LONDON, July 28, 2016 /PRNewswire/ --
Confidence in the global drinks industry has been dealt a significant blow by the UK's decision to leave the European Union (EU), an exclusive just-drinks survey shows.
- Short- and long-term industry confidence reduced, especially in the UK
- At least two years before full implications of Brexit understood
- UK and European respondents more pessimistic than Rest of World
Almost two-thirds (64.9%) of UK respondents said their confidence in the industry's short-term prospects had been reduced over the past three months, with a similar number (64.2%) saying the same about its long-term potential.
Non-UK European respondents were slightly less pessimistic, while those in the rest of the world were the most optimistic - but, even here, only 13% said their short-term confidence had risen in the run-up to the Brexit vote.
The industry does not expect the implications of Brexit to be fully understood for some time: the vast majority believe it will take at least two years and, among UK respondents, 45% predict it will take at least five years.
The Brexit Confidence Survey, carried out over a two-week period in July, also covered the automotive, apparel and food industries. UK drinks respondents were notably more pessimistic than their food counterparts, with 64.9% expressing reduced short-term confidence, versus 45.2% for food.
Established in 1999, just-drinks is the online resource for the global beverage industry, publishing around 20 news articles, analysis features and insights every working day. Under the direction of managing editor Olly Wehring, its experienced team of journalists, consultants and analysts provide a unique and comprehensive blend of reports and interpretation of the beverage industry, including key events, trends, interviews and research that are delivered to over 92,000 business executives per month.
Through its drinks industry analysis, research, news and CONSULT bespoke market research service, just-drinks offers insight into wine, beer, spirits, soft drinks, and bottled water industry developments, statistics and key supply-chain trends. For details of how just-drinks is helping decision makers make decisions, visit www.just-drinks.com
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