Report: It will get worse before it gets better, forecasts IWSR

Global alcohol consumption will continue to decline for a further five years before resuming growth in 2031 and rebounding to almost-2025 levels in 2035, reports IWSR in its inaugural 10-year forecast of all 160 markets it monitors.

Wine is expected to be hit the hardest with a forecast global decline of 14 per cent over the next decade, while global spirits consumption is forecast to decrease 2 per cent in volume and beer 1 per cent.

RTDs remain a bright spot and will continue their strong growth, with a forecast volume increase of 17 per cent by 2035.

The stabilisation in global volume from 2031 will be driven by two main factors: a substantial rebalancing of the global market, and continued growth in the worldwide drinking age population.

IWSR President and Managing Director, Marten Lodewijks, said: “The forecast stabilization in global beverage alcohol volumes is good news for the industry, but there are still plenty of challenges ahead. 2035 will be a vastly different market landscape than the one we see today, and producers will need to cater to changing consumer tastes in established markets as well as prepare for significant changes in where consumption is taking place. Companies that only rely on past successes to carry them through the next decade will face serious challenges.”