The latest figures from the Australian bureau of Statistics are showing that us Aussies are bucking the international forecast and are drinking less alcohol than at any time in the last 55 years. This downward trend in Australia has been happening for more than 40 years. We are now moderate consumers per capita.
The global market for alcoholic beverages is valued at more than $1 trillion and the International Wine and Spirit Record (IWSR), is predicting a growth of seven percent. The driver seems to be higher quality products.
Beer is the biggest seller, but international sales have been decreasing since 2014. China is the leading country in this decline but Mexico and Germany are increasing beer consumption. The reason for beer being the big drink in the market is the increasing preference by consumers for the premium and craft brews. The other mover in this market are the low or no alcohol beers, with a nearly nine percent increase in sales per year expected up to 2023.
The alcohol of choice is now Gin, with sales increasing by eight percent since 2017. This is due to the massive innovation within this market, with pink gin, and other botanical products becoming increasing popular.
The other spirits (rum, whisky, tequila) have had solid growth and IWSR expects that there will be continued growth through ubntil 2023. The Ready to Drink market has also grown rapidly with a five percent increase since 2018.
The industry is reacting to the consumer interest in more plant based and healthier products, often with premium prices, and this is likely to be a driver of much of the growth happening in alcohol internationally.