Thursday, May 30, 2024

Global alcohol consumption falls

Global alcoholic drink volumes declined 0.7 per cent in 2015, dropping for the first time in a decade.

According to research released by Euromonitor International, the decline translated into a loss of 1.7 billion litres of alcoholic drink over the period.

Deteriorations in China, which recorded a 3.5 percent decline, and weaknesses shown by Brazil and eastern Europe, which fell 2.5 and 4.9 per cent, respectively, were most responsible for the loss. While western Europe and Australasia figures were flat, North America’s 2.3 per cent growth was a bright spot among sobering figures, where even the potential of AMEA (Asia, Middle East and Africa) was diluted by currency volatility and commodity price fluctuations.

“While terms such as authenticity and craftsmanship are losing traction, the trajectories of sophistication, moderation, perceived exotic credentials, accessibility and restrained yet grounded aspirational attributes remain the key driving forces fuelling pockets of buoyancy,” Euromonitor International Senior Alcoholic Drinks Analyst Spiros Malandrakis said.

“Premium English gin, Irish and Japanese whiskey, dark and non-alcoholic beer are the flag-bearers of growth and it is no coincidence that those also happen to be the segments gaining further momentum with the ever-important millennial demographic in mature western markets.”

Tequila and bourbon remained solid, while cognac bounced back strongly. Cider performed well, but sales have softened as Americans moved to hard soda drinks. Rum and vodka found themselves among the worst performers, while still light white and red wine varietals recovered, joining sparkling wines at healthy growth levels.

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