New York, United States , July 05, 2024 (GLOBE NEWSWIRE) -- The Global Alcopops Market Size is to Grow from USD 4.28 Billion in 2023 to USD 6.89 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 4.88% during the projected period.
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Alcopops are pre-made, sweetened beverages that have a lower alcohol content than pure spirits. They are designed to taste like lemonade, cola, or pop and have a comparatively low alcohol content. There are two main reasons for young individuals who drink choose alcopops. Because of their distinctive packaging and attractive labeling, young shoppers found them appealing. In addition, novice and infrequent drinkers find alcopops more enticing due to their fruity, sugary-sweet flavor. These drinks are marketed mostly to young adults and come in a wide variety of fruit and flavor combinations. Customers are increasingly looking for unique and alluring flavors in their alcoholic beverages. Alcopops are pre-mixed alcoholic beverages that don't require mixing or preparation in advance time, providing a convenient, ready-to-drink format that is growing more and more popular. This makes them attractive to customers looking for a hassle-free drinking experience. It also indicates that, mainly in affluent nations like the US, Germany, Canada, and France, a growing segment of the younger population is open to trying new alcoholic drinks. However, alcohol laws are being introduced to restrict the amount of alcohol in alcopops in addition to their size, thus preventing the market's expansion.
Browse key industry insights spread across 200 pages with 100 Market data tables and figures & charts from the report on the "Global Alcopops Market Size, Share, and COVID-19 Impact Analysis, By Base Type (Beer, Whiskey, Rum, Vodka, and Others), By Packaging Type (Bottles, Cans, and Others), By Distribution channels (Supermarkets & Hypermarkets, Specialty Stores, Convenience Stores, Online Stores, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033. "
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The rum segment is anticipated to hold the greatest share of the global alcopops market during the projected timeframe.
On the basis of the base type, the global alcopops market is divided into beer, whiskey, rum, vodka, and others. Among these, the rum segment is anticipated to hold the greatest share of the global alcopops market during the projected timeframe. Rum is the most widely consumed alcoholic beverage under the spirits category. The demand for premium spirits is rising in both established and emerging economies as average income levels rise. Global market demand for expensive products will presumably continue to grow.
The bottles segment is anticipated to grow at the fastest pace in the global alcopops market during the projected timeframe.
On the basis of packaging type, the global alcopops market is divided into bottles, cans, and others. Among these, the bottles segment is anticipated to grow at the fastest pace in the global alcopops market during the projected timeframe. To maintain the demand for bottles globally and continue making the segment interesting to customers, the biggest companies in the market continuously place a high priority on innovation, the creation of new packaging designs, and product extensions.
The supermarkets & hypermarkets segment is predicted to grow at the highest pace in the global alcopops market during the estimated period.
On the basis of distribution channels, the global alcopops market is divided into supermarkets & hypermarkets, specialty stores, convenience stores, online stores, and others. Among these, the supermarkets & hypermarkets segment is predicted to grow at the highest pace in the alcopops market during the estimated period. Large shelves and attractive displays are other features that supermarkets and hypermarkets usually offer, which help alcopop brands become more visible, draw in customers, and enhance their revenue prospects.
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North America is expected to hold the largest share of the global alcopops market over the forecast period.
North America is expected to hold the largest share of the global alcopops market over the forecast period. The regulatory environment that allows for the sale and consumption of low-alcoholic beverages, like alcopops, as a drinker's alternative, and the widespread demand and consumption of various alcoholic beverages, especially among younger people, are largely responsible for the acceleration of the regional market growth.
Asia Pacific is predicted to grow at the fastest pace in the global alcopops market during the projected timeframe. Owing to the increasing urbanization and westernization patterns in the APAC region, affect consumer drinking and lifestyle choices.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global alcopops market include Molson Coors, Suntory Holdings Limited, Brown-Forman Corporation, Asahi Group Holdings, Amrut Distilleries Pvt. Ltd, Diageo Plc, Anheuser-Busch, Halewood International, Radico Khaitan Ltd, Mike’s Hard Lemonade Co., United Brands Co., Pabst Brewing Company, Bacardi Limited, Campari Group, and others.
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Recent Developments
- In May 2024, The US will see Peroni production brought in by Molson Coors. One of Molson Coors' major goals is expanding its line of premium beers, and the business believes that producing Peroni Nastro Azzurro domestically is a crucial first step toward reaching the brand's full potential in the marketplace.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global alcopops market based on the below-mentioned segments:
Global Alcopops Market, By Base Type
- Beer
- Whiskey
- Rum
- Vodka
- Others
Global Alcopops Market, By Packaging Type
- Bottles
- Cans
- Others
Global Alcopops Market, By Distribution Channel
- Supermarkets & Hypermarkets
- Specialty Stores
- Convenience Stores
- Online Stores
- Others
Global Alcopops Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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