The global beverage alcohol industry is poised for a decade of steady growth, according to new forecasts released by data and insights firm IWSR. The projections, which align with the company’s 2024 industry outlook, highlight a resilient sector navigating a complex political and economic environment.
Despite a 1% decline in global beverage alcohol volume in 2024, overall value rose by 1%, signaling a continued trend of premiumisation. Growth was particularly robust in several developing markets, with India emerging as a major driver. The country posted a 6% increase in total beverage alcohol volume and a 9% rise in value, led by significant gains in beer and whisky consumption.
Brazil also showed signs of upward momentum, with total beverage alcohol volume increasing slightly by just over 1% and value jumping 5%. The most dynamic segments included premium beer, ready-to-drink (RTD) beverages, and brandy. South Africa recorded even stronger performance, with volume up 3% and value surging 10%, primarily fueled by beer and the growing popularity of wine-based RTDs—positioned as an accessible and trendy alternative to traditional wine.
On the global stage, non-alcoholic beverages continued to make significant inroads. Non-alcoholic beer volumes climbed 9% in 2024, and IWSR projects that this category will overtake ale as the world’s second-largest beer segment by volume within the year.
RTDs also maintained global momentum, with volume growing by 2% and value by nearly 5%. While hard seltzers are in decline, other subcategories such as cocktails, long drinks, and hard teas have seen substantial growth. Notably, hard tea volumes in the U.S. rose 31% year-over-year.
Although overall beer consumption fell in 2024, premiumisation trends offered a silver lining. In China, premium beer volume rose by 1%, while in the U.S., super-premium beer grew by 2%. Stouts performed particularly well, with the U.K. seeing a 15% volume increase and the U.S. reporting 5% growth.
Global spirits volume declined by 2% over the year, though notable gains were recorded in certain regions and categories. Scotch whisky consumption in India rose by 6% in volume and 7% in value. India is projected to become the world’s largest Scotch market by 2027, highlighting its potential as a key destination for premium and luxury brands. Additionally, Tequila saw a 2% increase in volume and a 4% rise in value outside its home market of Mexico.
As part of its 2024 release, IWSR introduced two new tools: a global forecast suite and enhanced on-trade value data, offering strategic insights into future market trajectories.
“The momentum for beverage alcohol growth has decisively shifted toward developing markets,” said Emily Neill, chief operating officer at IWSR. “India is expected to be the primary growth engine over the next decade, followed by Brazil and Mexico.”
Martin Belchev, IWSR’s senior economist, emphasized the broader economic implications: “Rising disposable incomes in developing regions are set to drive volume opportunities. However, global uncertainty will continue to pose risks to both demand and operations, requiring stronger scenario-planning capabilities.”
The data underscores a clear pivot in the global alcohol landscape, as emerging economies reshape consumption trends and industry strategies for the decade ahead.
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