Beverage alcohol set to grow $34bn in key markets by 2034 – Report

By Ralph Tathagata

Beverage alcohol set to grow $34bn in key markets by 2034. This is according to a latest report from IWSR.

Tthe global leader in beverage alcohol data and insights, shows that the beverage alcohol industry experienced a mixed 2024, as global beverage alcohol volume dropped 1% while value increased 1%.

India emerged as a key growth market in the 2024 data, growing its total beverage alcohol (TBA) volume by over 5% and increasing value by 9%. All categories within the market showed growth, with beer and whisky leading the expansion.

Brazil increased its TBA volume by just over 1% in 2024, while value rose by 5%. Premium beer, RTDs, and brandy contributed to the country’s growth.

Commenting on the report, IWSR COO Emily Neill said, “Beverage alcohol growth momentum has decisively shifted towards developing markets. Our new Global Forecast Suite really lays bare the extent of the coming change, as the combination of demographic changes, shifting economic growth patterns and the long-run moderation trend in developed markets take full effect.”

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IWSR, the global leader in data, analytics, and insights for the beverage alcohol industry, also launched two new products: the Global Forecast Suite and On-Trade Value data.

The Global Forecast Suite delivers volume and value forecasts with an expanded ten-year horizon for the top markets. Using these forecasts, IWSR expects beverage alcohol to grow by $34bn over the next decade across the industry’s leading markets.

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IWSR’s On-Trade Value data provides the first cross-market view of value from a price-to-consumer perspective in on-trade venues across twenty key markets. This new product gives users a transparent view of this critical but notoriously opaque channel.

Non-alcoholic beverages continued to grow strongly in 2024. Specifically, non-alcoholic beer volume rose by 9%, and IWSR projects it to surpass ale and become the second-largest overall beer category by volume worldwide this year.

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IWSR combines proprietary longitudinal market data, consumer insights, and AI-enhanced data science with on-the-ground human intelligence in 160 markets worldwide to reveal what is really happening in the global beverage alcohol market.