Description
The Future of Wine and Spirits 2024 is a global market report that covers the latest innovations and consumer trends across the global wine and spirits industry. Our global market report identifies evolving areas, consumer attitudes, and important advances expected across regions like EMEA, APAC, and LATAM over the next five years and beyond.
Global Wine and Spirits Market – Where are we now?
Adults in most leading alcohol markets still feel unsteady about their finances, which has them re-evaluating purchases of non-essential items like alcohol. The preference for at-home drinking continues, as higher levels of adults across the globe favour spending discretionary income on food and drink at home.
Global Wines and Spirits Market – Trends in the next two years
Some drinkers will choose premium spirits and wines as affordable luxury, but a sluggish global economy and cost-of-living crisis means many feel worse off. Brand loyalty will erode as drinkers seek deals, so brands will need to offer value options.
As sustainability concerns return to the forefront of consumers’ minds, drinkers will expect spirits and wines to adopt eco practices but not to pass on the cost. Brands should offer affordable eco initiatives or dial up end benefits like superior taste to justify any price hikes.
Global Wine and Spirits Industry – Trends in the next five years
VR will create immersive brand experiences at home. This will mean drinks brands will be able to transport immersive storytelling into people’s living rooms. Spirits and wine drinkers might be transported on a bird’s eye view tour of a distillery or winery whilst sampling the product.
Purchase the full report for a complete overview of the future of the global wine and spirits industries. To understand more about the current landscape of the industry, you may be interested in Mintel’s A Year of Innovation in RTD, Wines and Spirits.
Expert Analysis from a Drinks Industry Specialist
This report, written by Martin Pasco, a leading food & drink analyst, delivers in-depth commentary and analysis to highlight current global wine and spirit market trends and add expert context to the numbers.
As brand loyalty comes under threat, brands should offer value options, flag permissibility and link the cost of eco claims to benefits like superior taste.
Martin Pasco
Global Analyst – Mintel Food & Drink
Table of Contents
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what you need to know
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in the next two years
- Offer value options as brand loyalty comes under threat
- Graph 1: consumer solutions to spirits purchases when trying to save money, 2022
- Permissible spirits and wines will grow
- Graph 2: consumers who agree that maintaining good mental health is key to overall wellbeing, 2023
- Graph 3: launches of select alcoholic drink sub-categories with select minus or natural claims, 2021-23
- Graph 4: proportion of consumers aged 18-34 who have consumed non-alcoholic versions of spirits and wines in the last three months, 2023
- Justify the value of eco claims in a cost-of-living crisis
- Graph 5: eco claims made by spirits, wines and FAB launches, 2019 vs 2023
- Graph 6: factors that influence the wine purchase decision, 2022
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in five years and beyond
- Collaborate with at-home AI cocktail creation apps
- VR will create immersive brand experiences at home
- Graph 7: appeal of consuming food/drink on your own while experiencing a virtual reality environment (eg a beach with the sound of waves), by generation, 2022
- Diversify drinks offerings as growth declines
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key takeaways
About the report
This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.
The consumer
What They Want. Why They Want It.
The Competitors
Who’s Winning. How To Stay Ahead.
The Market
Size, Segments, Shares And Forecasts: How It All Adds Up.
The Innovations
New Ideas. New Products. New Potential.
The Opportunities
Where The White Space Is. How To Make It Yours.
The Trends
What’s Shaping Demand – Today And Tomorrow.
Below is a sample report, understand what you are buying.
Please Note: All of the figures, graphs, and tables have been redacted.
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