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IWSR’s comprehensive annual analysis and forecasts predict that global beverage alcohol volume growth will slow to 1% a year between 2022 and 2027. India and Mexico accounted for over half of the global volume growth in 2022, and together with Brazil, are expected to continue to be key volume markets over the next 5 years, the research finds. Despite expected volume declines in the US and China, the two countries are expected to remain key to value growth as consumers trade up, with the US market value expected to grow by $12bn and China expanding by almost $42bn over the five-year period.

“The key trends that have underpinned the industry, such as premiumisation, will evolve as consumers respond to the increased cost of living crisis,” said IWSR CEO Mark Meek. “The industry will, however, still deliver pockets of significant value growth.”

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