IWSR Forecasts $34bn Beverage Alcohol Growth in Key Markets by 2034
LONDON--(BUSINESS WIRE)--According to new data from IWSR, the global leader in beverage alcohol data and insights, the beverage alcohol industry experienced a mixed 2024 with global beverage alcohol volume down 1% but value up 1%.
In addition to today's 2024 annual data release, IWSR also announces the launch of two new products: the Global Forecast Suite and On-Trade Value data.
The Global Forecast Suite offers volume and value forecasts with an expanded ten-year horizon for the top markets. Using forecasts from the new product, IWSR expects $34bn in beverage alcohol growth in the next decade across the industry's leading markets.
IWSR's On-Trade Value data offers the first ever cross-market view of value from a price-to-consumer perspective in on-trade venues across twenty key markets. The new product provides users with a transparent view of this critical but notoriously opaque channel.
In the 2024 data, India stood out as a key growth market, adding over 5% in total beverage alcohol (TBA) volume and 9% in value. Growth is visible across all categories within the market, but most notably in beer and whisky.
TBA in Brazil grew just over 1% by volume in 2024 while value surged by 5%. Growing sectors included premium beer, RTDs and brandy.
No-alcohol beverages continued to display strong growth in 2024. No-alcohol beer volume was up 9%, and IWSR now forecasts that it will surpass ale to become the second largest overall beer category by volume worldwide this year.
Emily Neill, IWSR COO, says, 'Beverage alcohol growth momentum has decisively shifted towards developing markets. Our new Global Forecast Suite really lays bare the extent of the coming change, as the combination of demographic changes, shifting economic growth patterns and the long-run moderation trend in developed markets take full effect.'
About IWSR: Founded over 50 years ago, IWSR is the global leader in data, analytics and insights for the beverage alcohol industry. We uniquely combine proprietary longitudinal market data, consumer insights and AI-enhanced data science, with valuable on-the-ground human intelligence in 160 markets worldwide, to decipher what is really happening in the global beverage alcohol market.
Please note: value is in USD using variable exchange rate for actuals up to 2024, fixed rate for forecasts.
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