INTERNATIONAL. Key findings from IWSR’s Global Trends Report 2016 indicate that experimentation, convenience and brands that fit customers’ lifestyles are considered most important to drinks consumers.
The report, which includes analysis of 118 countries, looks across geographic and category boundaries to identify developments in the global alcoholic drinks market.
According to IWSR, the report suggests that most regions and markets worldwide last year saw consumers trading up to higher value products across a wide range of categories. This trend included a significant increase in the number of craft producers and brands across every category; the growth of premium niches such as mezcal and Japanese whisky; and the revival of aged brown spirits.
Last year witnessed a further erosion of the boundaries between categories, which led to the launch of a number of new products that span multiple categories, such as ‘speers’ (spirit beers) and ‘spiders’ (spirit ciders). According to IWSR, consumers are showing an increasing willingness to switch categories if another appears more dynamic or fashionable. This has led to migrations not only within spirits, but also between broader categories, says the report.
The study also reveals that the demand for authentic, high-quality brands and new flavours from Millennial consumers in regions such as North America, Europe and Australasia has been the driving force behind much innovation. Female consumers are becoming important in emerging regions such as Latin America, Africa and Asia, said IWSR.
On the whole, markets worldwide have been shaped by greater awareness of the dangers of excessive alcohol consumption and consumer desire to live a healthier lifestyle, the report suggests. Producers have been quick to respond to evolving consumer demands by launching ‘lighter’ drinks with lower alcohol or calories.
Lastly, the report indicates that the appeal of greater convenience has been a driving force behind several recent developments in the alcoholic drinks industry. These include the evolution of new formats, such as canned wines and wines on tap. On the retail side there has been significant growth in online sales, both via supermarkets and specific e-retailers, which allow consumers to order drinks quickly and easily direct to their door.
