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The Rise in Popularity of Premium Drinks to Drive the Alcohol Beverages Market

Published Date: 04th May 2022

Having a sip of wine after a long day at the office or while hanging out with your friends at a nightclub is probably the most relaxation & fun you get. And let's be honest, we deserve it after all the hustle. Alcoholic beverages have been around for several thousand years now. Today, they have gained immense popularity, especially among millennials & the GenZ. In fact, evolution in the flavoring, processing techniques, crafting, & experimenting with these beverages are among the prominent contributors to the rapid traction and growing consumption of alcohol worldwide.

With the expanding commercial sector, i.e., showcasing a growing presence of cafes, bars, restaurants, & hotels, among others, coupled with the improving buying power of people, the demand for alcoholic beverages is rapidly escalating throughout the world. Beverage craftsmen are constantly experimenting with different blends for customers to remember the tingly taste & make them come back for more. 

Due to these factors, the Global Alcohol Beverages market is expected to register around 3.2% CAGR during 2022-27. There are numerous options to mix & create, yet, at some point, it becomes crucial to know a little about the different types of alcohol widely consumed by people. Therefore, let us read the blog until the end to find more:

Some Prominent Types of Alcohol Beverages

Popularly, there are three types of alcoholic beverages, with different alcohol content & taste: 

  • Beer
  • Wines
  • Spirits

Among all of these, Beers are the most commonly & extensively consumed alcoholic beverages, and you can easily find them across both on-trade & off-trade sales channels. Undoubtedly, the way we drink beverages is evolving, and the population of beer lovers is pretty exponential. In fact, after the consumption of water & tea, beer is the most popularly consumed & preferred drink in the world. Even if you back to the oldest dates in history, you will find beer, especially ale, as the oldest drink in the years. 

On the other hand, Wines are nowhere behind the popularity of Beer across the world. Although there was a time when wines were mostly consumed by the royalties or rich men, things have changed today. With the swift evolution of beverages and the growing economic standards of the people, wines are widely consumed across different corners of the world.

In fact, a prominent portion of consumers are women, and it is majorly due to the health benefits of drinking wine as it offers antioxidants, promotes longevity, & reduces the possibilities of heart disease & harmful inflammation. Besides, its natural fondness, excellent taste, and nutritious properties, among others, are the crucial reasons why wins are widely popular among people. Moreover, wines are also seen as a representation of the culture of different countries, opening up channels for religious, philosophical, and traditional ideas. 

Spirits are the distilled alcoholic drink that was initially a medicinal liquor made by the monks & alchemists across Europe and derives their predominant flavor from juniper berries. Spirits are one of the most highly versatile alcohols among all and offer an extensive range of applications across the food & beverage industry. As a result, its demand & popularity is accelerating dramatically across regions and has been rapid, especially in the last decade. 

A Sneak-Peek into the Different Varieties of Spirits

Talking the Spirits, there are several types in the market, and the most popular categories are listed below. Let's have a look to learn a little bit more about spirits.

  • Gin
  • Vodka
  • Tequila
  • Whisky
  • Brandy
  • Rum

Gin is extensively used across several commercial places like pubs, bars, cafes, restaurants, etc., to experiment with the cocktails & expand the beverage menu. The most popular types of gin are London Dry, Old Tom, New American, & Plymouth. While gin has just begun to gain popularity among people, it is likely to go way ahead in the coming years and become a prominent choice among the drinkers. 

When we think of a boozy night and a straight blackout after heavy drinking, tequila is probably one on the list. The main ingredient of this spirit is the Mexican Agave Plants which exhibit about 40% of alcohol concentration. 

Brandy is more like distilled wine with a concentration of around 35% to 60% alcohol, whereas whisky is a fermented drink made from grains and has around 40% of alcohol content. 

Coming the popular winter remedy, Rum, is another popular spirit that is made from fermented sugarcane or molasses, and we think the makers were surely on something when they decided to ferment everything and make it a drink. Yet, thanks to them that we have Rum today!!

The most popular spirits that come to mind when you hear "SHOTS" are at most times Vodka. It is one of the most popular & versatile spirits and has even surpassed the popularity of whisky, to say it. The alcohol concentration of Vodka is 40% alcohol by volume. 

Wrapping Up

All the factors cited above indicate that the Global Alcohol Beverages Market is all set to witness notable expansion in the coming years, mainly on account of the growing popularity of different alcoholic drinks across different corners of the world. It further projects several lucrative opportunities for the leading players in the industry to introduce new varieties of alcoholic beverages to suffice the increasing consumer requirements worldwide.

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