APAC Alcoholic Beverage Industry Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Asia Pacific Alcoholic Drinks Market is Segmented by Product Type (Beer, Wine, and Spirits); by Distribution Channel (On-trade and Off-trade (Supermarkets/Hypermarkets, Specialist Stores, Online Stores, and Other Off-trade Channels)); and by Geography (China, India, Japan, Australia and Rest of Asia Pacific). The market size and forecasts are provided in terms of value (USD million) for all the above segments.

APAC Alcoholic Beverages Market Size

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Asia-Pacific Alcoholic Beverage Market Summary
Study Period 2018 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2018 - 2022
CAGR 5.22 %
Market Concentration High

Major Players

Asia-Pacific Alcoholic Beverage Market Major Players

*Disclaimer: Major Players sorted in no particular order

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APAC Alcoholic Beverages Market Analysis

The Asia-Pacific Alcoholic Beverage Market is projected to register a CAGR of 5.22% over the next five years.

The alcoholic beverage market is highly diversified in Asia because of variations in taste and preferences and social and cultural behaviors. Due to the increased demand for premium alcohol, the Asia-Pacific Alcoholic beverage market is growing steadily. Alcoholic beverages mostly appeal to millennials in Asia-Pacific who enjoy communicating over a drink without becoming inebriated. Additionally, compared to other alcoholic beverages, the 22-30 age group exhibits a substantial demand for beverages with lower alcohol concentration. Additionally, Ready drinks are popular among women as an introductory alcoholic beverage. As a result, during the coming years, these factors are expected to be important in boosting the expansion of the Asia-Pacific alcoholic beverage market.

Furthermore, factors like rapid urbanization, growing middle-class income, and higher consumer purchasing power all contribute to the rise in alcoholic beverage demand. In addition, the number of people who drink alcohol and the desire to socialize through partying and social gatherings has increased dramatically. Changing social and cultural factors have also strengthened the potential of the alcoholic beverage market. Expanding pub culture has offered more avenues for people to consume alcohol. As more and more nightclubs, bars, and pubs are prevailing around 1~ and 2-tier cities in countries like China and India, the younger generation groups have more chances to access western alcoholic beverages, thus stimulating the growth of the alcoholic beverages market in Asia-Pacific.

APAC Alcoholic Beverages Market Trends

This section covers the major market trends shaping the APAC Alcoholic Beverage Market according to our research experts:

Rising Demand for Cocktails and Other Mixed Drinks

The alcoholic beverage market is growing due to changing consumption patterns and increased disposable incomes. To meet evolving consumer tastes and preferences, alcoholic beverage makers are now introducing ready-to-mix hybrid beverages. Hybrid beverages are alcoholic cocktails that combine elements from several different beverage categories. They're made with unusual flavor combinations, ingredients, and production processes borrowed from various drinks. For example, they produce spirits or beers in a wine barrel to give them a particular flavor. In the spirit sector, hybrid beverages are especially prevalent, with products like beer blended with rum and tea mixed with vodka. Malibu Red (rum and tequila), Kahlua Midnight (rum and Kahlua), and Absolut Tune are among the most popular hybrid beverages on the market (vodka and sparkling wine).

Furthermore, cocktails, mixed drinks, and shooters are the frequently featured flavored spirits in the market. The changing consumer behavior in alcoholic beverages toward flavored infused drinks is increasing the demand for flavored spirits in the market. The Indian flavor profile for alcohol have been evolved, and prefers more refined mixed alcohol in the market. Citrus, watermelon, green apple, and raspberry are considerably the most preferred flavors in assorted alcohol beverages among consumers. Flavored rum is one of the highest-consumed drinks in the market. This, in turn, encourages rum makers to introduce new flavors. For instance, in July 2021, Bacardi Limited launched Bacardi tropical, a limited-edition flavored rum in the market. The rum contains mixed tropical fruit flavors, including pineapple, coconut, and guava.

Asia-Pacific Alcoholic Beverage Market: Alcohol Consumers (In %), By City, India,2021

China Holds the Highest Share in the Market

China holds the largest market share in the Asia-Pacific region. The emerging nightlife culture in cities, an increasing proportion of Chinese consumers purchasing alcohol as a gift for acquaintances, and a greater willingness to try new varieties of alcohol are all driving the alcoholic beverages market in China. Furthermore, growing income levels and improvements in distribution networks and infrastructure made alcoholic beverages more accessible in the cities and boosted the demand for imported alcoholic beverages. Baijiu, the local spirit of China, is reported to witness the highest demand.

The factors contributing to the market growth include increasing demand for alcoholic beverages due to the huge population base in China, coupled with the growing consumption of alcohol by the young generation. More and more international brands are targeting young consumers, by building fashionable images since they have enormous consuming potential and are willing to pay for fashionable lifestyles. In 2021, according to World Bank, 18% of the Chinese population falls in the age bracket of 0-14 years and 70% of the population falls in the age bracket of 15-64 years. According to United Nations data, the population of China is 1450.81 Million in July 2022. The consumption of spirits by the growing population is one of the major factors that contribute to market growth. According to the WTO (World Trade Centre), China is one of the largest consumers of alcohol, with an increase in per capita consumption of 0.9 liters of pure alcohol by 2025 from 2016.

