U.S. Spirits Consumption Grows for 11th Straight Year; Domestics Have Faster Growth than Imports
NORWALK, Conn., July 28 /PRNewswire/ -- According to the Beverage Information Group's recently released 2009 Liquor Handbook, total distilled spirits consumption rose 2.1 percent in 2008 to 185.6 million 9-liter cases. This gain marks the eleventh consecutive year of advances for the industry.
A development cited in the 2009 Liquor Handbook is that imported spirits' growth was slower than that of their domestic counterparts for the first time since 2001. This is a direct result of not only consumers trading down, but of the dollar's weak value that has raised prices as well as tightened margins for imported brands. Total imported spirits rose 1.7% to 74.3 million cases compared with slightly faster growth for domestics (+2.5% to 111.3 million). This directly contrasts to the previous trend when the higher-priced imported sector typically outpaced the growth of the domestic segment.
The distilled spirits business remains very healthy-although growth pulled back slightly last year due in part to the recessionary environment. The drivers continue to be the wide array of flavored products in the market coupled with sales that now run the gamut of the price spectrum from above-premium offerings to value-priced offerings, which are outpacing the overall market.
"With consumers tightening their spending, they are frequenting bars and restaurants less, which has lead to a measurable shift to off-premise consumption," says Eric Schmidt, manager of information services for the Beverage Information Group, Norwalk, Conn. "On-premise sales dropped 3.0% to $35.3 billion, whereas off-premise sales have jumped 9.6% to $27.6 billion."
The 2009 Liquor Handbook is one of the most comprehensive sources of information on U.S. spirits and sales trends. It includes consumption and projection information by category and by market; tracks leading brands; and reports historical data.
The 2009 Liquor Handbook is $845; handbook with CD is $1,015. Shipping and handling is $10 for U.S. and Canadian orders, $20 for international orders. The publications can be purchased at www.beveragehandbooks.com or by calling Cynthia Porter at (630) 762-8709.
About the Beverage Information Group
The Beverage Information Group, a division of M2MEDIA360, serves all segments of the beverage alcohol industry through Cheers, Beverage Dynamics and StateWays magazines, Handbooks, Beverage Research and www.bevinfogroup.com.
Contacts: The Beverage Information Group Eric Schmidt, manager of information services 203-855-8499 firstname.lastname@example.org Cynthia Porter, Sales 630-762-8709 email@example.com www.beveragehandbooks.com
SOURCE The Beverage Information Group