New trend of alcohol consumption in 2023 ?

As the world begins to emerge from the haze of the epidemic and enter a period of economic change, the main trend of wine is changing.

 

RTD  Growth

In recent years, the demand for RTD alcoholic beverages has been rising. The data of IWSR shows that the global RTD value will increase at a CAGR of+7% between 2022 and 2026, exceeding the CAGR of+5%.

 Hard soda is in the leading position in the RTD category. It is estimated that hard soda will account for half of the global RTD market by 2025 (30% in 2020). From 2020 to 2025, the total sales volume is expected to grow at a CAGR of 26%.

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Low and non-alcoholic alternatives

 

Health is the primary condition for contemporary consumers to pursue quality of life. Many alcohol consumers intend to reduce their consumption of alcohol, but the happiness brought by alcohol is hard for alcohol lovers to give up. Therefore, a series of alcohol substitutes such as low-alcohol and non-alcohol beverages emerged at the historic moment, setting off a new trend in the alcohol industry.

IWSR predicts that between 2021 and 2025, the compound annual growth rate (CAGR) of non-alcohol and low-alcohol will be+8%, while the CAGR of conventional alcoholic beverages will be+0.7% in the same period.

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High-end consumption trend

High-end is the long-term trend of alcoholic beverages, the most obvious among spirits. The IWSR report once pointed out that spirits have the unique ability to promote the high-end of the category through high-priced products. At the same time, beer and wine brands can also benefit from the trend of “drink less, but drink better”. Low-priced beer and wine are being replaced by higher quality and more expensive wine selected by the younger generation of consumers.
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Now, in 2023, when the economic situation is increasingly uncertain, alcohol and beverage companies are also trying to solve a series of supply chain pressures such as inflation, rising costs, including transportation delays, rising prices of raw materials and packaging, which will eventually be passed on to consumers.

 

Seek novelty experience

 

The new generation of young consumers tend to be novel and personalized in alcohol consumption, and pay more attention to their own experience. They are very interested in the sense of experience, story, game, art and other elements.
This general trend of alcohol drinks will lead to the gradual display of the diversity of consumer demand, and low-alcohol wine and foreign wine will display the comparative advantages of various types and styles.

 

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Post time: Feb-02-2023
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