Premiumization continues to drive US alcohol sales

Published 2023년 1월 12일

Tridge summary

Despite a decrease in the volumes of wine, beer, and cider in 2022, the premium segments of these beverages experienced growth. The spirits category saw a 2% increase, with premium spirits growing by 13%. Ready-to-drink beverages also showed moderate growth, with premium spirits-based RTDs and hard teas experiencing momentum. Sparkling wine continued its 21st consecutive year of volume and value gains. The pandemic disrupted the alcohol market, leading to a rise in e-commerce sales and an on-premise recovery, with a full return to pre-pandemic volumes expected in 2023.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

While total volumes of wine (-2%), beer (-2%) and cider (-4%) all declined in 2022, the premium-and-above segments of each grew: wine (+6%), beer (+4%) and cider (+11%). Total spirits volumes were up +2%, with premium+ up +13%, while RTDs showed moderate gains at less than +1% with premium+ up +38%. Furthermore, long-term premiumization trends in spirits has boosted the category with crossover in RTDs as pre-mixed cocktails and spirit-based RTDs gaining ground. Premiumization has been a long-term trend. But as inflation and economic uncertainty continue to bite, why are consumers still willing to pay more? Firstly, premium consumers still have money to spend and many still feel secure in their own personal finances, notes IWSR. High-income drinkers (those earning over $150,000), for example, were especially secure, and across all demographics, Millennials show more confidence than older drinkers. IWSR consumer data shows consumer spending and purchasing volume are up in 2022 vs ...

Source: Beveragedaily