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The research, from the Centre for Addictions in Canada, is based on 20 years of data from 1989 to 2010, and suggests that a 10 percent increase in the minimum price of an alcoholic beverage leads to a more than 16 percent decrease in its consumption compared to other beverages. Researchers argue that this, in turn, can have an impact on public health and safety.

Broken down, increasing prices of alcoholic sodas and ciders saw the biggest drop in drinkers - at nearly 14 percent less. Higher wine prices reduced consumption by nearly 9 percent, and spirits and liquers by almost 7 percent. Raising the cost of beer made the least difference - seeing only a 1.5 percent decrease.

"Beer is huge because it's the thing that consumers drink the most of, particularly by problem drinkers," says researcher Tim Stockwell. "It's a testament to the fact that the more hazardous heavy consumers of alcohol are purchasing the cheaper stuff."

Currently, Canada is one of the only countries in the world that sets minimum pricing on alcohol; however, it's a policy many others are now considering, including Australia and the US, as well as countries in Europe and the UK.