“Global Insight Services company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

The global alcoholic drinks market size was valued at USD 2.8 billion in 2022 and is expected to reach 16.8 billion by 2032 at a CAGR of 19.3% from 2023 to 2032.

Alcohol is made from the fermentation of grains, fruits, or other plants. Alcohol is a central nervous system depressant, which means it slows down the body’s functions. It can cause slurred speech, unsteady walking, and vomiting. Drinking too much alcohol can lead to blackouts, coma, and death.

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