The value of craft production is expected to increase by 37 billion dollars
July 28 The global alcoholic beverage market is growing rapidly, riding the tide of craftsmanship and ‘excellence’. The logic of “less is better” leads to a steady growth in average expenses per bottle: consumers are buying more and more consciously, preferring quality over quantity.
According to the latest data from the IWSR Alcoholic Beverage Market Analysis, the value of the global spirits market grew by 12% in 2021, reaching $1.17 billion, to offset 4% of the losses caused by the pandemic in 2020. Driving factors for this trend include the development of E-commerce and the growing importance of local consumption and the emergence of artisanal and ready-to-drink spirits. Even during Covid emergencies and lockdowns, consumers continued to purchase high-end products and were comfortable making and consuming cocktails at home.
Ready-to-drink products, in particular, achieved a 14% increase in volume during 2021, after +26% growth in 2020. Globally, this category is expected to grow +44% in volume and +51% in value during Next year 5 years.
The future of market research predicts that the global RTD spirits market size is expected to maintain a compound annual growth rate (CAGR) of 4.05% during the forecast period from 2020 to 2027. Moreover, the global market is estimated to reach $6.23 million during the analysis period 2027. .
The spirits and liquor sector is also experiencing significant growth globally, according to a report by Technavio: its value is expected to increase by $37 billion between 2020 and 2025, with a compound annual growth rate (CAGR) of 22.56%.
According to the experience of Jacopo Poli, owner of Poli Distillery (a historic artisanal distillery in Veneto – Italy – exports to more than 65 countries around the world), “2021 was a year full of challenges but also opportunities for our sector. The period of the pandemic put us to the test but also encouraged us to move beyond Our comfort zone. Thanks to a generous harvest, combined with the dedication and passion of our employees, Poli Distillery ended the year with double the growth.”
“Positive signals – continues Jacopo Poli – came above all from foreign markets, with a steadily increasing demand and significant international recognition. The two medals awarded by the prestigious Meininger International Spirits Award are for Poli Distillery products (gold for Airone Rosso – Aperitivo Veneto and Silver for Gran Bassano). Rosso Vermouth) is for us an important testament to the growing interest in traditional and artisanal beverages, currently protagonists of an overwhelming process of rediscovery and improvement.”
“There is a shift currently taking place in consumption habits. We believe Generation X and Millennials will increasingly drive demand. As the average age of consumers of spirits declines, so does the quality (and average price) of the products our customers choose. This process is accompanied by a renewal of the concept of products that are strongly linked to the past, traditions and territorial boundaries, such as Grappa, which today enjoys renewed fame and significant international recognition among operators, experts in the sector, bartenders and end consumers of all ages. Just think – concludes Jacobo Poli – from Ve.N.To. Cocktail, the first Grappa-based drink to be on the official IBA 2020 List of New Era Drinks.”
And it was precisely the prospect of a new era that prompted companies like Poli Distillery to invest in research and innovation, as evidenced by the expansion of the Poli range of products aimed at mixing, with the new Marconi 42 gin and Party Drink, a 3-liter pre-mixed cocktail in a professional format, available In two versions, both in a “bag within a tube”: The Great American Cocktail, masterfully crafted by calibrating Gran Bassano Rosso Vermouth and Super Taurus Bitter, and THE GREAT NEGRONI COCKTAIL, a harmonious blend of Marconi 46 Gin and Gran Bassano Rosso Vermouth with a twist. Decisive from Super Taurus Bitter.