published Date SEP 2018

Premium Alcoholic Beverages Market is set to grow at a CAGR of 9.8% (2018-2023)

Health conscious consumers are preferring premium alcoholic beverages over non-premium products due to the variation of natural flavors in vodka and other distilled spirits which is supporting the market growth across the globe. For example, in 2018, Ketel One has launched their very first diet vodka, Ketel One Botanical which is distilled with real botanicals and infused with natural fruit essences. 

Aug 21th, 2018: The global premium alcoholic beverages market is expected to register a CAGR of 9.8%, as per a new report published by Mordor Intelligence, LLP. Introduction of natural flavors in premium distilled spirits especially in vodka is attracting the health-conscious consumers to buy premium distilled spirits over non-premium distilled spirits across the globe.

Millennials are looking for diversity in their alcohol choices. Age effects, like being new to legal drinking, play a significant role to drive the premium spirit consumption across the globe. Majority of millennials population across the globe rejects mass-market alcoholic beverages consumptions which is rising popularity of premium alcoholic beverages especially premium wine and vodka from last few years.

Presence of large millennial consumer base in the Asia-Pacific region is encouraging key players of premium alcoholic beverages to expand their geographical presence and increase their consumer base in the region. Europe is the major market for premium wine owing to growing demand for premium wine in UK, Germany, Poland, and Switzerland. However, changing trade regulation due to Brexit is likely to hamper the premium alcoholic beverages market during the forecast period.

Key Insights from the Report:

  • North America holds the significant market share for premium alcoholic beverages, owing to major market share of premium wine and distilled spirits in US and availability of potential consumer groups in the region.
  • The bargaining power of suppliers is high owing to the high degree of differentiation of end products and the growing influence of brand-conscious consumers
  • Premium alcoholic beverages market is dominated by several players across the globe whereas key players in distilled spirits such as Diageo plc, Bacardi Ltd, and Pernod Ricard SA are expanding their premium alcoholic beverages segment by introducing new premium alcoholic beverages brands and acquiring established premium wine and distilled spirits companies.
  • Key players in premium wine and distilled spirits especially tequila in North America and Europe region are looking at premium alcoholic beverages as an opportunity to expand the consumers base due to growing demand for premium alcoholic beverages in the region.
  • In US, vodka holds significant market share in premium alcoholic beverages followed by whiskey, and tequila.

To know more about the coverage of the Premium Alcoholic Beverages Market report, click the below link:

https://www.mordorintelligence.com/industry-reports/premium-alcoholic-beverages-market      

The report Premium Alcoholic Beverages Market- Segmentation by Type, By Distribution Channel, and By Geography

Premium Alcoholic Beverages Market by Type,

  • Beer
  • Others
  • Spirits
  • Wine

Premium Alcoholic Beverages Market by Distribution Channel,

  • Supermarket/Hypermarket
  • Convenience stores
  • Foodservice
  • Others

Premium Alcoholic Beverages Market by Region,

North America

  • US
  • Mexico
  • Canada
  • Rest of North America

Europe       

  • Germany
  • Spain
  • France
  • Russia
  • UK
  • Rest of Europe

Asia Pacific

  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific

South America

  • Brazil
  • Argentina
  • Rest of South America

Middle East & Africa

  • South Africa
  • UAE
  • Rest of Middle East & Africa

Get a free overview on Premium Alcoholic Beverages Market Report (2018-2023)

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