IWSR Projects Stable Growth in Wine and Spirits, Highlighting Emerging Markets

According to forecasts by IWSR (International Wine and Spirits Record), the global wine and spirits market is expected to grow steadily over the next ten years. These projections align with the 2024 annual report, which described a year marked by political and economic challenges.
In 2024, global wine and spirits volumes declined by 1%, while market value rose by 1%. Nonetheless, several emerging markets recorded significant growth. India stood out with a 6% increase in total volume and a 9% rise in value, showing positive trends across categories, particularly in beer and whisky.
Brazil experienced a modest volume increase of just over 1%, with value rising by 1%, driven by the growth of ready-to-drink (RTD) beverages and brandy. South Africa reported even stronger gains, with volume growing 3% and value increasing by 10%. IWSR analysts attribute this growth mainly to RTDs, including wine-based options, favored for their accessibility and modern image.
RTD products continued expanding globally, increasing 2% in volume and nearly 5% in value. Although seltzers declined, cocktails and long drinks gained momentum in most major markets.
While global spirits volume fell by 2% in 2024, certain markets and segments experienced noteworthy increases. For instance, Scotch whisky consumption in India grew by 6% in volume and 7% in value, with projections indicating India will become the largest Scotch market worldwide by 2027. Additionally, tequila showed strong growth outside Mexico, increasing by 2% in volume and 4% in value internationally.

Source: The Drinks Business