Global market for alcoholic beverages not expected to rebound until 2024


Global alcohol consumption grew in 2019, however, new IWSR research forecasts that Covid-19 will push 2019 volume gains back by 5 years


According to the latest IWSR Drinks Market Analysis, the ongoing Corona-virus pandemic will have a “deeper and more long-lasting impact on the global drinks industry than the 2008 financial crash”. IWSR believes the impact will be this time bigger on small craft producers who “rely on cellar door and on-trade sales, both of which have been negatively impacted by the pandemic”. The conclusion of the IWSR Drinks Market Analysis “forecasts total global alcohol consumption will experience double-digit declines in 2020 and will take until at least 2024 to reach pre-crisis levels”.