Michael “Schatzy” Schatzberg’s Post

The global shift in drinking habits is poised to elevate spirits such as vodka and whisky above wine in sales volume, according to a recent report by the World Spirits Alliance. Factors driving this trend include a preference for higher-value drinks like cocktails and challenges facing the wine industry, such as oversupply and declining demand. In 2022, spirits nearly matched wine in sales, with 2.67 billion cases sold compared to 2.8 billion cases of wine. This shift reflects broader changes in consumer preferences and market dynamics, impacting industries from manufacturing to retail and hospitality. Read More Here: https://lnkd.in/eQWcUzrv Reuters Branded Hospitality Ventures #hospitality #innovation #technology #beverage Suntory Global Spirits Robbie Millar David McDiarmid Ghost Tequila Casamigos Tequila Spirits Network Nick Buzzell Danny Saltzman

How have spirits been able to flip wine sales globally? While wine led global sales for most of the century, a fascinating transformation has taken us to a new era of spirits dominating the market. This raises the question: How did spirits rise to outpace wine in global sales? The World Spirits Alliance, backed by data from Oxford Economics and IWSR, sheds light on a dramatic surge. In 2022, the world nearly consumed as many cases of spirits (2.67 billion) as wine (2.8 billion). This trend isn't just about changing tastes; it's a reflection of deeper cultural shifts. This change wasn’t incidental but a result of meticulous market cultivation. Why does this matter? Today, the average global citizen is not just consuming more spirits; they are engaging in a more sophisticated, curated beverage experience. Spirits are no longer just drinks; they are cultural statements. This shift has created a substantial economic impact: 🔷 Spirits now account for 40% of total beverage alcohol sales by value, leading the way over beer and wine. 🔷 Categories like Indian whisky and tequila are projected to grow exponentially, by millions of cases, over the next five years. How do you see these trends evolving? What will be the next big shift in our drinking culture? #wineandspirits #beverage #beverageindustry

Spirits set to overtake wine as global drinking habits change According to a report from the World Spirits Alliance released on Wednesday, global sales of spirits such as vodka and whisky are expected to surpass wine as drinking preferences have shifted. The report from Oxford Economics and alcohol market research firm IWSR states 2.67 billion cases of spirits were sold in 2022, almost as many as the 2.8 billion cases of wine sold that year. "Should current trends in both categories continue, spirits volumes will soon surpass those of wine," the report states. Trends, including a shift towards drinking fewer, more expensive drinks, notably a growing range of cocktails, have seen spirits displace wine. The wine industry has faced a global supply glut, difficult weather and falling demand, which has hit a 27-year low. Beer companies are also grappling with a shift to spirits in some markets. BY THE NUMBERS    Beer accounted for 75.2% of total beverage alcohol volumes in 2022, followed by wine at 10.4% and spirits at 9.9%; In terms of the value of sales in 2022, spirits accounted for 40% of total beverage alcohol sales followed by beer at 38.1% and wine at 17.6%; Indian whisky is set to be the fastest growing spirits category between 2022 and 2027, growing by 50 million cases, with tequila, rum and gin all expected to rise between 10 and 20 million cases. Cognac and Armagnac are set to grow the least in the spirits market. The production and sale of spirits contributed some $730 billion to the global economy in 2022, when activity ranging from farming and manufacturing to shipping and sales in shops, bars and restaurants is included. Source: Reuters #wine #winelovers #winelover #winenews #vodka #whisky #trends #winetrends #beverage #alcohol #drinks #market #analysis #IWSR #beer #vodkatrends #whiskytrends

Spirits set to overtake wine as global drinking habits change According to a report from the World Spirits Alliance released on Wednesday, global sales of spirits such as vodka and whisky are expected to surpass wine as drinking preferences have shifted. The report from Oxford Economics and alcohol market research firm IWSR states 2.67 billion cases of spirits were sold in 2022, almost as many as the 2.8 billion cases of wine sold that year. "Should current trends in both categories continue, spirits volumes will soon surpass those of wine," the report states. Trends, including a shift towards drinking fewer, more expensive drinks, notably a growing range of cocktails, have seen spirits displace wine. The wine industry has faced a global supply glut, difficult weather and falling demand, which has hit a 27-year low. Beer companies are also grappling with a shift to spirits in some markets. BY THE NUMBERS    Beer accounted for 75.2% of total beverage alcohol volumes in 2022, followed by wine at 10.4% and spirits at 9.9%; In terms of the value of sales in 2022, spirits accounted for 40% of total beverage alcohol sales followed by beer at 38.1% and wine at 17.6%; Indian whisky is set to be the fastest growing spirits category between 2022 and 2027, growing by 50 million cases, with tequila, rum and gin all expected to rise between 10 and 20 million cases. Cognac and Armagnac are set to grow the least in the spirits market. The production and sale of spirits contributed some $730 billion to the global economy in 2022, when activity ranging from farming and manufacturing to shipping and sales in shops, bars and restaurants is included. Source: Reuters #wine #winelovers #winelover #winenews #vodka #whisky #trends #winetrends #beverage #alcohol #drinks #market #analysis #IWSR #beer #vodkatrends #whiskytrends

