The regional recovery from the 2020 sales decline slowed in Asia Pacific in 2022 given the return of COVID-19 in China, the dominant country market. However, growth remained positive at a regional level in 2022 as sales were increasing everywhere in Asia Pacific outside of China. Year-on-year growth will be seen throughout the forecast period, in spite of the pandemic having given a further boost to health awareness among consumers in the region.
This report comes in PPT.
The Chinese alcoholic drinks market’s performance was heavily influenced by the return of COVID-19 in 2022, as the Omicron variant resulted in a spike in case numbers. However, off-trade growth remained positive in China, while total volume sales were increasing everywhere else in Asia Pacific in this year.
In 2022, due to soaring raw materials prices and the weakening of the Japanese currency, many players increased the shipment prices of their products. This saw the top four beer companies in Japan increase their shipment prices for beer and other alcoholic drinks in October 2022 – the first time in 14 years that they had raised the price of canned beer.
Health and wellness was one of the major trends in South Korean alcoholic drinks in 2022, with beer and spirits seeing increasing numbers of new launches featuring healthier variations. For example, many soju players launched sugar-free variants to appeal to health-conscious younger generations of adults, with formula changes featuring artificial sweeteners such as erythritol.
B9 Beverages, credited with having kick-started the craft beer trend in India back in 2015 with the launch of Bira 91, was one of the companies looking to combat inflationary pressure by targeting value rather than volume growth, for example through the launch of a range of premium products – a strategy that also saw Diageo introduce its premium, limited edition Epitome Reserve whisky.
Alcoholic drinks is the aggregation of beer, wine, spirits, cider/perry and RTDs.
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