Overview: Global travel retail beverage markets recorded value growth across all four regions covered by IWSR in 2025, with spirits leading the expansion. Whisky emerged as the dominant growth driver within the sector, while wine performance varied significantly between sub-categories.
The Full Story
Combined spirits and wine volumes in GTR increased by 5% in 2025. Spirits value grew by 7%, while wine value rose by 5%. All four regions covered by IWSR recorded value growth, led by Europe (+11%) and Africa/Middle East (also +11%), followed by Americas (+7%) and Asia-Pacific(+2%). However, IWSR said these figures mask “pronounced” regional variations, including a “lacklustre” spirits performance in Asia-Pacific alongside continued strong growth in India. IWSR also highlighted a split between a “buoyant Latin America” and a “softer North America.”
Whisky was the dominant growth driver in GTR during 2025, with value rising by +12%. Scotch whisky and American whiskey both recorded +10% value growth, while Irish whiskey rose by +11% but Japanese whisky stood out with a +44% value rise, with volumes up +37%. Agave spirits recorded double-digit growth, with volumes up +10% and value outstripping this with a +28% gain. Vodka benefitted from demand for flavoured variants and consumers switching across from gin in core European markets, with a +7% volume rise and double-digit value growth. Rum volumes declined by 6%, although value growth indicated consumers were trading up within the category. Gin volumes were broadly flat in GTR during 2025, but value rose by 7% as local and craft brands performed well in markets including the Nordics, the UK and Asia-Pacific.
Wine also enjoyed a positive year with volumes increasing by +2% and value by +5%. Still wine spearheaded this growth but light aperitifs were the standout sub-category, expanding volumes by +16% and value by +25%. Champagne experienced a mixed year, with volumes down but value rising while there were signs of ‘Prosecco fatigue’ as both volume and value fell. But Cognac and brandy struggled as volumes dipped by -6%, with value declined by -8%.
Charlotte Reid, IWSR Senior Insights Manager for GTR, noted that traditional spirits categories face challenges from rapid shifts in consumer preferences. Spirits delivered aggregate volume growth of +6% and value growth of +7% in 2025, with considerable divergence in performance between sub-categories. Reid highlighted that Japanese whisky and agave spirits experienced a surge, whereas Cognac faced one of its worst declines in decades. Additionally, flavoured gin declined as consumers moved toward vodka and RTDs.
What This Means
IWSR FUTURE PREDICTIONS indicate Scotch whisky dominates the growth opportunity to 2030 while Japanese and Irish whiskies lead in terms of momentum. Future value growth for wine will be anchored by still wine and Champagne, alongside smaller gains for fortified wines and other sparkling wine. Prosecco faces continued pressure and is poised for a slight decline to 2030. Light aperitifs remain the fastest-growing sub-category here. Forecasts for the 2025-27 period in GTR are weighed down by the continued conflict in the Middle East, airspace closures, flight disruption, elevated fuel costs and cost-of-living pressures. Africa and the Middle East will take the biggest hit, with IWSR predicting a single-year volume decline as steep as -22%, and recovery unlikely before 2028. The Americas and Asia-Pacific are less impacted, but Europe is also highly exposed to disruption in the Middle East, and its recovery is expected to be the slowest of the regions in the years ahead.
Consumer Takeaway
This release offers insight into where value growth is anchored for the drinker, highlighting whisky as the primary driver with Japanese and Irish momentum leading the way. Consumers can expect light aperitifs to remain the fastest-growing sub-category within wine, while traditional categories like Cognac face continued pressure. The outlook suggests Scotch whisky will dominate the growth opportunity through 2030, though regional risks in Africa and the Middle East may impact availability before 2028.
Source: Read the original article
