Global drinks decline slows to -0.2% in 2016
Worldwide alcohol volume sales declined for a second consecutive year in 2016, but market intelligence provider Euromonitor has hailed a “significant improvement” for the industry.
Senior alcoholic drinks analyst Spiros Malandrakis praised the contraction, which saw declines slow from -0.8% reported in 2015 to 248.5 billion litres.
Eastern Europe reported its best performance since 2010 and is “appearing to be reaching the end of its deflationary saga” said Malandrakis, with a 1.5% decline.
Asia Pacific slowed its decline by half in 2016, posting -0.9% buoyed by recovery in China.
Western Europe “remained unsurprisingly mired in stagnation”, he added, while Africa and the Middle East “retained their steadily booming course”.
Meanwhile growth in North and Latin America “slowed down markedly” with the latter “entering negative territory”.
Looking across spirits categories, Tequila and English gin were “flag-bearers of growth”, their success credited to “artisanal offerings, signature credentials and solid premiumisation narratives”.