Developing beverage alcohol markets, led by India, China, Brazil and Mexico, are expected to be the main growth drivers in value terms for the beverage alcohol industry over the next five years, drinks intelligence provider IWSR said recently.
After the total beverage alcohol (TBA) value globally rose by only 1% in 2023, future growth will be led by India, China and the US, which are projected to add a combined USD 30 billion in incremental value by 2028. India and the US will each account for around USD 7.6 billion of this, but the countries’ compound annual growth rate (CAGR) wil be quite different, expected to be more than 4% and 0.8%, respectively. The five next most value-adding TBA markets (excluding Russia) are expected to be Brazil, Mexico, South Africa, Vietnam and Nigeria.
“The shift that’s been happening over a fairly long period of time from developed to developing alcohol markets is continuing and is, if anything, intensifying,” said Emily Neill of IWSR.
IWSR also recently said that the trends of moderation and downtrading are continuing in mature alcohol markets, driven by health concerns, economic pressures and changing social habits, although US Millennials are reviving their spending.
