In 2021, alcoholic drinks continues to be impacted by the COVID-19 pandemic, however the recovery has begun and off-trade consumption has slowly started to shift back to the on-trade. Likewise, the country is under political unrest due to the coup in 2020, which is naturally impacting all industries.
Sales of alcoholic drinks were negatively impacted in 2020, with the official government response to the COVID-19 pandemic having had a particularly serious impact on on-trade sales. Although a substantial shift to the off-trade was seen in all categories, especially in spirits, this was not enough to avoid significant total volume declines at industry level over the course of 2020.
Since the outbreak of COVID-19 the demand for alcoholic beverages has decreased drastically, mainly due to reduced consumption opportunities due to lockdown and the ongoing restrictions. However, it is not just the pandemic that has had a negative effect on the industry.
In 2021, any military-owned or affiliated businesses including alcoholic beverages brands continue to face large consumer boycotts. Such products have also been removed from the shelves of many modern-trade retailers including the leading supermarket chain City Mart and traditional trade retails like neighbourhood grocery stores.
In response to the COVID-19 pandemic and the coup,, there have been numerous supply chain disruption issues. For example, there have been transport delays due to the implemented curfew as well as the army checkpoints across the country.
Both the legal drinking age and the legal purchasing age for alcoholic drinks remain set at 18 years old.
The Union Tax Law (UTL) 2020 was approved by Parliament in September 2020 and applies to the fiscal year 2020 to 2021. Given the amount of economic uncertainty in light of the COVID-19 pandemic, the Union Tax Law 2020 does mention that the government may propose to amend the tax rates at a subsequent date before the next law is announced.
Consumption will increase in both urban and rural areas of the country, with the rising numbers of bars and nightclubs that appeal to mid- and high-income local people set to spur on-trade sales growth in major urban areas.
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Alcoholic drinks is the aggregation of beer, wine, spirits, cider/perry and RTDs.See All of Our Definitions
This report originates from Passport, our Alcoholic Drinks research and analysis database.
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