South Africa Alcoholic Beverages Market Outlook

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

Market Dynamics

The south african alcoholic beverages market is expected to witness a fairly significant growth over the period of 2018 to 2032. according to analysts, the market is expected to experience a cagr of 4.2% over the aforementioned period, mainly due to the rising consumption of alcoholic beverages among the ever-increasing population in the region. factors such as growing disposable incomes, increased marketing activities of key players, increasing consumer’s preference for premium alcoholic beverages, and the rising popularity of craft beer are expected to contribute to the market’s growth. the market is driven by the vast availability of a variety of alcoholic beverages like wine, spirits, beer, and ciders across the various distribution channels. wine and beer remain the most popular categories in south africa, with the latter constituting over half of the total volume of total alcohol sold in the country. moreover, the rising demand for locally bottled wine is expected to offer lucrative opportunities to the market players. south africa is the eighth-largest producer of wine in the world, accounting for 1.93% of the global volume in 2019. craft beer is continuing to be popular among the younger consumer groups, further fuelling the demand for novel flavors. in terms of the regulatory environment, south africa has adopted stringent laws for the consumption and sale of alcoholic beverages, which are expected to drive the average prices of alcoholic beverages in the country. major players such as distell group, anheuser-busch inbev, and diageo are expected to continue to consolidate their positions in the market. overall, the south african alcoholic beverages market is expected to experience moderate growth from 2018 to 2032. the rise in the number of on-trade outlets and the increasing availability of product innovations are further anticipated to have a positive effect on the market’s growth during the forecast period.