Europe Alcoholic Beverage Market Size, Share & Growth | 2022-27

 

Market Overview:

A 3.5% CAGR is anticipated for the European alcoholic beverage market during the forecast period (2022–2027).

The COVID-19 pandemic has had a profound and quick impact on economies, corporations, and societies all over the world. The widespread lockdowns in Europe have also had an effect on the alcoholic beverage industry. The European beverage industry faced numerous challenges even before the COVID-19 crisis. As Europe’s population ages and younger age groups drink less alcohol, beer consumption has been declining in developed markets for many years. For instance, the Brewers of Europe reported that beer sales in Europe fell by 42% in 2020.

Consumers choose pricey alcoholic beverages as a result of economic expansion and product innovation. The introduction of new products and advancements in alcoholic beverages are driving the industry’s growth. Because of the shifting consumer preferences, businesses are releasing innovative products.

Scope of the Report:

A beverage that contains ethanol, also known as alcohol, is referred to as an alcoholic beverage. The three main categories of alcoholic beverages are beers, wines, and spirits. The European alcoholic beverage market is divided into sections based on product type, channel of distribution, and nation. Beer, wine, and spirits are the market segments according to product type. The market is divided into on-trade and off-trade segments based on the distribution channel. Supermarkets/hypermarkets, specialty shops, online stores, and other off-trade channels are further divided into the off-trade segment. The market is divided into sections for the UK, Germany, France, Italy, Spain, Russia, and the rest of Europe based on country. Market analysis and forecasting have been conducted for each segment in terms of USD million.

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