Globally, spirits declined by 2% in quantity consumption in 2022, this was principally resulting from low-priced baijiu in China.
Cognac noticed a ten% quantity loss globally, resulting from declines in its two key markets, the US and China.
Gin is now in long run decline within the UK, and has misplaced momentum in lots of its earlier progress markets equivalent to Brazil, South Africa and Australia, whereas future gin progress will probably be pushed by international locations such because the Philippines and Nigeria.
Premiumisation in whisky will probably be a key progress driver for the general spirits class, the IWSR reported, with the premium-plus phase forecast to develop by 4% quantity CAGR from 2022-2027.
Agave spirits are nonetheless seeing demand with an total class progress of 13% in 2021-2022, pushed by efficiency within the US.
World beer volumes grew 3% in 2022, resulting from sturdy efficiency in markets together with India, Vietnam, Mexico and China, amongst others. The class is predicted to develop at slightly below 1% quantity CAGR in 2022-2027.
The 2 largest international beer markets, China and the US, will maintain again total progress, resulting from quantity declines on the lower-priced merchandise.
Nonetheless wine misplaced quantity in each prime 10 market in 2022, the class noticed volumes decline 5% in 2021-2022, as progress will stay flat over the subsequent 5 years. Nonetheless, glowing wine has a extra optimistic outlook, forecast to develop 2% quantity CAGR 2022-2027.
RTDs grew 2% by quantity in 2022, in comparison with historic progress of 20% quantity CAGR in 2018-2021. The class is predicted to develop 3% quantity CAGR in 2022-2027.
The no-alcohol class grew 8% in 2022, and is forecast to proceed to develop, with a trajectory of seven% quantity CAGR in 2022-2027.
Mark Meek, CEO, IWSR, mentioned: “As geopolitical and financial turbulence impacts the market, alcohol drinkers are shifting their consumption behaviours. The important thing traits which have underpinned the trade, equivalent to premiumisation, will evolve as customers reply to the elevated value of dwelling disaster.
“The trade will, nonetheless, nonetheless ship pockets of great worth progress. The pandemic additionally accelerated the rise of traits such because the at-home event and moderation; these behaviours at the moment are right here to remain,” Meek added.
