LONDON, November 25, 2014 /PRNewswire/ --
Worldwide vodka sales fell by 1.1% to 496.4m cases in 2013, according to a new just-drinks/The IWSR report, hit by continued declines in Eastern and Central Europe. However, the sector "continues to thrive" elsewhere, notably in the Americas and Asia-Pacific, where sales were up by 1.4m and 1.5m cases, respectively.
The market research report, 'Global vodka insights - market forecasts, product innovation and consumer trends research', forecasts that the category will return to growth, with IWSR expecting vodka sales to peak at just over 500m cases in 2016, before undergoing a "slight downward correction".
The IWSR also forecasts "unrelenting" growth in the US, with the market predicted to reach 75m cases by 2018.
Sales in the Commonwealth of Independent States (CIS) have declined by 52.5m cases since 2004 to just under 308m cases, the report states, but sales in the Americas region over the same period have increased by 33.8m cases to 87.6m cases.
In retail value terms, the Americas saw sales rise in 2013 by 1% to US$15.2bn, although this represented a deceleration from previous rates of growth, the report says. The growth in retail value sales in North America more than offset declines in Central and South America, but pricing in the US has come under increasing pressure in the past few years, the report notes.
Meanwhile, the CIS saw a substantial 10.4% rise in retail value sales last year, but this was chiefly attributable to tax increases, particularly in Russia.
In Europe, retail value sales rose by 6% in 2013 to US$12.2bn on the back of increasing premiumisation across many markets. Travel Retail saw a 3.5% rise in value sales to $593.8m.
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
About The IWSR
The IWSR is the leading source of data and analysis on the alcoholic beverage market. The IWSR's database, essential to the industry, quantifies the global market of wine, spirits, beer and RTDs by volume and value, and provides insight into short- and long-term trends. IWSR statistics are used by all of the largest multinational wine and spirits companies, as well as many more local companies.
The IWSR's unique methodology allows them to get closer to what is actually consumed and better understand how markets work. The IWSR conducts face-to-face interviews with 1,500 companies in 118 countries each year, with further input from 350 companies. The IWSR tracks overall consumption and trends at brand, quality and category level.
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SOURCE just-drinks.com / The IWSR