Sweden Alcoholic Beverages Market Outlook (2018 to 2032)
Synopsis
The above chart is Sweden Alcoholic Beverages Market Outlook (2018 to 2032)
Market Dynamics
the sweden alcoholic beverages market has been showing a positive outlook in recent years, mainly due to the rise in disposable incomes of consumers, increase in wine imports, and positive growth of the hospitality sector. the alcohol consumption market has been driven by the large number of consumers exploring different flavors and types of alcoholic beverages. in 2018, the alcohol consumption market in sweden was valued at usd 5.45 billion. in terms of volume, overall alcohol sales in sweden stood at 7.3 liters per capita in 2018, indicating a slight increase compared to 6.9 liters per capita in 2017. the rising trend of online retail has been helping the market achieve higher growth, as it has enabled more convenient access and purchase of the alcoholic beverages in sweden. also, the increasing trend of home delivery of alcohol has been further supporting the growth of the market. the resurgence of old world flavors and craft beer have further fueled the demand for the alcoholic beverages in the country. the sweden alcohol beverages market is expected to experience growth in the forthcoming years to 2032 with an expected cagr of 2.3%. the major drivers for this growth can be attributed to the rising preference of consumers for craft beers, new flavors, and imported alcohol. aging population and launch of innovative products by manufacturers in the country are also expected to support the market growth in the future. for instance, the market is anticipated to see inflationary growth due to the growing popularity of craft beer and ciders in sweden as more consumers are expected to explore the unique flavors of the craft beers and ciders. moreover, the increasing acceptance of trendy and flavored drinks, like prosecco and rtd drinks, will also be contributing to the growth of the alcoholic beverages market in the country. nevertheless, there are several challenges faced by the market, such as stringent government regulations on alcohol consumption, operations, and sales. additionally, the rising health-consciousness among the population, along with the increasing trend of alcohol-free gatherings, will be challenging the growth of the swedish alcoholic beverages market. despite these challenges, the liquor industry in sweden is increasingly evolving, with the emergence of several emerging products. the growth of the alcoholic beverages market is expected to continue, driven by the rising popularity of craft beers and spirits, and the launch of various new alcoholic beverages in the country. it is estimated that the alcohol consumption market in sweden will reach usd 6.3 billion by 2032.
