Beverages are the portable drinks which have thirst such as refreshing, quenching, nourishing, and stimulating qualities. Most of the beverages supply energy in the form of sugar or alcohol. Alcoholic beverages are an odorless liquid obtained from the fermentation of a sugar-containing liquid. It affects the central nervous system and helps in reducing tension and worries. Any beverage containing 55% to 70% of alcohol is considered to be alcoholic beverages. Nowadays, the alcohol industry is largely engaged in the search for market growth through innovation in drinks. Therefore, companies are trying to develop new possible varieties of flavors to the alcoholic beverages and searching for the innovative ideas to encourage more people to drink along with increase customer base by improving the taste of traditional alcoholic beverages. There are various ways to enhance the alcoholic beverages by using fruit flavors. For instance, today, herb tones are getting more attractive in the beverage industry, thus various herbal flavors are being added to the alcoholic beverages. The preferable herb flavor in the alcoholic beverages is ginseng which helps in reducing stress, enhance energy level, improve concentration, memory, and stamina, and much more.
Fruit Flavored Alcoholic Beverages Market: Drivers and Restraints
Growing food and beverages industry, expanding demand for healthy drinks, high disposable income, changing consumer tastes as well as preferences, increasing consumption per consumer, and growing health awareness among consumers are some of the primary factors driving the growth of the global fruit-flavored alcoholic beverages market. The companies are trying to introduce new varieties of fruit flavors to enhance customer base is expected to surge in the revenue growth of fruit-flavored alcoholic beverages market in the near future. Moreover, consumers are shifting from high alcohol content beverages to low alcohol content beverages and expanding the popularity of fruit-flavored alcoholic beverages among the young population is another significant factor growing the fruit-flavored alcoholic beverages market over the forecast period. However, government stringent regulation such as curb the underage drinking to protect adolescent and young adults, high taxation, high cost of premium or super premium fruit-flavored alcoholic beverages, and ban of alcohol from supermarkets in some regions coupled with growth of non-alcoholic beverages may limit the growth of the fruit flavored alcoholic beverages market during the forecast the period.
Fruit Flavored Alcoholic Beverages Market: Segmentation
The fruit flavored alcoholic beverages market has been classified by alcohol type, packaging, and distribution channel.
Based on alcohol type, the fruit flavored alcoholic beverages market is segmented into the following:
Based on packaging, the fruit flavored alcoholic beverages market is segmented into the following:
Based on distribution channel, the fruit flavored alcoholic beverages market is segmented into the following:
Fruit Flavored Alcoholic Beverages Market: Overview
Fruit flavored alcoholic beverages market revenue is expected to grow at a rapid growth rate, over the forecast period. The market is projected to perform well in the near future owing to extensive use of essential oils such as citrus oil in beverages for flavoring. The citrus flavor such as orange juice or lemon is mainly used in beer cocktails especially with wheat beer. Additionally, growing popularity of herb tones in beverage industry due to which increasingly herbal flavors are being introduced to the drinks are the main factors that can propel the market revenue growth of fruit-flavored alcoholic beverages in the near future. Based on distribution channel, hyper/supermarket segment is projected to lead the global fruit-flavored alcoholic beverages market over the forecast period attributed to the high availability of wide variety of products under one roof and are quite larger than specialty stores with low prices and many discounts or deals.
Fruit Flavored Alcoholic Beverages Market: Region-wise Outlook
Depending on the geographic region, the fruit flavored alcoholic beverages market is classified into seven key regions: North America, Eastern Europe, Latin America, Western Europe, Japan, Asia-Pacific, and the Middle East & Africa. Europe is expected to be the leading markets in the global fruit-flavored alcoholic beverages market followed by North America owing to high consumption of alcohol beverages which has created a substantial demand for flavored alcoholic drinks, high demand for premium flavored alcohol along with companies are introducing natural fruit flavored based alcoholic beverages. Moreover, the owing to mature market the consumers are willing to buy new flavored beverages. Japan fruit-flavored alcoholic beverages market is expected to account healthy CAGR during the forecast period owing to expanding the popularity of healthy flavored alcoholic beverages and growing trend for cocktails in bottles. The market in Asia-Pacific is projected to have the fastest growth in the global fruit-flavored alcoholic beverages market over the forecast period due to increasing demand for ready to drink flavored alcoholic beverages and frequently lunch of new fruit-flavored beverages along with generating a supply chain driven demand in the market. MEA is expected to witness the significant growth rate in the global fruit-flavored alcoholic beverages market due to the entrance of new players in the market and offering products at affordable price.
Fruit Flavored Alcoholic Beverages Market: Key Players
Some of the prominent players in the fruit flavored alcoholic beverages market are Accolade Wines Ltd., Molson Coors Brewing Co., Arbor Mist Winery, E & J Gallo Winery, Anheuser-Busch Companies, LLC, Brown-Forman Corp., Carlsberg A/S, Bacardi Limited, Beam Suntory Inc., Pernod Ricard SA, SABMiller PLC, Heineken Holding NV, Asahi Breweries Ltd., Tsingtao Brewery Co. Ltd., Treasury Wine Estates, The Wine Group, Inc., and others.