Top Trends in Alcoholic Drinks

August 2024

With the global alcohol industry performance in negative territory and still lingering macroeconomic and geopolitical risks on the horizon, what are the key trends providing opportunities, cautionary tales and glimpses of the future amidst the challenges?

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Key findings

A state of permacrisis takes its toll but green shoots are on the horizon

Geopolitical upheaval and inflationary spikes leading to an acute cost-of-living crisis inevitably derailed the short-lived post-pandemic boom and supressed performances across the board. First signs of a renewed if tentative recovery are now visible but significant downside risks remain. 

On-trade remains in positive territory but loses most of its post-pandemic momentum

Global on-trade volumes still stand 10% lower than their pre-pandemic peak, facing generational shifts in drinking patterns and the channel is the most vulnerable to any further economic or political shocks.

Premiumisation retains its overall relevance but first dents to narrative appear

While aspirational consumption and ever more sophisticated drinking patterns have proven to be remarkably resilient in the face of the cost-of-living crisis, signs of eclectic trading down and across and loss of some momentum for high-end offerings become visible.  

No/Lo, spirit-based RTDs and sparkling wine lead fastest-growth segments 

The advancing and rapidly evolving mindful drinking trend, the latest iterations of the chameleonic RTD segment and the affordability credentials of other sparkling wine prove key against the backdrop of shifting lifestyles and economic headwinds. Conversely, champagne and cognac suffer for the same reasons.

Digital frontiers beckon

E-commerce - still comparatively underdeveloped and accounting for just 3% of global retail sales in 2023 - is now past the pandemic era-induced boom with growth rates moderating. However, its long-term strategic importance - and that of digital realms such as social media, or a myriad potential AI applications - will undoubtedly shape the industry’s future.

Key findings
Alcoholic drinks: key facts
Top market trends
Balancing inflationary pressures and black swan events against tentative signs of resurgence
Michelob Ultra: Active lifestyle positioning, the answer to macroeconomic woes
Is the industry turning a corner?
Mindful drinking goes mainstream
From moderation to “brain care”: Kin Euphorics :
No/Lo: The future is functional
Testing the limits of premiumisation
Hennessy in the US: A blip or a harbinger of more headwinds for premiumisation?
Premiumisation remains relevant but is not a panacea
Ready to deliver: RTDs reinvention, diversification and evolution
High Noon: Real spirits and real juice to the rescue
RTDs: Volatility baked in but future remains bright
Do androids dream of eclectic cocktails?
Meet the beer that made itself: Will alcoholic drinks become self-aware?
A cocktail of technological advances and human ingenuity will shape the industry’s future
Future impact
Recommendations

Alcoholic Drinks

Alcoholic drinks is the aggregation of beer, wine, spirits, cider/perry and RTDs.

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