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Premium alcoholic beverages market is set to top a valuation of US$1.7 trillion

The global premium alcoholic Beverages market is set to grow at a CAGR of 9.3% and top a valuation of US$1.7 Trillion by 2032. Rising consumption of premium alcoholic beverage due to their optimal quality and introduction of novel premium alcoholic beverages brands worldwide are some of the factors providing impetus to the growth of the market.

Over the years, demand for premium alcoholic beverages has risen at a healthy pace and this trend is likely to continue during the forecast period, owing to the rising disposable income, growing awareness regarding the benefits of wine consumption, rapid surge in number of wine drinkers across the world.

Similarly, increasing demand for various types of premium alcoholic beverages such as beer, rum, and wine among millennials will create plethora of opportunities for the premium alcoholic beverages manufacturers during the forecast period.

In addition to this, easy availability of premium alcoholic beverages through online shopping platforms will positively impact premium alcoholic beverages sales over the assessment period.

 

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