World Distilled Alcoholic Beverages Market to Reach Over $315 Billion by 2012, According to a New Report by Global Industry Analysts
Driven by growing consumption in developing countries and the trend towards 'premiumization', the market for distilled alcoholic beverages is forecast to reach a value of over $315 billion by the year 2012.
San Jose, California (PRWEB) November 12, 2008
World market for distilled spirits is mature and well established in affluent nations, with saturation particularly apparent in North America, Western Europe, and Japan. To cash in on growing prosperity, multinational companies are aggressively expanding their presence in developing markets in Asia-Pacific and Eastern Europe. Several factors affect and shape this highly regulated and lucrative industry. Growing inclination towards low-alcohol drinks among core demographic groups and increasing media attention on the negative impact of alcohol consumption continue to exert a profound effect on the market for beverage alcohol. However, the positive aspect comes in the form of 'premiumization' or the marked trend towards premium and super-premium products.
Significantly rising consumption in certain markets is the key growth driver in the world beverage alcohol market. Preference for alcoholic beverages generally tends to vary from region to region. Loyalty towards long-established regional industries is high in several markets, despite the growing influence of globalization and multinational brand leaders. Indigenous traditions and national pride have a significant influence on alcoholic beverage preferences and consumption patterns across regional markets. Several developing countries are increasingly being exposed to international spirits, with consumers in these countries adopting western lifestyles. The rapid pace of urbanization is a major factor driving growth across most of these markets. This led to consumers having greater access to brands through rapidly developing on-trade and off-trade establishments, as well as greater affordability due to increasing disposable income levels. Furthermore, growing health concerns and negative media attention regarding alcohol intake exert a deep impact on consumption patterns.
World Alcoholic Beverages (Distilled Spirits) market (http://www. strategyr. com/Alcoholic_Beverages_Distilled_Spirits_Market_Report. asp) in terms of volume is forecast to reach about 25.3 billion liters by 2015, as stated by Global Industry Analysts, Inc. In terms of value, the market is expected to reach US$315 billion in 2012. Europe is the largest value market with an estimated share of 34%. Asia-Pacific is by far, the largest market in terms of volume sales with a share of 47%. The dominance reflects widespread popularity of local spirits, especially rice-based spirits such as baijiu in China and soju in South Korea. Asia-Pacific is forecast to emerge as the fastest growing region in terms of value as well as volume growth. The world market for Brown Spirits (Whisky, Dark Rum and Brandy) (http://www. strategyr. com/Alcoholic_Beverages_Distilled_Spirits_Market_Report. asp) is projected to exceed US$100 billion in 2010, with Whisky representing the largest product segment by value. The world market for White Spirits (Vodka, Gin and White Rum) (http://www. strategyr. com/Alcoholic_Beverages_Distilled_Spirits_Market_Report. asp) is forecast to reach a value of about US$80 billion in 2012. The on-trade sector continues to be the most popular consumption channel among young consumers.
The market is characterized by the presence of several well-known international companies and reputed brands. Market participants include Asahi Breweries Ltd., Bacardi & Co Ltd., Brown-Forman Beverage Co., Campari Group, Companhia Müller de Bebidas, Diageo Plc, Fortune Brands Inc., Foster's Group Limited, Carlton & United Breweries, Jinro Ltd., OST Alko, Pernod Ricard Groupe, Remy-Cointreau, San Miguel Corporation, Sang Som Co Ltd, Suntory Ltd, Takara Shuzo Co Ltd, Tanduay Distillers Inc., UB Group, United Winery & Distillery Co Ltd and William Grant & Sons Ltd among others.
For more details about this research report, please visit http://www. strategyr. com/Alcoholic_Beverages_Distilled_Spirits_Market_Report. asp (http://www. strategyr. com/Alcoholic_Beverages_Distilled_Spirits_Market_Report. asp)
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Global Industry Analysts, Inc., (GIA) (http://www. StrategyR. com/) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
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