to this, during the projected period, producers of these beverages will have a wide range of opportunities due to millennials’ growing need for a variety of luxury alcoholic beverages such beer, rum, and wine.
Additionally, the convenience with which these premium alcoholic beverages may be purchased online will lead to an increase in sales of these products during the assessment period.
Key Takeaways from Market Study
- The premium alcoholic beverages market size reached US$ 11.4 Bn in 2022.
- By alcohol type, whiskey is likely to be the most remunerative segment in the global premium alcoholic beverages during the forecast period.
- Based on sales channel, B2C to witness highest premium alcoholic beverages sales through 2032.]
- The U.S. will continue to remain the most dominant premium alcoholic beverages market during the forecast period.
- Demand for premium alcoholic beverages to rise at a robust pace in Japan over the assessment period.
“Growing consumer preference for nutritional beverages with optimum quality will create lucrative growth opportunities for the premium alcoholic beverages manufacturers during the forthcoming years,” says a Future Market Insights analyst.
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Competitive Landscape
Key premium alcoholic beverages are constantly focusing adopting various strategies such as new product launches, advertisements, price reduction, partnerships to gain a competitive edge in the global market. For instance,
- In 2021, Dos Equis, a Heineken USA brand, launched a Hard Seltzer named as Dos Equis Ranch Water, which is inspired by the sparkling mineral water, classic West Texas tequila, and lime. The Dos Equis brand has become the largest import brand in Texas with 16.1% growth in the past year.
Key Companies Profiled in Premium Alcoholic Beverages industry are Bacardi Limited, Diageo Plc, Pernod Ricard SA, Gruppo Campari, The Brown-Forman Corporation, The Edrington Group, Heineken N.V., Anheuser-Busch Companies, LLC, Carlsberg A/S, Miller Coors, Others
Premium Alcoholic Beverages Market by Category
By Alcohol Type:
- Beer
- Wine
- Whiskey
- Gin
- Vodka
- Rum
- Others
By Packaging:
- Bottles
- Can
- Jars
- Tins
- Others
By Sales Channel:
- B2B/Direct
- B2C/Indirect
By Application:
- Household Segment
- Hospitality Industry
- Others
Frequently Asked Questions
- What is the current size of premium alcoholic beverages industry?
- At what CAGR is the market expected to expand through 2032?
- How was the performance of premium alcoholic beverages over the past half-decade?
- What is the projected valuation for premium alcoholic beverages by 2032?
- Who are the key players operating in the market?
- Which are the top countries driving the premium alcoholic beverages industry demand?
- What are the key factors affecting the premium alcoholic beverages industry growth?
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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