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Whisky predicted to lead spirits growth in 2022
Global alcohol consumption is expected to reach 28 billion cases by 2022, with the “strongest” growth forecast for whisky, according to IWSR data.
Spirits is predicted to experience “mixed fortune”, according to the IWSR
In the IWSR 2018-2022 Forecast: Volume and Value Data report, global alcohol consumption is expected to grow by US$78.7bn in value.
Wine will see the largest growth, up by 38.7m cases, followed by spirits, which is predicted to increase by 36.5m cases.
The IWSR said that spirits will experience “mixed fortune”, with strong growth expected for whisky, gin, genever, and agave-based spirits. Premium-and-above spirits are also forecast to grow.
Vodka is predicted to witness the largest fall due to “continuing declines in Russia”. Rum and brandy will also decline “due to drops in low-priced brandy and value rum”.
The US will remain a key market with “top growth” for spirits, including American whiskey, Irish whiskey, Canadian whisky, Tequila, mezcal, Cognac, Armagnac and vodka.
The UK continues to be the leading market for gin, while France is predicted to be rum’s biggest growth market.
Beer is predicted to “return to growth” next year, while still and sparkling wine will lead the growth of the wine category.