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Quality and authenticity, localism, ethical consumption: post-Covid trends, according to Iwsr

According to the UK agency, the pandemic will further accelerate trends and changes in the wine and spirits sector
Quality and authenticity, localism, ethical consumption: post-Covid trends, by Iwsr

The Covid-19 pandemic is far from being overcome globally and will have more profound changes than expected on the wine and spirits industry. Which, essentially, will result in an acceleration of changes already underway, such as the growth of digital, attention to authenticity and typicality of products, the sustainability of the entire production process, health, and so on. To underline this, among others, the latest analysis of International Wine & Spirits Research. Among the macrotrends to consider, the one summarized under the heading “Sophistication & Premiumisation”, driven by the growth of consumer knowledge and a review of purchasing power.
From this point of view, wine and spirits in the premium segment and beyond are expected to see their market share grow further, reaching 13% by 2024, with consumers increasingly focused on quality rather than quantity. In terms of value, China and the United States will continue to compete for consumption leadership in this segment.
Then there is the trend of “Evolving Traditions” which calls into question the generational change of the consumer base, but also their behavior, linked to globalization, as a reaction to it: local products and experiences, enhanced more than ever by travel restrictions and the closure of borders in many countries, will continue to be increasingly popular, also for their symbolic value and support to producers by their communities.
At the same time, the restrictions and new regulations that bars and restaurants in the world have had to and must observe, have pushed consumers, especially young people, to consolidate new consumption habits that seem destined to last in the future, such as the growth of more practical and portable formats such as canned wine and all “ready to drink” formats.
Again, there is the great theme of “Health and Ethical Consumption”. A trend that crosses all product categories, including wine and spirits. In general, everything associated with well-being is rewarded, and this explains the growth of all beverages with low alcohol content, such as non-alcoholic beer, which should see its market share rise to 4.4% of the total in 2024.
Linked to this there is also the further growth of organic wine: if, as in 2019, the most important markets will remain Germany, France, United Kingdom, United States, Sweden, and Japan, here as elsewhere the push towards this kind of wines will be increased by phenomena driven both by consumers and by political choices of the different countries, which will have deep implications for the whole wine and beverage sector, from production to packaging, from distribution to regulations.

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