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A comprehensive overview of the Al-coholic Beverage market is recently added by UnivDatos Market Insights to its humongous database. The Al-coholic Beverage market report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Al-coholic Beverage market. The Al-coholic Beverage market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Al-coholic Beverage market at the global and regional levels. The Global Al-coholic Beverage Market is expected to grow Higher by 2027.
Market Overview
India is the biggest manufacturer of Al-coholic Beverages in the world. Al-coholic Beverages market is matured in India over the years but still it is highly confined to limited varieties. India has the third largest Al-cohol market in the world. For instance, the revenue of Al-coholic drinks in the country was more than 67 billion dollars in 2018.
Furthermore, about a third of India’s population consumes Al-cohol on a regular basis and 11% of the total number of Indians are moderate or heavy drinkers. One-third of males and one-fourth of females in India who have made it a part of their lives say, in surveys, that it causes problems to their physical health, finances and household responsibilities. It has been observed that Al-cohol is an intricate and essential part of the Indian economy. India is also one of the highest consumer of Al-cohol worldwide. For instance, as per World Health Organization, an individual consumes about 6.2 liters of Al-cohol per year. India is one of the largest producers and consumers of spirits globally. Though it is driven primarily by whiskey growth, other subsegments like brandy, rum, vodka and gin have also been posting steady numbers in the last few years. The country’s huge population (1.3 billion strong), rising disposable income and changing lifestyle are expected to boost the market for Al-coholic beverages.
COVID-19 Impact
The Covid-19 outbreak wreaked havoc on supply systems, halting them totally. Furthermore, because Al-coholic beverages are non-essential, their distribution routes opened more slowly than those for staples and other discretionary goods. However, with the phased unlocking of the economy, restrictions on manufacturing and distribution eased for this segment, and by end-Q2 FY21, most off-premises channels were open, and the on-premises channel was allowed to function with certain restrictions. This resulted in progressive recovery in volumes of Al-coholic Beverage players sequentially, though less than volumes of other staples and discretionary. Besides its discretionary nature, the key reason for the slower recovery was restrictions on operations off premises (fewer operating hours and night curfew).
Following the Covid-19 outbreak, state taxation on Al-coholic beverages increased, either through the implementation of a Covid-19 guidelines or an increase in excise duty. States like Andhra Pradesh, Delhi and J&K raised taxes by 50-70% by imposing a Covid cess. West Bengal and Odisha increased excise duty by 30%. In other major markets, tax hikes ranged from 10% to 20%. Such steep hikes, however, resulted in curtailed revenue as consumption was hit, resulting in volumes shrinking.
However, as the intensity of the pandemic eases, overall mobility would further improve, thereby increasing consumption of Al-coholic Beverages. This is also seen from volume recovery in key markets such as Maharashtra, Karnataka, UP, West Bengal in the second half of Q3 FY21. Restrictions on travel and malls have been eased, and further relaxations are expected for the on-premises channel in the months ahead
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Global Al-coholic Beverage Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Product, the market is primarily bifurcated into
The Beer segment dominated the by product and services of the global Al-coholic Beverage market and will row at x% CAGR to reach US$ x billion by the year 2027.
By Origin, the market is primarily segmented into
Amongst the origin, Indian Made Foreign Liquor (IMFL) accounted for the largest share in 2020 and is expected to grow at x% CAGR during the forecast period 2021-2027.
By Distribution Channel, the market is primarily bifurcated into
The offline distribution channel segment is dominated by end-users of the global Al-coholic Beverage market and will row at x% CAGR to reach US$ x billion by the year 2027.
Al-coholic Beverage Market Geographical Segmentation Includes:
Based on the estimation, the South India region dominated the Al-coholic Beverage market with almost US$ x billion in revenue in 2020 on account of the highest percapita consumption in the region
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The major players targeting the market includes
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Al-coholic Beverage market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
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Key questions resolved through this analytical market research report include:
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