IWSR predicts positive outlook for premium spirits

Premium-and-above spirits will grow their global volume market share to 13% over the next few years as consumers seek quality over quantity, according to new data from IWSR Drinks Market Analysis. According to the IWSR Global Trends Report 2020, premium-and-above spirits will grow their volume share to 13% by 2024. In value terms, China is the world’s biggest market for premium-and-above wine and spirits. It also leads the way in volume terms, closely followed by…

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Covid-19 will cause more damage than financial crisis

The ongoing coronavirus pandemic will have a “deeper and more long-lasting impact” on the global drinks industry than the 2008 financial crash, according to IWSR Drinks Market Analysis. Following the financial crisis more than a decade ago, changes to consumer demand affected the beverage alcohol industry. As the industry is once again under pressure, market analysis firm IWSR has assessed whether similar patterns could unfold following the Covid-19 pandemic. According to IWSR, both the financial…

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How will coronavirus affect the e-commerce alcohol sector?

As the world went into lockdown, shoppers moved online generating a huge uptick in the e-commerce alcohol sector. The Spirits Business explores whether the future is digital and the impact of Covid-19 on bricks-and-mortar sales. Never has the internet been more powerful than during the coronavirus pandemic. Restrictions and lockdowns across the world have forced consumers indoors to prevent the spread of the disease. As more people logged online, e‐commerce alcohol sales surged as drinkers…

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IWSR: ‘status spirits’ grow faster than total market

‘Status spirits’ – brands that retail for US$100 and above – are growing “significantly ahead” of the total global spirits market, according to new data from IWSR Drinks Market Analysis. The IWSR Status Spirits Strategic Study showed the value of the status spirits market (excluding baijiu) was worth US$8.3 billion and grew at a compound annual growth rate (CAGR) of 7% from 2014 to 2018. By comparison, the total global spirits market grew by 2%…

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IWSR tool to forecast coronavirus impact on alcohol

Data supplier the IWSR Drinks Market Analysis will launch a risk assessment tool next month, which will examine the impact of coronavirus on the alcohol market on a quarterly basis. The coronavirus outbreak began in Wuhan, capital of the Hubei province, in China, last December, and has since spread to more than 20 countries. To date, the death toll has reached more than 3,000, the majority of which have been in China. Available from the…

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