Asia-Pacific to lead drinks growth
on 21/11/11 at 7:21 amIndustry
The IWSR Forecast Report 2011-16 predicts that Asia-Pacific will overtake the Americas as the second largest region for consumption and, not long after 2016, will overtake Europe as well.
Brown spirits and premiumisation – albeit at a slower rate – have also been identified as key drivers of growth across the global industry.
The latest forecasts predict total spirits consumption to rise from 2.81 billion cases to 3.32bn – a rise of over half a billion cases between 2010 and 2016 – and 85.9% of this growth will come from just two markets, China (63.2%) and India (22.7%).
An IWSR statement said: “The next five years will be characterised by the ever-increasing importance of emerging markets especially in Asia, Central and Eastern Europe, and much of South America.
“The growing importance of brown spirits will also be a key trend, as will continued, and significant, premiumisation although at a slower rate than previously due to a weaker economic outlook for many countries.”