Global alcohol consumption is predicted to grow in value by $79 billion (€68 billion) over the next four years, according to the latest International Wine and Spirits Record (IWSR) 2018-2022 forecast.
The report also predicts that alcohol consumption will grow by 147 million nine-litre cases to reach 28 billion cases by 2022.
Bright Future For Wine And Spirits
Wine is expected to see the highest level of growth, amounting to 39 million cases, closely followed by spirits at 37 million cases.
Still and sparkling wine will lead growth in the wine category, while the market for fortified, light aperitifs and other wines will decline.
According to the report, USA, Russia and Brazil will emerge as the largest-growing markets for still and sparkling wine between 2017 and 2022.
Beer Market Value To Grow
The report predicts an upward curve for the beer market in 2018, after a slower performance in many markets in 2017.
The category is set to see volume declines between now and 2022, but value sales will rise.
The decline in domestic beer consumption in China, the US and Russia are believed to be the main reason behind the drop in volumes.
A Mixed Bag For Spirits
Strong global growth in spirits has been predicted for whiskey, followed by gin and genever, and agave-based spirits.
Vodka is expected to witness the largest decline in the period, mainly due to falling demand in Russia.
Demand for rum and brandy is also expected to decline because of fewer options in low-priced brandy and value rum.
However, all is not so gloomy as spirits categories are expected to grow in the premium-and-above segment.
USA Will Continue To Be A Key Market
The US will continue to be a key market driving growth in wine and spirits category.
The gin market in the UK will continue to boom, while France is predicted to be the lead growth market for rum.
Beer consumption is forecast to increase the most in Vietnam, Mexico, and Brazil, while Germany will lead growth for low-alcohol beer.
Romania is poised to show top growth for cider, while Japan will continue to lead mixed drinks growth.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.
