Whiskey has a sunny future in America while beer sales here will continue to slip.
So claims a report released this week by the International Wines and Spirits Record, a provider of volume and value data on global consumption of beverage alcohol.
Newly published data in the IWSR 2017-2021 Forecast indicates that global volumes of whisky, gin and tequila are expected to make gains of 55.2 million, 7.1 million and 5.8 million nine-litre cases, respectively, over the next five years, following their rapid growth in 2016.
The United States is expected to be the second largest growth market globally for whiskey (after India). Tequila will also make its largest gains on the US market, the report claims.
Despite being a top growth market for many categories, however, the report believes that the total U.S. alcohol market will decline by 37 million cases over the next five years. “The forecasted growth in wine, whisky and tequila is not enough to offset declines in beer, cider and mixed drinks,” the report says.
The IWSR 2017-2021 Forecast looks at the global alcoholic beverage market over the next five years, covering the most recent and future trends for all wine, spirits mixed drinks, beer and cider categories in 64 countries and straight-lines the remaining countries. The straight-line forecasts are then modified by the IWSR’s analysts.