The global premium alcoholic beverage market size is calculated at USD 433.19 billion in 2024 and is predicted to reach around USD 1,035.91 billion by 2034, expanding at a CAGR of 9.11% from 2024 to 2034.
The premium alcoholic beverages market deals with several innovative products like augmented reality labels, personalized cocktails, smart bottles, craft beers, and artisanal spirits with unique flavors and brands. The production of unique, promising, and locally sourced liquor with a premium taste boosts the demand for premium products. The demand for whiskey, a premium alcohol type with a unique flavor profile and the aging process is expected to rise over the forecast period. The increase in craft distilleries and the growing demand for premium and ultra-premium spirits also support the surging demand for whiskey products. The compatibility of whiskey with other flavors and ingredients made it popular and preferred among millennials and mixologists. Bacardi Limited, Miller Coors, Diageo Plc, etc. are the leading industrial players in this market.
Moreover, the potential features of bottles in protecting from light and oxygen keeping the intact freshness of contents, and keeping flavor and taste make them the perfect choices for packaging. In the USA and Europe, glass bottles are culturally related to premium and luxury products which improves the sales of alcoholic beverages in glass bottles. Furthermore, Japan leads in the premium alcoholic beverages market due to the production and sales of several premium alcoholic drinks adding taste to the liquor industry. The luxurious brands of these products in China, the rich tradition of crafting alcoholic beverages in India, new formulations of premium and luxurious liquors in the U.S., and customization and health awareness in Germany are creating opportunities for premium liquors and related products.
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| Stats ID: | 7797 |
| Format: | Databook |
| Published: | January 2025 |
| Delivery: | Immediate |
| Price | US$ 1550 |
| Stats ID: | 7797 |
| Format: | Databook |
| Published: | January 2025 |
| Delivery: | Immediate |
| Price | US$ 1550 |
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