The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreSep 2017
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After three years of weak volume and value growth, global spirits saw an improved volume and value performance in 2016. This overview looks at the why this has happened and the outlook for the future, including the opportunities as well as the challenges ahead.
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Over 2016-2021, spirits’ share of alcoholic drinks will increase marginally. Its struggle to increase previously came from a weak performance in both volume and value terms in the early part of the decade, thanks to weak growth across the globe.
Across the globe, consumers are trading up to more premium products, which in emerging markets includes a shift from domestic products to more premium international spirits brands. Within mature markets, this is showing itself in the rise of “craft” spirits.
Emerging markets, led by Asia Pacific, are the key growth drivers in many categories. This includes local spirits, such as baijiu, as well as locally-produced products in categories such as rum and whiskies. Improving Eurozone economies have, however, helped boost the performance in more mature regions.
Following Diageo’s acquisition spree to rebalance its geographic presence, and Suntory’s acquisition of Beam, future M&A activity will slow and is now focused on buying and in many cases overpaying for premium “craft” brands with potential.
There are huge opportunities for expansion for international companies in emerging markets, as growing wealth in these markets makes their products more affordable. There are also opportunities in mature markets in untapped markets or new niches, such as super-premium gin.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.