Spirits set to overtake wine as global drinking habits change According to a report from the World Spirits Alliance released on Wednesday, global sales of spirits such as vodka and whisky are expected to surpass wine as drinking preferences have shifted. The report from Oxford Economics and alcohol market research firm IWSR states 2.67 billion cases of spirits were sold in 2022, almost as many as the 2.8 billion cases of wine sold that year. "Should current trends in both categories continue, spirits volumes will soon surpass those of wine," the report states. Trends, including a shift towards drinking fewer, more expensive drinks, notably a growing range of cocktails, have seen spirits displace wine. The wine industry has faced a global supply glut, difficult weather and falling demand, which has hit a 27-year low. Beer companies are also grappling with a shift to spirits in some markets. BY THE NUMBERS    Beer accounted for 75.2% of total beverage alcohol volumes in 2022, followed by wine at 10.4% and spirits at 9.9%; In terms of the value of sales in 2022, spirits accounted for 40% of total beverage alcohol sales followed by beer at 38.1% and wine at 17.6%; Indian whisky is set to be the fastest growing spirits category between 2022 and 2027, growing by 50 million cases, with tequila, rum and gin all expected to rise between 10 and 20 million cases. Cognac and Armagnac are set to grow the least in the spirits market. The production and sale of spirits contributed some $730 billion to the global economy in 2022, when activity ranging from farming and manufacturing to shipping and sales in shops, bars and restaurants is included. Source: Reuters #wine #winelovers #winelover #winenews #vodka #whisky #trends #winetrends #beverage #alcohol #drinks #market #analysis #IWSR #beer #vodkatrends #whiskytrends

Spirits and RTDs Overtake Wine in Market Share: A New Era for Beverage Trends. Emily Neill, The Spirits Business #BeverageTrends #SpiritsGrowth #RTDMarket #WineDecline #AlcoholIndustry #DrinkTrends #MarketShift #ConsumerPreferences #AlcoholInnovation #IndustryInsights

Pernod Ricard, one of the biggest global wine and spirits sellers, is decanting the majority of its immense wine portfolio to Australian Wine Holdco, the French company announced Wednesday, doubling down on its growing spirits business. The news follows years of stalling vino demand at Pernod — with wine accounting for just 4% of the brand’s ~$13B worth of sales in fiscal year 2023 — as China’s once-booming wine market dwindles and Western tastes shift towards harder stuff. Indeed, an April report from the NIAAA found that American alcohol consumers are increasingly opting for liquor over lower ABV offerings. In 2022, the average person in the US aged 14+ years got through the equivalent of 1.06 gallons worth of pure alcohol in spirits beverages. That’s up 25% from 2017-2022, while beer and wine consumption fell by 4% and 2% over the same period, respectively. Spinning bottles Pernod’s deal will see the transfer of popular international wine brands like Campo Viejo and Jacob’s Creek, as well as several associated vineyards, at a time when wine consumption is drying up. Australia, the world’s fifth largest wine exporter, is feeling the effects: in March, millions of the country’s vines were deliberately destroyed in a bid to temper overproduction, which has seen the price of grapes more than half since 2020 in regions around the country. Fortunately for Pernod, though, the drinks giant still has a winning cocktail of liquor brands under its belt, including Absolut vodka, Jameson whiskey, and Havana Club rum — with those 3 labels alone selling nearly 28 million 9-liter cases between them last year.

Global wine consumption has been declining since 2007, as younger drinkers increasingly prefer cocktails and spirits, if they’re choosing to drink at all. Although overall wine volume is expected to decline year on year until 2028, the bright spot is rosé which is in high demand with off-trade sales soaring over 1,400% between 2010 and 2020. #WineTrends #ChangingTastes #WineIndustryInsights

Spirits performance in the On Premise sector is facing significant challenges both in the UK and globally. For Spirits brand owners, prioritising the delivery of value to consumers, especially through Cocktails, and adjusting strategies to win vs Beer & Wine in earlier dayparts are crucial for improving volumes and market share. Read more insights from Phillip Montgomery in the article below. #onpremise #spirits #cocktails #cgabyniq #insights #drinkstrends

📊 Spirits and Wine Market Trends Update 📈 According to our latest SipSource report, the spirits category is seeing growth in only two product classes: Premixed Cocktails and Tequila/Agave spirits. ✨ Tequila Reposado is leading the charge with a +10.7% increase, showing strong resilience in premiumization, especially for products over $50, which are up an impressive +25.0%. Regions east of the Rockies are driving this surge with growth exceeding +19%. Meanwhile, the Tequila-Other segment is seeing a +12.9% boost, largely driven by lower-priced products under $17. 🍸 Premixed Cocktails continue to grow in volume but present challenges in terms of revenue and supply chain logistics. These products now account for 14.9% of total spirits volume, compared to just 3.9% in June 2020. In the Wine category, Prosecco shines as the top performer, up +2.6%, while Wine Cocktailsin canned formats are growing rapidly at +22.1%. 📉 However, total wine depletions are down 8.2%, and with 54.3% of Table Wine sold below $8, growth remains challenging. As inflation impacts continue to moderate, consumer spending concerns persist, with rising prices remaining top of mind. Stay tuned as we navigate these evolving trends in the spirits and wine industry! 🍷🍹#SipSource #WSWA #SpiritsTrends #WineMarket #TequilaGrowth #Premiumization #IndustryInsights Read the release here: https://lnkd.in/giyuAFXW