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
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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
What is a 'Future of' Report?
Have you ever wondered how to get a clear view of what’s next for your industry? Forget the crystal ball, what you need is a Mintel ‘Future of’ reports. The reports offer a forward-looking perspective, helping you identify upcoming opportunities and navigate the trends that will shape your business for the next five years and beyond.
How Mintel Builds a Picture of the Future
Creating a ‘Future of’ report is a comprehensive process that combines deep data analysis with expert human insight. Here’s a look at the core components that make these reports so valuable.
Expert Insights from Category Analysts
Our dedicated category analysts are at the heart of these reports. They bring years of industry experience and a deep understanding of global markets. They interpret complex data, connect the dots, and provide you with expert recommendations on what to expect in the next two years, five years, and even further into the future. They provide the strategic thinking you need to stay ahead.
Powered by Robust Data
Our analysis is grounded in solid data. A key source is Mintel’s Global New Products Database (GNPD), a powerful resource that tracks product innovation and launches around the world. By analysing this wealth of information, we can spot emerging patterns and shifts in the market. This data, combined with our knowledge of consumer behavior, allows us to anticipate what consumers will want next.
Designed for Forward-Thinking Strategy
Our ‘Future of’ reports are designed to help you look ahead with confidence. By focusing on trend forecasting and identifying future opportunities, these reports provide the insights you need to innovate and plan effectively. They are crafted specifically to help you anticipate market shifts and make proactive decisions, ensuring you and your business are prepared for what’s to come.
For a closer look at what's included in a Mintel Future of report, take a look at a sample PDF report below.
Please Note: All of the figures, graphs, and tables have been redacted.
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