Indonesia Alcoholic Beverages Market Outlook (2018 to 2032)
Synopsis
The above chart is Indonesia Alcoholic Beverages Market Outlook (2018 to 2032)
Market Dynamics
Indonesia is one of the emerging economies which is forecasted to create great opportunities for the alcohol beverage industry in the upcoming years. there has been a steady rise in consumer demand for alcoholic beverages, particularly beer, over the years, in the country. the market for alcoholic beverages in indonesia is estimated to be worth around $2.7 billion in 2018, and is expected to reach a value of $3.1 billion by 2023, with a cagr of 2.63% over the forecast period (2018-2032). the key drivers of this growth are the increasing availability of innovative products, increasing disposable income, and changing consumer lifestyle and preferences. the beer segment is the largest contributor to the indonesian alcohol beverage market, accounting for a share of 64.5% in 2018. the conventional premium lager segment commanded the largest market share, while the flavored drinks segment is expected to witness the highest growth during the forecast period. the growth of the alcohol beverage market has been driven by increased disposable income and increased product availability in supermarkets and convenience stores. the rising popularity of imported alcoholic beverages among young adults is also said to be a key factor driving the growth. furthermore, there has been a shift in consumer behaviour, with consumers increasingly indulging in night-time partying activities, leading to greater sales of premium alcohol beverages at higher prices. this trend has been particularly visible with the rise of microbreweries in recent years. the outlook for the indonesian alcohol beverage market is positive and expected to grow steadily in the upcoming years. factors such as increased consumption of premium alcoholic drinks, changing consumer preferences, rising disposable incomes, and increased product availability, are anticipated to drive greater growth in the industry. in addition, government initiatives such as taxation reforms are expected to further fuel growth. companies, particularly domestic ones, are expected to leverage these opportunities to expand their market share and profitability.
