Alcoholic Beverages Market is Gaining Major Traction as Remy Cointreau Enters into Distribution Agreement with Southern Glazer’s Wine & Spirits for Distribution in New York
An alcoholic beverage is simply a
liquid beverage that contains alcohol, a form of carbohydrate produced from
yeast, fruits, grain, or other organic sources of sugars. The consumption of
alcoholic beverages plays an important cultural role in most societies.
However, these laws vary greatly from country to country, province to province,
and even from city to city within a metropolitan area. Some places have more
lenient laws than others regarding alcohol sales and consumption, while others
have more stringent regulations in place. Alcoholic Beverages can also include
the following: Blended alcoholic beverages; Vodka; Gin; Bourbon; Liquorice;
Tequila; Sherry; vodka; gin, brandy, and whiskey. The amount of alcohol in any
one of these beverages is the same
Rising disposable income is expected
to drive growth of the global alcoholic beverages market. Disposable income
across the globe in both developed and emerging economies has increased
significantly over the years. According to the Organisation for Economic
Co-operation and Development (OECD), in 2017, the gross adjusted disposable
income in the U.S. was US$ 50,444 per capita increasing from US$ 45,960 per
capita in 2014. As a result of this, the spending capabilities of consumers on
leisure activities have increased. Thus, these factors are expected to drive
growth of the global alcoholic beverages market. Furthermore, rise in consumer
demand combined with increase in the global young-adult demographic is expected
to boost the global alcoholic beverages market in the near future. Launch of
novel products is expected propel the global alcoholic beverages market. For
instance, in February 2020, Sula Vineyards launched the first canned wine Dia
Sparkler in a 330 ml can.
However, high cost of premium
products and increase in health concerns is expected to hamper the global
alcoholic beverages market growth. Among regions, Europe is expected to
witness significant growth in the global alcoholic beverages market during the
forecast period. This is owing to increasing penetration of high consumption of
alcoholic drinks across the globe. Furthermore, North America is expected to
register a robust growth rate over the forecast period, owing to the strong
demand for alcohol in the region.
Key companies operating in the global
alcoholic beverages market are Bacardi, InBev, SABMiller, Diageo, Remy Cointreau,
Carlsberg, Remy Cointreau, Heineken, and Pernod Ricard.
For instance, in February 2020,
Southern Glazer’s Wine & Spirits entered into a distribution agreement with
Remy Cointreau USA for distribution in New York.
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