Flavored Alcohol Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company has updated all its market reports with the latest information for the year 2024, projecting trends and forecasts until 2033

LONDON, GREATER LONDON, UNITED KINGDOM, September 6, 2024 /EINPresswire.com/ -- The flavored alcohol market has experienced robust growth in recent years, expanding from $1,157.07 billion in 2023 to $1,215.43 billion in 2024 at a compound annual growth rate (CAGR) of 5.0%. The growth in the historic period can be attributed to increasing demand for low-calorie options, rise of ready-to-drink (RTD) beverages, growing interest in natural ingredients, shift to better-for-you beverages, and increasing focus on flavor variety.

What Is The Estimated Market Size Of The Global Flavored Alcohol Market And Its Annual Growth Rate?
The flavored alcohol market is projected to continue its strong growth, reaching $1,488.62 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The growth in the forecast period can be attributed to changing consumer preferences, demand for convenience drinks, premiumization trends, innovative flavor profiles, and health-conscious consumers.

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Growth Driver Of The Flavored Alcohol Market
Growing demand for ready-to-drink beverages is expected to propel the growth of the flavored alcohol market going forward. Ready-to-drink (RTD) beverages are pre-mixed, pre-packaged drinks that are consumed immediately and do not require any additional preparation by the consumer. The demand is increasing as a result of factors such as convenience, changing consumer preferences, and innovations in flavor profiles. Ready-to-drink (RTD) beverages provide a ready-to-consume format that caters to busy lifestyles and social settings, appealing to consumers who prefer quick serving flexibility. It also provides a diverse selection of flavors, attracting a wide range of consumers seeking fresh taste experiences.

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Who Are The Key Players Shaping The Flavored Alcohol Market Trends?
Key players in the flavored alcohol market include The Archer-Daniels-Midland Company, AB InBev, Diageo, Pernod Ricard, Molson Coors Beverage Company, Constellation Brands Inc., Kerry Group plc, Givaudan, Bacardi Limited, Brown-Forman, SAZERAC CO INC., Campari Group, Boston Beer Company, Edrington, Jack Daniel's Properties Inc., Heaven Hill Distillery, LUXCO INC., Beam Suntory Inc., Toshev Ltd., White Claw Seltzer Work, Hard Seltzer Beverage Company LLC.

What Are The Dominant Trends In Flavored Alcohol Market Growth?
Major companies operating in the flavored alcohol market are focused on developing next-generation innovative products, such as ready-to-drink (RTD) cocktail-style beverages, to provide consumers with an easy way to enjoy a stronger cocktail on the go. Ready-to-drink (RTD) cocktail-style beverages are pre-mixed alcoholic drinks that provide the convenience of premium cocktails in easy-to-consume packaging.

How Is The Global Flavored Alcohol Market Segmented?
1) By Type: Wine, Beer, Vodka, Rum, Whiskey, Other Types
2) By Flavor: PineApple, Passion Fruit, Black Currant, Lime, Apple, Cherry, Other Flavors
3) By Distribution Channel: Direct Sales, Modern Trade, Convenience Stores, Departmental Store, Specialty Store, Online Retailers, Other Distribution Channels

Geographical Insights: North America Leading The Flavored Alcohol Market
North America was the largest region in the flavored alcohol market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the flavored alcohol market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Flavored Alcohol Market Definition
Flavored alcohols are defined as alcoholic beverages that have been infused or flavored with natural or artificial flavors to enhance the taste and scent beyond the base spirit. The main objective of flavoring alcohol is to produce different attractive taste profiles that respond to consumer preferences.

Flavored Alcohol Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global flavored alcohol market report covering trends, opportunities, strategies, and more
The Flavored Alcohol Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on flavored alcohol market size, flavored alcohol market drivers and trends, flavored alcohol market major players, flavored alcohol competitors' revenues, flavored alcohol market positioning, and flavored alcohol market growth across geographies. The flavored alcohol market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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