New Delhi: India and China are expected to be the two fastest-growing markets for spirits globally and India will overtake Russia to become the second-largest spirits market globally in 2013, according to the IWSR's Forecast Report 2010-2015.
All spirits categories will show growth in India in the forecast period, with vodka predicted to show the highest percentage growth: 12 per cent between 2009 and 2015.
Consumption of vodka in Germany is expected to outgrow that in the UK, while India is likely to overtake both Germany and the UK to become one of the top five markets for vodka worldwide by 2015, the IWSR report said.
The IWSR (International Wine and Spirit Research) was started in 1971 as a subsidiary of the market research company, System Three Communications.
Initially founded as a service for just one client and covering 11 countries, the IWSR has grown to encompass over 220 countries and territories.
The report said several countries and categories are returning to stability or growth in 2010, but the time and speed of recovery will vary considerably depending on local circumstances.
Most spirits categories will see more moderate growth until 2015 than they have in the last five years. This is largely due to the cautious spending behaviour adopted by consumers after the economic recession took its toll on many markets.
Despite repeated claims to the contrary, the vodka market in the US continues to develop well and growth is expected to be strong in the future.
By 2015, more than every third bottle (35.1 per cent) of spirits sold in the US will be vodka.
In spirits generally, the super-premium-and-above price segments are likely to see the highest increases in percentage terms, as consumers will be more confident and able to trade up once again.
The IWSR forecasts in detail those 53 markets that have been identified as the most significant to the wine and spirits industry. Market information is gained by The IWSR’s researchers visiting around 120 markets each year, and meeting local producers, distributors and industry experts.
Comments
0 comment