“An optimistic forecast in out-of-home alcoholic drink consumption is expected as the sector has witnessed a rapid bounce back following increasing spending on eating out in 2023. Besides this, an attitudinal shift towards ‘drink less but better’ has been observed, indicating brands need to position a quality taste profile as the backbone of product premiumisation; meanwhile, marketing messages focused on lower-ABV and smaller format will further help to keep consumers engaged.”
– Marta Zhang, Senior Research Analyst
Key issues covered in this Report
- Alcoholic drinks market overview and five-year forecast
- New product launch trends and notable market activities
- Consumption change and consumption spending deep dive
- Suggestions on how to respond to alcohol moderation trend
- Consumers’ attitude towards alcoholic drink premiumisation
Collapse All
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Overview
- What you need to know
- Key issues covered in this Report
- Covered in this Report
- What you need to know
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Executive Summary
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- The market
- Optimistic forecast for alcoholic drinks market after COVID-19 outbreak alleviated
- Figure 1: Market value and forecast of alcoholic drinks – in home, 2017-27
- Figure 2: Market value and forecast of alcoholic drinks – out of home, 2017-27
- Western spirits and RTD alcoholic drinks maintain growing momentum
- Figure 3: Market segmentation share of alcoholic drinks, by market value, 2020-22
- Companies and brands
- Brands utilise occasion marketing, brand extension and premiumisation to engage with consumers
- Innovation trends towards diverse flavours, better for you and novel packaging
- The consumer
- Moving towards lighter alcoholic beverages
- Figure 4: Consumption change, 2023
- Capture high spending power of female consumers
- Figure 5: Alcoholic drinks spending, 2023
- Health concerns are the primary deterrent leading to drinking reduction
- Figure 6: Reasons for drinking less, 2023
- Bigger focus on ‘drink less but better’
- Figure 7: Ways of responsible drinking, 2023
- Liquor flavour beverage tops the wish list
- Figure 8: Interest in novel alcoholic beverages, 2023
- Placing taste at the forefront in alcoholic drink premiumisation
- Figure 9: Attitude towards premium alcoholic drinks – product premiumisation, 2023
- What we think
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Issues and Insights
- Lower-ABV wines can help navigate market downturn
- Figure 10: Examples of lower-ABV wines, Global
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- Figure 11: Echo Falls wines, USA
- Beer brands should look into weight management under health and wellness trend
- Figure 12: Examples of beer products with low calories/low carbs claims, global, 2022-23
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- Figure 13: Kirin Karada Free, Japan, 2023
- Small sets of premium drinks to conform to responsible drinking
- Figure 14: Examples of whisky small tasting sets, Global,2022
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- Figure 15: RTD gift set of Tayēr + Elementary, UK, 2023
- Lower-ABV wines can help navigate market downturn
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Market Size and Forecast
- Stable growth in in-home alcoholic drinks consumption
- Figure 16: Market value and forecast of alcoholic drinks – in home, 2017-27
- Slump in out-of-home consumption in 2022, while the recovery is strong in 2023
- Figure 17: Market value and forecast of alcoholic drinks – out of home, 2017-27
- Stable growth in in-home alcoholic drinks consumption
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Market Segmentation
- Baijiu and beer dominant alcoholic drinks categories
- Figure 18: Market segmentation share of alcoholic drinks, by market value, 2020-22
- Western spirits and RTD alcoholic drinks continue growth trajectory
- It is still not a year for wine
- Baijiu and beer dominant alcoholic drinks categories
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Market Factors
- The release of standards for regulating ecommerce platform sales and distribution
- A change in eating out spending among consumers
- Figure 19: Increased eating out spending, 2022-23
- Alcohol moderation trend drives consumption upgrade
- Heatwave might provide a boost for alcoholic drinks consumption
- Pessimistic young consumers are holding back on alcohol consumption
- Figure 20: The Urban Surveyed Unemployment Rate (monthly %), 2020-23
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- Figure 21: Financial status – much worse off/a little bit worse off, 2022-23
- The release of standards for regulating ecommerce platform sales and distribution
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Marketing Activities
- Guide consumers on consumption occasion
- Figure 22: Examples of alcoholic drinks marketing highlighting consumption occasion, China, 2023
- Retail channels offer DIY solutions
- Figure 23: Examples of retail channel DIY alcoholic drinks sections, China, 2023
- Brand extension to new categories
- Figure 24: Examples of alcoholic drink brand extensions, China, 2023
- Different approach towards product premiumisation
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- Figure 25: Example of premiumised alcoholic drinks, China, 2023
- Guide consumers on consumption occasion
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New Product Trends
- Emerging new flavour launches in the realm of FAB, beer and cider
- FAB: lactobacillus flavour is worth noticing
- Figure 26: New flavoured alcoholic beverages launches, by top flavour component, China, 2018-23
- Beer and cider: diversified flavour launches beyond fruit flavours
- Figure 27: New beer and cider launches, by flavour component subgroup, China, 2018-23
- Figure 28: Example of new beer launches with novel flavour, China, 2022-23
- Health and wellness trend influences alcoholic drink launches
- Figure 29: Examples of alcoholic drinks with functional benefits, China, 2023
- A rise in can & other novel alcoholic beverage packaging format
- Figure 30: Alcoholic beverage launches by packaging material, China, 2018-23
- Figure 31: Examples of new product launches with non-glass packaging, China, 2021-23
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- Figure 32: Examples of paper bottle alcoholic drinks, global, 2023
- Emerging new flavour launches in the realm of FAB, beer and cider
