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North America’s growing alcoholic drinks consumption is not enough

alcoholic drinks

North America’s growing alcoholic drinks consumption in 2015 is not enough in global perspective hence the global alcoholic drinks consumption declines for the first time in a decade.

According to new research released by Euromonitor International, global alcoholic drinks volumes registered a decline of 0.7 percent in 2015, entering negative territory for the first time in more than a decade. This translated into a loss of 1.7 billion liters of alcoholic drinks volume sales since 2014.

Historic growth narratives derailed due to the influence of macro headwinds hitting China, which recorded a 3.5 percent decline. Brazil and Eastern Europe showed further weaknesses, falling 2.5 and 4.9 percent, respectively. While Western Europe and Australasia flat lined, North America’s 2.3 percent growth provided a shot of optimism in an otherwise sobering global landscape where even the potential of AMEA (Asia, Middle East and Africa) was diluted by currency volatility and commodity price fluctuations.

Spiros Malandrakis, Senior Alcoholic Drinks Analyst, 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.”

Beyond those star performers, tequila and bourbon remained solid, while cognac bounced back strongly. Cider performed well but has softened as Americans move to hard soda drinks. Rum and vodka find themselves amongst the worst performers, while still light white and red wine varietals join sparkling wines back to a healthy levels.

“While initial forecasts suggest a gradual recovery from 2016, performance will remain substandard compared to historical trajectories. It is not the industry’s vision that is impaired but rather the horizon that can be treacherous.” Malandrakis concludes.

For more information, visit: http://www.euromonitor.com/alcoholic-drinks

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