Worldwide sales of alcohol by value were up 12% in 2021, according to figures released this week.
For the 12-month period, global beverage alcohol sales hit US$1.17trn, drinks market analysis provider The IWSR said yesterday. The increase contrasts with the 4% year-on-year slide in value terms during COVID-hampered 2020.
On a volumes basis, however, alcohol sales rose by just 3% in 2021, compared to a 6% decline in the year prior.
While the beer, cider and international spirits categories did not reach 2019’s volumes totals last year, the three have either matched or overtaken 2019 in value, according to IWSR. The wine category was ahead in value last year, although volumes are expected to continue their decline.
The data provider predicts the global beverage alcohol market will overtake 2019 volumes within the next two years.
“Our latest data shows encouraging signs for the continued recovery of beverage alcohol,” said CEO Mark Meek. “The market rebounded far more quickly than expected and, in value terms, 2021 is now above 2019. Premiumisation continues unabated; beverage alcohol e-commerce also continues to grow, although at a more moderate rate, and the trend towards moderation continues, with no- & low-alcohol products seeing ongoing growth from a relatively low base.
Looking forward, IWSR forecasts that volumes over the next five years will deliver a compound annual growth rate (CAGR) of “just above” 1% as COVID-related restrictions continue to ease around the world.
“Despite the industry’s current and future challenges – ongoing supply-chain disruptions, inflation, war in Ukraine, travel retail’s slow return to pre-2019 levels, and China’s ‘zero-COVID’ policy – beverage alcohol is in a strong position,” Meek concluded.
For more details on IWSR’s five-year forecasts for beverage alcohol, see the next issue of Global Drinks Intel magazine – Click here for subscription details
