The alcoholic drink market will be worth $2.52 trillion by 2020
The market for alcoholic drinks dominates the beverage market across the globe.
In 2015, the global alcoholic drinks market was valued at $2.26 trillion and this expected to reach $2.52 trillion by 2020, thanks in part to a massive surge in popularity across the Asia Pacific region.
During the forecast period 2017-2021, the alcoholic beverages segment in APAC will register a fast-paced growth with China and India as the key markets. In 2015, the alcoholic drinks market in APAC was valued at $535.5 billion and is expected to reach $673.4 billion by 2020.
These figures come from a research paper, Global Commercial Beer Dispensers Market 2017-2021, which has identified trends such as demand for chilled beer as a key driver for growth in certain beer taps.
Analysts forecast the global beer market to grow at a CAGR of 2.4 percent by revenue during the period 2016-2020.
An analyst said: “A key trend influencing and boosting market growth is the introduction of new flavors by vendors. Vendors are coming up with new and innovative flavors for beers such as chocolate, blueberry, Brussel sprout, lemon, and various other flavors. In the US, nearly 27 percent of the new beer products launched in 2015 were new flavored beer products. Flavored beer is more popular among female consumers in the age group of 22-34 years as nearly 39 percent of consumers of flavored beer belonged to this category.”
