The market value of the spirits category in Spain saw a decline of 2.5% in 2019, according to a report in distribucionactualidad.com.
The report, based on forecasts published by Observatorio Sectorial DBK Informa, also highlighted that whiskey, rum, and gin were the 'most affected' categories.
In 2018, the spirits category reported a turnover of approximately €1,660 million, down 3% on the previous year.
Decline In Consumption
DBK de Informa attributed this decline to a decline in the consumption of alcoholic beverages and price stagnation, the report added.
Whiskey, which represents 28.9% of the spirits category value in Spain, saw a decrease in sales of €480 million in 2018.
The turnover of gin remained unchanged at €365 million, holding 22% of the total market share in the same period.
Sales of rum fell to €290 million and accounted for 17.5% of the total market share, the report said.
The value of exports of high-grade beverages grew by 12.5% in 2018 to €648 million, resulting in a drop in the trade deficit for the sector by 40%, or €209 million, compared to 2017.
Outlook
The report predicted that, in the short term, the market value for the spirits category is likely to decline.
However, the study also forecasts 'greater stability' for the sector in 2020-2021.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.
