Asia Pacific Alcoholic Beverages Market is worth USD million in 2022 and estimated to grow at a CAGR of xx.xx%, to reach USD million by 2028. The Asia Pacific Alcoholic Beverages market is developing at an exceptionally quick pace.
An alcoholic drink is a drink which has ethanol, generally known as alcohol. They are legally consumed in various countries, and more than hundred countries have laws regulating their production, sale, and consumption. Manufacturers of alcoholic drinks that are constantly launching new products with added flavors. Curiosity amongst consumers especially among millennial is attracting them to try these products, which is having a positive impact on the alcoholic beverages market.
The significant driver is the growing demand for premium alcoholic beverage. Also change in lifestyles leading to new product launches and innovations in alcoholic drinks, in developed and developing nations is boosting the industry. Benefits like reduction in risk of cardiovascular disease, prevention from cold when consuming alcohol in limited amounts is further expected to boost this industry. Change in climatic conditions leads to the reduction in the yield of the crop, which increases the cost of alcohol is a limiting factor to this industry. Also increasing government regulation and taxes are proving to be a barrier in the Alcoholic Beverages market.
The Asia Pacific Alcoholic Beverages market is segmented on the basis of Type, Distribution Channel and region. Based on type the market is segmented into beer, wine and distilled spirits. Beer segment has a major share in Alcoholic Beverages market in 2017 which was around 75%. Based on Distribution Channel the market is segmented into Convenience Stores, On Premises, Retailers, and Supermarkets. Convenience Stores is expected to have highest growth rate.
Asia Pacific is geographically segmented into China, India, Japan, South Korea, Taiwan, Australia and South East Asia. China and India are likely to increase the market because of huge population. Also Asia Pacific is largest growing segment.
Key Players in the Market:
Major key players in the Asia Pacific Alcoholic Beverages Market are
Molson Coors Brewing Co., Pernod Ricard SA, SABMiller Ltd., United Spirits Ltd.,Bacardi Limited, Beam Suntory Inc., Constellation Brands Inc., Diageo , Heineken Holding NV, Accolade Wines Ltd., Asahi Breweries Ltd., Brown-Forman Corp., Carlsberg A/S, China Resources Beer Company Limited
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