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.
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.
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.
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.
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
Mintel is the world’s leading market intelligence agency. We show you how consumers think today and tomorrow. As a trusted partner to industry leaders, we deliver game-changing insights to businesses across the globe, fuelling their marketing and innovation strategies that will shape the future.
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