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THE CONSUMPTION OF ALCOHOLIC DRINKS RETURNS TO GROW

According to International Wine and Spirits Research, the consumption of alcoholic beverages will grow by 2.9% by the end of the year.

Global alcohol consumption is back on track and by the end of 2021, according to the latest Iwsr forecasts, it will grow by + 2.9%. To return to pre-Covid levels, however, we will have to wait until 2023“.

Although in the past year there was a decline of about 6% due to the closure of bars and restaurants, excellent results are expected for 2021. In 2020, the trend was negative, but still lower than forecasts. The factors that contributed to slowing down the negative trend were the acceleration of e-commerce (+ 45% compared to 2019, for a value of $ 29 billion), strong domestic consumption, the growth of ready to drink and the resilience of the US and China. “The ISWR expects that premium wine and spirits will see their volumes increase by + 25.6% in the 2020-2025 period, while in the same period the products of lower price ranges will not go beyond +0.8 %“.

Wine, especially still wine, has been the alcohol of choice in some key markets during the various lockdowns. Despite the wine market in 2020 we recorded a decline in both value and volume, in some countries such as the USA, Canada, UK and Brazil the volumes have nevertheless increased. “In Brazil still wine grew by + 28%, driven by an increase in imports of higher quality and increasingly affordable prices“.

The rise of gin continues, destined to grow by 4.5% annually until 2025, while the consumption of vodka remains stable and ready to drink will grow in volume by 27% in 2021. Finally, beer has been the category most exposed during the lockdown, losing 7.1% of volumes globally in 2020. However, a recovery of + 2.5% is expected in 2021, with the exception of the USA”.

The complete Wine News article is available here.

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