LONDON, January 18, 2018 /PRNewswire/ --
The vodka category is facing a number of challenges in markets around the world, from long-term decline in traditional destinations to threats from dynamic rival spirits sectors in Western countries, a new report warns.
Released last month, the Global Vodka Insights report from just-drinks and the IWSR illustrates the complex nature of current trends in vodka, with traditional, high-volume countries continuing to decline, but higher-priced brands still displaying some growth potential.
While global vodka sales in 2016 fell 3.4% to 461.3m cases, standard-and-above products grew by 2% to 133.6m cases, reversing the declines of the year before.
The next five years are poised to mirror these trends: while declines for the overall category are set to accelerate slightly, slow growth will continue at higher price-points.
Much of the volume decline comes from Russia, the CIS countries and Eastern Europe, but the report sees worrying signs of stuttering growth in previously buoyant Western markets.
In the US, the flavoured market has been hit hard in recent years, while rivals such as whisky and Tequila are currently doing a better job of engaging with consumers - especially Millennials.
Vodka remains the largest spirits category in Europe, but growth has proven elusive since 2008, mainly thanks to contractions in the large Polish market.
Nonetheless, declines are now forecast in the UK, and the report warns that, if vodka does not "grow up", developing new ways of showcasing its distinctive characteristics and evolving a fresh innovation agenda, it risks being left behind by trendier rivals such as gin.
About the IWSR
The IWSR is the leading source of data and analysis on the beverage alcohol market. The IWSR's database, essential to the industry, quantifies the global market of wine, spirits, beer and mixed drinks by volume and value, and provides insight into short- and long-term trends. Our data is used by all of the largest multinational companies, as well as many more local companies. The IWSR's unique methodology allows us to get closer to what is actually consumed and better understand how markets work. The IWSR conducts face-to- face interviews with over 1,500 companies in 118 countries each year, with further input from 350 companies. The IWSR tracks overall consumption and trends at brand, quality and category level. The IWSR Magazine, written by the IWSR's specialist international analysts, features industry news, new products, interviews with key industry players and in-depth market analysis based on unique access to the IWSR's data.
just-drinks.com is the online news, insight and research portal for the global drinks industry. Our editorial team includes contributors from around the world, while our commentators comprise experts in their respective fields of beer, bottled water, soft drinks, spirits (both brown and white) and wine. Under the direction of managing editor Olly Wehring, we offer an impartial voice and are driven by our passion for the drinks industry.
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SOURCE just-drinks and The IWSR