New data from the IWSR, the global authority on beverage alcohol data and intelligence, has revealed the US beverage alcohol market continued to shrink in the first seven months of 2024, with volumes declining more than expected.

The value of the global alcohol market grew by 12% to reach US$1.17 trillion in 2021, making up for the 4% covid-driven losses in 2020, new data from IWSR Drinks Market Analysis has found.

Demand for ready-to-drink (RTD) products continues to grow amongst consumers, with the category expected to account for 8% of total beverage alcohol by 2025 according to a new report from IWSR Drinks Market Analysis.

Beverage alcohol in Asia Pacific markets is expected to gain more than +2% in volume and more than +4% in retail value by the end of 2021, according to IWSR Drinks Market Analysis.

In 2020, beverage alcohol consumption in the US saw the largest volume gain in nearly 20 years.

The global drinks industry is showing positive signs of recovery and will grow in volume by 2.9% by the end of 2021, according to new IWSR forecasts.

Global drinks industry data provider IWSR has purchased consumer insights firm Wine Intelligence for an undisclosed sum.

The US off-trade has seen soaring sales of wine, spirits and beer as shoppers stocked up ahead of a lengthy coronavirus lockdown, according to Nielsen stats.