Alcoholic Beverages Market is Gaining Major Traction as Remy Cointreau Enters into Distribution Agreement with Southern Glazer’s Wine & Spirits for Distribution in New York

 

An alcoholic beverage is simply a liquid beverage that contains alcohol, a form of carbohydrate produced from yeast, fruits, grain, or other organic sources of sugars. The consumption of alcoholic beverages plays an important cultural role in most societies. However, these laws vary greatly from country to country, province to province, and even from city to city within a metropolitan area. Some places have more lenient laws than others regarding alcohol sales and consumption, while others have more stringent regulations in place. Alcoholic Beverages can also include the following: Blended alcoholic beverages; Vodka; Gin; Bourbon; Liquorice; Tequila; Sherry; vodka; gin, brandy, and whiskey. The amount of alcohol in any one of these beverages is the same

Rising disposable income is expected to drive growth of the global alcoholic beverages market. Disposable income across the globe in both developed and emerging economies has increased significantly over the years. According to the Organisation for Economic Co-operation and Development (OECD), in 2017, the gross adjusted disposable income in the U.S. was US$ 50,444 per capita increasing from US$ 45,960 per capita in 2014. As a result of this, the spending capabilities of consumers on leisure activities have increased. Thus, these factors are expected to drive growth of the global alcoholic beverages market. Furthermore, rise in consumer demand combined with increase in the global young-adult demographic is expected to boost the global alcoholic beverages market in the near future. Launch of novel products is expected propel the global alcoholic beverages market. For instance, in February 2020, Sula Vineyards launched the first canned wine Dia Sparkler in a 330 ml can. `

However, high cost of premium products and increase in health concerns is expected to hamper the global alcoholic beverages market growth. Among regions, Europe is expected to witness significant growth in the global alcoholic beverages market during the forecast period. This is owing to increasing penetration of high consumption of alcoholic drinks across the globe. Furthermore, North America is expected to register a robust growth rate over the forecast period, owing to the strong demand for alcohol in the region.

Key companies operating in the global alcoholic beverages market are Bacardi, InBev, SABMiller, Diageo, Remy Cointreau, Carlsberg, Remy Cointreau, Heineken, and Pernod Ricard.

For instance, in February 2020, Southern Glazer’s Wine & Spirits entered into a distribution agreement with Remy Cointreau USA for distribution in New York.