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Consumption Change
- Consumption shifts from higher to lower alcohol drinks
- Figure 33: Consumption change, 2023
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- Figure 34: % points difference between drunk more and drunk less, 2023
- Regardless of category, consumers aged 25-39 tend to be active alcohol drinkers
- Figure 35: Consumption change – drunk more or the same, by age, 2023
- 5%-10% ABV is preferred by almost half
- Figure 36: ABV preference, by gender, 2023
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- Figure 37: Examples of lower-ABV wines, Global, 2023
- Figure 38: ABV preference, by city tier, 2023
- Consumption shifts from higher to lower alcohol drinks
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Alcoholic Drinks Spending
- Females demonstrate higher alcoholic drink spending power
- Figure 39: Alcoholic drinks spending, 2023
- Figure 40: Alcoholic drinks spending, by gender, 2023
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- Figure 41: Alcoholic drinks spending – spent more, 2022-23
- Opportunity exists in RTD cocktails premiumisation
- Figure 42: Alcoholic drinks spending, by alcoholic drink types (drunk more), 2023
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- Figure 43: Examples of premium RTD alcoholic drinks, Japan, 2022-23
- Take advantage of widespread affinity towards drinks at 5%-10% ABV
- Figure 44: ABV preference, by alcoholic drinks spending, 2023
- Females demonstrate higher alcoholic drink spending power
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Reasons for Drinking Less
- Health-related reasons are the primary drivers that stop consumers from drinking…
- Figure 45: Reasons for drinking less, 2023
- … while wine is an exception – consumers drink less to save more
- Figure 46: Reasons for drinking less, 2023
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- Figure 47: Winedaily by Lady Penguin, 2021
- Figure 48: Reasons for drinking less – wine, by age and gender, 2023
- Address weight management concern for beer drinking
- Figure 49: Reasons for drinking less – beer (weight management), by monthly household income and city tier, 2023
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- Figure 50: Reasons for drinking less – beer, by age, 2023
- Health-related reasons are the primary drivers that stop consumers from drinking…
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Ways of Responsible Drinking
- ‘Drink less but better’ is an inevitable consumer drinking trend
- Figure 51: Ways of responsible drinking, 2023
- Different generations apply different responsible drinking approaches
- Figure 52: Ways of responsible drinking, by generation, 2023
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- Figure 53: Ways of responsible drinking – repertoire group, by generation, 2023
- Figure 54: Responsible drinking campaign by Captain Morgan, 2023
- Fruit-based alcohol consumers are not dependent on alcohol content, while Western spirits consumers tend to be assured alcohol drinkers
- Figure 55: Ways of responsible drinking – difference between respondents who have drunk more or the same fruit-based alcohol/western spirits and total respondents, 2023
- ‘Drink less but better’ is an inevitable consumer drinking trend
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Interest in Novel Alcoholic Beverages
- Liquor flavour is loved, while tea wine shows potential to further penetrate
- Figure 56: Interest in novel alcoholic beverages, 2023
- Consumers aged 25-39 are not only active drinkers but also novel product lovers
- Figure 57: Interest in novel alcoholic beverages – have drunk and will continue to drink, by age, 2023
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- Figure 58: Interest in novel alcoholic beverages – have drunk and will continue to drink, by consumption change, 2023
- Attract female consumers via milky flavour alcoholic drinks
- Figure 59: Interest in novel alcoholic beverages – alcohol with milk, by gender, 2023
- Figure 60: Examples of alcoholic drinks with dairy flavour, Global, 2021-22
- Liquor flavour is loved, while tea wine shows potential to further penetrate
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Attitudes towards Premium Alcoholic Drinks
- Taste should be positioned as number one priority in premiumisation
- Figure 61: Attitude towards premium alcoholic drinks – product premiumisation, 2023
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- Figure 62: Living Wines product description, 2023
- Figure 63: Small format section of alcoholic drinks on online retail channel, 2023
- Innovating in ritual occasions to boost premium consumption
- Figure 64: Attitude towards premium alcoholic drinks – purchase driver, 2023
- Visualise sustainability efforts to resonate with current consumers
- Figure 65: Attitude towards premium alcoholic drinks – corporate behaviour, 2023
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- Figure 66: Attitude towards premium alcoholic drinks – Premium alcoholic drinks that practice sustainability are worth paying more for, by age, 2023
- Taste should be positioned as number one priority in premiumisation
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Food Persona
- Who are they?
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- Figure 67: Food persona, 2023
- Figure 68: Food persona, by gender, 2023
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- Figure 69: Food persona, by age, 2023
- Critical shoppers drink less to manage weight and sleep
- Figure 70: Reasons for drinking less – select items, by food persona, 2023
- New trend explorers expect small bottle premium drinks
- Figure 71: Attitude towards premium alcoholic drinks – agree, by food persona, 2023
- Who are they?
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Appendix – Market Size and Forecast
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- Figure 72: Total value sales and forecast of alcoholic drinks (in-home), China, 2017-27
- Figure 73: Total value sales and forecast of alcoholic drinks (out-of-home), China, 2017-27
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Appendix – Market Segmentation
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- Figure 74: Market segmentation of alcoholic drinks, by market value, China, 2020-22
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Appendix – Methodology and Abbreviations
- Methodology
- Abbreviations
- Methodology
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