GLOBAL: Imported spirits to take share from domestic product - forecast
The IWSR has released its forecasts for the world's spirits markets to 2018
International brands will increase their overall share of the world's spirits market going forward, to the detriment of local spirits, according to a recent forecast.
The IWSR Forecast Report 2013-2018, released this week, says that whisk(e)y, vodka and rum will be the main winners in the short- to medium-term. Imported spirits are expected to post a 3% CAGR between this year and 2013, the report claims, while domestic spirits brands will deliver a slower CAGR of 1.3%.
While baijiu, the white spirit produced in China, will continue to deliver volume rises over the next four years, these increases will be at a more moderate rate to the last ten years. Meanwhile, the move in India from domestic product to Indian-Made Foreign Liquor is “largely over for now”, according to the report. And, in Russia, governmental efforts to reduce overall alcohol consumption has “pushed a great deal of consumption back to the grey market”.
“The slowdown in growth of local spirits will lead to a decline in the rate of growth of spirits overall,” says The IWSR in the report. “The CAGR of total spirits consumption is forecast to drop from 6.4% between 2007 and 2012 to 1.5% between 2012 and 2018.”
International spirits, with whisk(e)y, vodka and rum gaining special mention, should increase their share of the overall spirits market to 12.3% in 2018, from 11.3% last year. Global consumption is expected to reach 3.37bn cases by 2018.
For further details on the forecast report, click here.
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