Evolve Business Intelligence has published a research report on the Global Alcoholic Soft Drinks Market, 2023–2033. The global Alcoholic Soft Drinks market is projected to exhibit a CAGR of around 5.87% during the forecast period of 2023 to 2033.
Evolve Business Intelligence has recognized the following companies as the key players in the global Alcoholic Soft Drinks Market: Fling Craft Cocktails, Crooked Beverage Co, Arctic Summer, Drty Drinks, Bloody Drinks, Long Shot Drinks, Lilo Beverages, Pampelle, Amìo Spritz, Ace Joker Cider.
Market Highlights
The Global Alcoholic Soft Drinks market is projected to be valued at USD 21.74 Billion by 2033, recording a CAGR of around 5.87% during the forecast period. Alcoholic soft drinks, also known as alcopops or flavored alcoholic beverages (FABs), are beverages that combine the characteristics of soft drinks with the addition of alcohol. These drinks typically have a lower alcohol content compared to traditional spirits or beer, making them more approachable to consumers who prefer milder alcoholic beverages. Alcoholic soft drinks often come in various flavors and are popular among young adults and individuals seeking a sweeter and more flavorful alcoholic option. They can include ingredients like carbonated water, fruit juices, flavors, sweeteners, and a base of distilled spirits or fermented alcoholic beverages. Examples of alcoholic soft drinks include flavored malt beverages, pre-mixed cocktails, and ready-to-drink (RTD) beverages.
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The COVID-19 pandemic had a notable impact on the Alcoholic Soft Drinks market, resulting in a mixture of challenges and opportunities. With restrictions on social gatherings, the closure of bars and restaurants, and reduced public events, the demand for Alcoholic Soft Drinks experienced a decline as consumers had limited opportunities for socializing and partying. The closure of on-premise establishments and restrictions on alcohol sales in some regions further impacted the market. However, the pandemic also led to shifts in consumer behavior, with individuals opting for at-home consumption and seeking convenient and ready-to-drink options. This trend resulted in an increased demand for packaged Alcoholic Soft Drinks that could be enjoyed in the comfort of one’s home. Additionally, the e-commerce channel witnessed growth, with more consumers purchasing Alcoholic Soft Drinks online. Overall, while the market faced challenges due to pandemic-related restrictions, it also saw opportunities emerging from changing consumption patterns and the growing preference for home-based entertainment.
Segmental Analysis
The global Alcoholic Soft Drinks market has been segmented based on Product Type, and Distribution Channel.
Based on Product Type, the Alcoholic Soft Drinks market is segmented into Beer-Based Soft Drinks, Cider-Based Soft Drinks, and Spirit-Based Soft Drinks. The Spirit-Based Soft Drinks segment is expected to have a larger market share throughout the forecast period.
Based on Distribution Channel, the global Alcoholic Soft Drinks market has been divided into Bars, Pubs and restaurants, Retail stores, and Online platforms. The Retail store segment is anticipated to dominate the market.
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Regional Analysis
The Alcoholic Soft Drinks market is divided into five regions: North America, Europe, Asia-Pacific, South America, and the Middle East, & Africa. In North America, the market for Alcoholic Soft Drinks has seen growth with the popularity of flavored malt beverages and ready-to-drink cocktails. Europe has a mature market for these beverages, with a wide range of options available and a strong demand for innovative and premium offerings. The Asia-Pacific region has witnessed significant growth in recent years, driven by the rising young adult population, increasing disposable incomes, and evolving consumer preferences. South America has a growing market for Alcoholic Soft Drinks, with flavored alcoholic beverages gaining popularity among consumers. In the Middle East & Africa region, the market for Alcoholic Soft Drinks is relatively nascent, but there is increasing demand for these beverages as consumers seek variety and novelty. Understanding the regional variations and preferences is essential for companies operating in the Alcoholic Soft Drinks market to tailor their products and marketing strategies accordingly.