Germany Alcoholic Beverages Market Outlook

Synopsis
The above chart is Germany Alcoholic Beverages Market Outlook (2018 to 2032)

Market Dynamics

The german alcoholic beverages market is likely to experience significant growth over the next decades, with a projected cagr of over 2% between 2018 and 2032. this growth is largely driven by a growing german population, an increase in disposable incomes, a shift in consumer preferences and a more favourable regulatory environment. the beer segment holds the largest share of the german alcoholic beverages market, accounting for close to 60% of total sales in 2018. germans are no strangers to beer consumption, and the diversity of malt beer, wheat beer, lager and other beers is well appreciated. craft beers are becoming increasingly popular, and microbrewers are emerging as well. the 2018 fifa world cup was a major contributor to the growth of the beer segment during the year. the wine segment is the second-largest contributor to the german alcoholic beverages market, accounting for over 20% of sales in 2018. wine consumption in germany is growing steadily, mainly due to the increasing number of young consumers. private consumption has seen steady growth, and sales of premium wines have increased significantly. the sparkling wine segment is also experiencing healthy growth, particularly during special occasions. germany is a major producer and exporter of spirits, and the spirit segment accounts for a significant share of the alcoholic beverages market. spirits such as schnapps, vodka, whiskey, and gin are popular in the country. craft distilleries are gaining popularity as well. the vodka segment has seen the most significant growth in recent years, driven by a broad consumer base and a diverse range of flavoured products. with the number of older adults (above 65 years) in germany expected to double from its current level to 33 million by 2032, the non-alcoholic beverages segment is likely to experience significant growth. this trend is driven by the consumer preference for lower- and no-alcohol alternatives. a growing number of health-conscious consumers, increased awareness of the effects of alcohol, and rising regulatory restrictions on alcohol consumption are providing a healthy market for non-alcoholic drinks. overall, the german alcoholic beverages market is likely to continue its growth over the next decade, driven by favorable changes in regulations, a growing population and shift in consumer preferences.