Spirits Set to Overtake Wine in Global Sales: Trends and Numbers

A report by the World Spirits Alliance predicts that spirits such as vodka and whisky will soon surpass wine in global sales due to shifting drinking preferences. In 2022, spirits accounted for 9.9% of beverage alcohol volumes but represented 40% of total sales value. Indian whisky is poised for significant growth.

A recent report by the World Spirits Alliance forecasts a historic shift in global alcohol sales, with spirits like vodka and whisky expected to surpass wine. The predictions, based on data from Oxford Economics and market research firm IWSR, reveal that 2.67 billion cases of spirits were sold in 2022, closely trailing the 2.8 billion cases of wine.

Trends indicate an increasing preference for fewer but more expensive drinks, especially cocktails. This shift has led to spirits gaining popularity over wine. The wine industry is grappling with challenges such as a global supply glut and declining demand, which is at a 27-year low. Beer companies are also experiencing a market shift towards spirits.

In 2022, beer dominated total beverage alcohol volumes at 75.2%, followed by wine and spirits. However, in terms of sales value, spirits led with 40%, outpacing beer and wine. Indian whisky is projected to be the fastest-growing spirits category through 2027, with other spirits like tequila, rum, and gin also seeing growth. The spirits sector contributed approximately $730 billion to the global economy last year, encompassing various activities from farming to retail.

(With inputs from agencies.)