Artisanal production expected to increase in value by $ 37 billion
July 28th – The global alcoholic beverages market is increasingly growing, riding the overwhelming wave of craftsmanship and “premiumization”. The “less is better” logic is leading to a steady growth in the average expense per bottle: consumers are buying more and more consciously, preferring quality over quantity.
According to the latest data by IWSR Drinks Market Analysis, the value of the global spirits market grew by 12% in 2021, reaching $ 1,17 billion, recovering the 4% losses caused by the pandemic in 2020. The driving factors of this trend include the development of e-commerce, the growing importance of domestic consumption and the emergence of Craft Spirits and Ready to Drink. Even during the Covid emergency and the lockdowns, therefore, consumers continued to buy high-end products and were comfortable making and consuming cocktails at home.
Ready to Drink products, in particular, achieved a +14% increase in volume during 2021, following a +26% growth in 2020. Globally, this category is expected to grow +44% in volume and +51% in value over the next 5 years.
Market Research Future predicts that the worldwide RTD Spirits Market size is projected to hold a compound annual growth rate (CAGR) of 4.05% during the forecast period of 2020 to 2027. Furthermore, the global market is estimated to reach $ 6.23 million during the analysis period of 2027.
The craft spirits and liqueurs segment is also experiencing significant growth globally, according to a report by Technavio: it is expected to increase in value by $ 37 billion between 2020 and 2025, with a compound annual growth rate (CAGR) of 22.56%.
According to the experience of Jacopo Poli, owner of Poli Distillery (a historic artisanal distillery in Veneto – Italy – that exports to more than 65 countries around the world), “2021 has been a year full of challenges but also opportunities for our sector. The pandemic period put us to the test but also encouraged us to go beyond our comfort zone. Thanks to a generous harvest, combined with the dedication and passion of our employees, Poli Distillery ended the year with double-digit growth.”
“Positive signals – continues Jacopo Poli – have come, above all, from foreign markets, with a steadily growing demand and important international recognitions. The two medals awarded by the prestigious Meininger’s International Spirits Award to Poli Distillery’s products (Gold for Airone Rosso – Aperitivo Veneto and Silver for Gran Bassano Rosso Vermouth) represent for us an important testimony to the growing interest in traditional and artisanal liqueurs, currently the protagonists of an overwhelming process of rediscovery and enhancement.”
“A transition is also currently taking place in consumption habits. We think that Generation X and Millennials will increasingly drive demand. As the average age of the Craft Spirits consumers goes down, the quality (and average price) of the products our customers choose goes up. This process is accompanied by a rejuvenation of the perception of products that are strongly anchored to the past, to tradition and to territorial boundaries, such as our Grappa, which today enjoys renewed fame and important international recognition among operators and experts in the sector, bartenders and end consumers of all ages. Just think – concludes Jacopo Poli – of the Ve.N.To. cocktail, the first Grappa-based drink included in the official IBA 2020 list of New Era Drinks.”
And it is precisely the prospect of a new era that has driven companies such as Poli Distillery to invest in research and innovation, as demonstrated by the expansion of the Poli product range aimed at mixing, with the new Marconi 42 gin and Party Drink, a premixed cocktail with a professional 3-litres format, available in two versions, both in a “bag in tube”: THE GREAT AMERICANO COCKTAIL, masterfully prepared by calibrating Gran Bassano Rosso Vermouth and Super Taurus Bitter, and THE GREAT NEGRONI COCKTAIL, a harmonious mix of Marconi 46 Gin and Gran Bassano Rosso Vermouth with the decisive touch of Super Taurus Bitter.