Asia-Pacific Alcoholic Beverage Market: Wine Consumption Volume (In Million Hectoliter),China, 2018-2021

APAC Alcoholic Beverages Industry Overview

The Asia-Pacific alcoholic beverage industry is consolidated, with a few companies holding the maximum market shares. Diageo Plc, Suntory Beverages & Food Limited, Bacardi Limited, Heineken Holding NV, and Anheuser-Busch InBev are the key players in the alcoholic beverage market. Product launches, followed by new mergers and acquisitions, partnerships, and expansions, are the most preferred strategies to strengthen the players' positions in the market. For instance, in January 2021, Anheuser-Busch InBev Vietnam Limited Company (AB InBev Vietnam) and SAB Beer Production Limited Company (SAB Beer) announced the official merger of SAB Beer into AB InBev Vietnam.

APAC Alcoholic Beverages Market Leaders

  1. Diageo plc

  2. Bacardi Limited

  3. Anheuser-Busch InBev

  4. Heineken Holding NV

  5. Suntory Beverages & Food Limited

*Disclaimer: Major Players sorted in no particular order

Asia-Pacific Alcoholic Beverage Market Concentration
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APAC Alcoholic Beverages Market News

  • In April 2022, Diageo India launched a new single malt whisky and two mixers for its Johnnie Walker and Black & White Scotch brands. The new whisky was created using Rajasthan-specific six-row barley grains and was aged at a heat of more than 100°F.
  • In February 2022, Bacardi GTR introduced a new travel-retail exclusive Teeling Whiskey line in partnership with China Duty-Free Group (CDFG) on the island of Hainan. The Teeling Whiskey 32 YO Single Malt Rum Cask, The Teeling Whiskey 38 YO Single Malt Very Rare Cask, and The Teeling Whiskey 2001 Vintage Reserve Single Cask are the three expressions in the line-up.
  • In July 2021, The Boston Beer Company and Beam Suntory established a long-term strategic partnership to expand certain classic brands into some of the fastest-growing beverage alcohol markets. Beam Suntory, a global leader in premium spirits, and Boston Beer, a pioneer in craft beer, will initially debut products that expand the Sauza tequila brand into ready-to-drink drinks (RTDs) Truly Hard Seltzer into bottled spirits through this collaboration.

APAC Alcoholic Beverages Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Product Type

      1. 5.1.1 Beer

      2. 5.1.2 Wine

      3. 5.1.3 Spirits

    2. 5.2 Distribution Channel

      1. 5.2.1 On-trade

      2. 5.2.2 Off-trade

        1. 5.2.2.1 Supermarkets/Hypermarkets

        2. 5.2.2.2 Specialist Stores

        3. 5.2.2.3 Online Retail Stores

        4. 5.2.2.4 Other Off-trade Channels

    3. 5.3 Geography

      1. 5.3.1 China

      2. 5.3.2 Japan

      3. 5.3.3 India

      4. 5.3.4 Australia

      5. 5.3.5 Rest of Asia-Pacific

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Adopted Strategies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 Diageo PLC

      2. 6.3.2 Bacardi Limited

      3. 6.3.3 Anheuser-Busch InBev

      4. 6.3.4 Heineken Holding NV

      5. 6.3.5 Molson Coors Brewing Company

      6. 6.3.6 The Wine Group LLC

      7. 6.3.7 Suntory Beverages & Food Limited

      8. 6.3.8 Brown-Forman

      9. 6.3.9 Radico Khaitan

      10. 6.3.10 Pernod Ricard

    4. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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APAC Alcoholic Beverages Industry Segmentation

An alcoholic beverage is a drink or brew that contains alcohol as an active ingredient. The Asia-Pacific alcoholic beverage market is segmented by product type, distribution channel, and geography. Based on product type, the market is segmented into beer, wine, and spirits. Based on distribution channels, the market is segmented into on-trade and off-trade. The off-trade segment is further divided into supermarkets/hypermarkets, specialist stores, online stores, and other off-trade channels. Based on geography, the market is segmented into China, Japan, India, Australia, and the rest of the Asia-Pacific region. For each segment, the market sizing and forecasts have been done based on value (in USD million).

Product Type
Beer
Wine
Spirits
Distribution Channel
On-trade
Off-trade
Supermarkets/Hypermarkets
Specialist Stores
Online Retail Stores
Other Off-trade Channels
Geography
China
Japan
India
Australia
Rest of Asia-Pacific
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APAC Alcoholic Beverages Market Research FAQs

The Asia-Pacific Alcoholic Beverage Market is projected to register a CAGR of 5.22% during the forecast period (2024-2029)

Diageo plc, Bacardi Limited, Anheuser-Busch InBev, Heineken Holding NV and Suntory Beverages & Food Limited are the major companies operating in the Asia-Pacific Alcoholic Beverage Market.

The report covers the Asia-Pacific Alcoholic Beverage Market historical market size for years: 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Alcoholic Beverage Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

APAC Alcoholic Drinks Industry Report

Statistics for the 2024 APAC Alcoholic Drinks market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. APAC Alcoholic Drinks analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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APAC Alcoholic Beverage Industry Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)