The biggest spirits stories of 2020

14th January, 2021 by Nicola Carruthers

Sales fall amid pandemic

The Covid‐19 pandemic is expected to cause total alcohol sales to decline by 8% this year, according to new forecasts from IWSR Drinks Market Analysis.

In May, IWSR forecast total global alcohol consumption would experience double‐digit declines in 2020 because of the impact of the crisis, and that it would take until at least 2024 for the industry to recover to pre‐crisis levels.

IWSR analysed beverage alcohol consumption in 19 key global markets and the global travel retail channel, representing more than 75% of total global alcohol consumption combined. China is expected to see a ‘full recovery by 2021’.

Together with the US, the two markets will be key growth drivers of global beverage alcohol, accounting for one‐third of global volume consumption and more than 40% of global value. The US and Canada are expected to be the only two markets to show volume growth in 2020, both increasing sales by more than 2%.

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