Albany, NY -- (SBWIRE) -- 01/09/2019 -- Rise in Alcohol Consumption to Propel Market Demand

One of the key drivers propelling the growth of this industry is the growing trend of alcohol consumption on various occasions. This has emerged as a culture among the masses in developing nations. Moreover, the improved distribution networks of various keen players is also boosting sales. Another factor fueling the growth of the market is rise in purchasing power of the consumers in developing countries for example India and Brazil. The rise in disposable income has encouraged individuals to try out new way of entertainment such as get-together, night parties, hanging out at lounges, bars and pubs.

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According to Transparency Market Research, the global alcoholic beverages market is expand at a steady CAGR of 6.4% within the forecast period from 2017 to 2025. The market was valued to be US$1,205,359.1 mn in 2017. This figure is expected to soar to about US$1,977,942.7 mn by the end of forecast period, 2025.

Increase Consciousness about Health Likely to Hinder Market Growth

On the flipside, availability of healthy alternatives such as energy drinks and non-alcoholic drinks are expected to hamper the market growth of alcohol to a large extent. Rising awareness about wellness and healthcare has encouraged the masses to reduce the consumption of alcoholic drinks. Too much of alcohol consumption can cause liver damage, cancer, or heart problems. And these are reasons why most people abstain from it.

For the calculation of revenue collection of average regional prices were obtained through primary quotes from numerous alcoholic beverages manufacturers, retailers and distributors. All key end users have been considered and potential applications have been estimated on the basis of secondary sources and feedback from primary respondents.

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Country demand patterns have been considered while estimating the market for various end users of alcoholic beverages in the different regions. Top-down approach has been used to estimate the alcoholic beverages market by countries. Global market numbers by product type has been derived using the bottom-up approach, which is cumulative of each country's demand. Company-level market share has been derived on the basis of alcoholic beverages penetration. The market has been forecast based on constant currency rates.