The Market for Alcoholiic Beverages

ECON 1101 - Alcoholic Beverage Market The key objective of this research is to find differences in economic factors, prices, income to explain the difference in alcohol consumption. The impact of price and income on consumption is measured by elasticity including price elasticity. The price elasticity of demand is the elasticity used in economics to indicate the demand of goods compared to its price change and other conditions remain unchanged.

When discussing alcoholic beverages, India is considered the third largest alcoholic beverage market in the world. The domestic beer and alcoholic beverage market is dominated by United Breweries, Mohan Meakins and Radico Khaitan. Demand for beer and spirits is estimated to be about 373 million a year. There are 12 joint ventures with an annual production volume of 33,919 kiloliters for the production of cereal alcoholic beverages. About 56 cars are producing beer under the permission of the Indian government

Besides organic coffee, tea and dairy products, beverages account for over 75% of the world's organic beverage market. However, in terms of demand and growth, these beverages have been in the market for a while and the markets for these beverages are stagnating because there is little or no development of new products. On the other hand, other segments including beverages that do not contain wine and beer are attractive markets and are expected to lead the organic beverage market over the next six years. Organic beer and wine are the most attractive segments in the organic beverage market and are expected to grow at a relatively high growth rate of 24.5% between 2013 and 2019.

Coca-Cola, Pepsi and other beverage companies are working to expand alternative beverage markets by launching energy drinks, sports drinks and vitamin drinks in more and more emerging international markets. Beverage producers have made various attempts to expand the scale of alternative beverage markets by expanding existing product lines and developing new products. Expansion of market for alternative drinks, expansion of sales and market share, beverage manufacturers also said that energy drinks, energy injection and relaxing drinks are reckless behaviors that satisfy some people's criticism of bringing health risks to consumers, The main focus of most energy drinks, sports drinks, and vitamin-enhanced beverage manufacturers is how to maximize the competitiveness in the market.