Here’s to the Future :
How will the global market be consuming beverages in 2022?
A report from the trusted drinks market analysis team at IWSR beeped on our radar recently. Their global report drills deep into the growing trend of
- mindful drinking among Millennials,
- an emerging ‘Less, but better’ consumption pattern
- how spirits are building aspirational appeal across the consumer base, partly fuelled by the growing craft sector.
Some key takeouts from IWSR’s Forecast Report:
“Product innovation, particularly flavour innovation, is helping to entice new demographics into spirits, particularly women.”IWSR
US whiskey is forecast to be one of the fastest growing spirits categories over the forecast period, growing with a Compound Annual Growth Rate of 4.8%. A growing global interest in brown spirits, the popularity of major US whiskey brands and increased exploration of craft brands are fuelling growth of US whiskey across the majority of markets
Good news for a great brand like Southern Comfort. 😉
Mixed drinks, beer & cider
Mixed drinks will experience the largest volume gains, with an additional 25.9m cases consumed annually by 2022.
Still & Sparkling wines
- The still wine category is forecast to grow to 2.4bn cases as global consumption increases by over 35m cases by 2022.
- Sparkling wine is set to outperform the rest of the wine market as the category records a 1.6% CAGR across the forecast period.
- Champagne is also expected to perform solidly with a CAGR of 1.5%, recording volume growth across all major regions.
Read more about forecasts for other alcohol categories in IWSR’s drinks market 2022 analysis here.