Alcohol is a depressant, which in low doses causes euphoria, reduces anxiety, and improves sociability. In higher doses, it causes drunkenness, stupor, unconsciousness, or death. Long-term use can lead to alcohol abuse, physical dependence, and alcoholism. Alcohol is one of the most widely used recreational drugs in the world with about 33% of people being current drinkers.
The global alcoholic beverages market was valued at $1,439 billion in 2017, and is expected to reach $1,684 billion by 2025, registering a CAGR of 2.0% from 2018 to 2025. Most cultures across the globe have traditionally consumed various types of alcoholic beverages; however, local specialty alcoholic beverages account for the majority share. Only a small number have evolved into commodities that are produced commercially on a large scale.
The demand for alcoholic drinks is growing at a faster rate in emerging countries, like India, China, Indonesia, and Singapore. This is driving the demand for alcoholic drinks industry. The growing demand for premium alcoholic beverages is considered to be one of the primary drivers for this market. Efforts by alcoholic beverage manufacturers for strengthening distribution channels and extension of purchase channels, such as online stores, and convenience stores, is also contributing substantially to the growth of the global alcoholic beverages market.