{UAH} Global beer sales drying up, says report
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5:48 AM |
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Global beer sales drying up, says report
People are drinking fewer alcoholic drinks, according to a new industry report tracking consumption worldwide.
Beer sales continued to slide last year and the trend towards cider sipping stalled.
The global market for all alcoholic drinks contracted 1.3 per cent in 2016, driven by a 1.8 per cent fall in beer sales, the International Wine and Spirits Record (IWSR) found.
Cider sales went in reverse, down 1.5 per cent after several years of growth.
The overall contraction of international alcohol sales is far greater than the average dip of 0.3% in the previous five years.
The IWSR market report for 2016 found global wine sales to be relatively flat, down 0.1% and spirits consumption grew 0.3%.
UK gin makers could be boosted as the so-called gin revival continued, with sales of the iconic British tipple up 3.7% globally.
Although global GDP increased 3.5 per cent in 2016, according to the IMF, and economic growth usually correlates with increased alcohol consumption several major economies, China, Russia and Brazil all faced an economic slowdown or recession.
Beer sales in China fell 4.2 per cent, were down 5.3 per cent in Brazil and dipped 7.8 per cent in Russia.
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