Premiumisation continues as consumers lean into little luxuries. However, the economic doldrums and rising inflation are also fanning the flames of moderation trends, writes Jo Gilbert.
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A major shift in premiumisation trends is about to occur, new analysis from the IWSR has concluded, as millennials and those who enjoyed greater discretionary spend during the pandemic feel the strain of a new period of economic instability and stagnation.
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Premiumisation was an ongoing trend in wines and spirits during the first half of 2022 as consumers leaned into little luxuries, new data has revealed. However, as we teeter on the brink of global recession, it is increasingly clear that consumers are holding back on their drinks purchases – a trend that could be particularly acute in the UK, where both intensifying economic gloom and rising inflation is threatening to ‘derail premiumisation’.
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Cava’s image has been bruised in recent years, not least by an exodus of nine influential producers in 2019 from the DO. Nonetheless, it remains a sparkling powerhouse, led by corporate giants Codorníu and Freixenet. The numbers speak for themselves: global exports rose by 16.45% in the first nine months of 2021, according to the Consejo Regulador. However, with stagnant growth in the UK, there are challenges ahead if the DO hopes to reconquer one of Europe’s most dynamic sparkling wine markets.
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Consumer demand for premium ready-to-drink (RTD) products will drive the category forward, with value growth outpacing volume growth at 8% vs 5% CAGR 2022–26, according to an annual study from IWSR Drinks Market Analysis.
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Majestic, the UK’s largest specialist wine retailer, has announced a significant boost in organic wine sales. The figures indicate that the organic wine movement shows no signs of slowing down.
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The no-alcohol volume sector has been growing exponentially in recent years. If the latest IWSR data is anything to go by, the upward trend shows no signs of slowing, particularly in the UK.
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Having grown exponentially in recent years, it’s no surprise that the low and no category is evolving at rapid speed, with the latest twist in this 21st-century tale being that it is now moderate drinkers, rather than teetotallers, driving the category.
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According to IWSR data, spirits has been the clear winner when it comes to value generation over the past few years: the average global price per serving for spirits (excluding national spirits such as baijiu) rose at a CAGR of +3.8% between 2016 and 2021, ahead of wine (+3.4%), beer (+2.3%), RTDs (+1.4%) and cider (+1.1%).
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A new report issued by the IWSR is full of encouraging news for the international beverage industry. According to the organisation's Drinks Market Analysis, the value of global alcohol sales grew 12% last year to reach US$1.17 trillion, while volume rose by a more modest 3% in 2021.
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Football is a global sport with a greater following than any political movement or religion (probably). According to Statista, more than a billion people tuned in to watch the 2018 FIFA World Cup Final. The official beer partner of that tournament, held in Russia, was Budweiser, and its bold American iconography could be seen the world over.
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Brits drink less alcohol than they did during the past two Jubilee celebrations – a trend which is likely to carry over this weekend as party planners fill shelves and ice boxes. However, wine and spirits have a greater share of that pie, as the two categories steal a march from the once all-powerful beer category.
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Building on feedback from over 400 million wine drinkers globally, the Wine Intelligence Global Wine Brand Power Index reveals a stabilisation of wine brand equity, following the steep erosion of brand equity seen in 2021 amidst Covid disruptions.
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In the first of a regular look at the multiples, Andrew Catchpole sizes up the general health of the sector.
Propeller, the hybrid importer founded by Jamie Wynne-Griffiths in 2020, is embracing new formats with the launch of The Can Collective.
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The demand for no/low alcohol brands surged across key global markets in 2021, with consumer interest no longer confined to seasonal trends like Dry January.
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The sparkling wine category was the clear winner of the Christmas retail bonanza, with both merchants and analysts reporting bumper sales.
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Ecommerce is to remain a key driver of value growth in global alcoholic drinks markets, with wine to the fore. Andrew Catchpole reports.
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The total value of the e-commerce sector in headline markets is expected to grow at an unprecedented rate between 2022-2025, according to the IWSR.
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As world leaders in sustainable and organic practices, Spanish winemakers are also discovering the benefits in the bottle, as Andrew Catchpole reports.
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