Wine and Spirits Market - Overview, Consumer Behavior and Market Trends

Overall, the alcoholic beverage industry has a significantly adverse impact due to the COVID-19 pandemic. Via both on- and off-trade channels, spirits volume sales were impacted heavier than wine. However, wine and spirits sales will bounce back from the COVID-19 pandemic impact but volume sales growth is expected to be sluggish in the coming years. Due to the health crisis, consumers become more health-attentive, thus innovation themes focusing on better-for-you aspects are highly notable.

This report outlines the market trends and consumer behavior impacting specifically the wine and spirits sectors and what implications these may have on the industry's future. It further explores the evolution of the market amid COVID-19, company performances, and news, as well as inspiring product innovation.

Scope

• Global multinational players have an advantage in the global wine and spirits market.
• Consumers buy alcoholic drinks mostly via hyper or supermarkets, but online shopping channels have potential to grow.
• Home entertainment is a key innovation feature in the post-COVID-19 world.

Reasons to Buy

• Understand the relevant market and consumer trends that are driving the wine and spirits sectors.
• Gain a broader understanding of the impact of COVID-19 on the sectors and its impact on consumer spending and preferences.
• Access valuable strategic take-outs in the form of specific opportunities to enhance future decision-making and inform new product development.