A report by the World Spirits Alliance forecasts that more cases of spirits like vodka and whisky will be sold globally compared to wine, due to changing drinking preferences.
In 2022, 2.67 billion cases of spirits were sold, nearly matching the 2.8 billion cases of wine.
The trend towards consuming fewer but more expensive drinks, including a wider variety of cocktails, has led to spirits gaining popularity over wine.
The wine industry is struggling with supply issues, challenging weather, and decreasing demand, while beer companies also face competition from spirits in some markets.
In 2022, beer made up 75.2% of total beverage alcohol volumes, while wine and spirits accounted for 10.4% and 9.9% respectively.
However, in terms of sales value, spirits led with 40%, followed by beer at 38.1% and wine at 17.6%. Indian whisky is projected to grow the fastest among spirits categories from 2022 to 2027.
(REUTERS)