- Kristoffer Trolle/flickr
For the first time in a decade, the global population is drinking less.
Globally, 1.7 billion fewer liters of alcoholic beverages were sold in 2015 compared to 2014, a decline for 0.7%, research firm Euromonitor has reported in a release.
Regions including China, Brazil, and Eastern Europe can be held responsible for the decline, with the areas’ alcohol sales decreasing 2.5% to 4.9% by volume.
On the other hand, Americans continue to up their alcoholic intake, with Euromonitor calling the country’s 2.3% growth a “shot of optimism in an otherwise sobering global landscape.”
“While initial forecasts suggest a gradual recovery from 2016, performance will remain substandard compared to historical trajectories,” Spiros Malandrakis, Euromonitor’s senior alcoholic drinks analyst, said in a statement.
Globally, rum and vodka have been some of the worst performers, while millennial favorites such as premium English gin, Irish and Japanese whiskey, dark and non-alcoholic beer have grown in popularity.
In addition to drinking less, consumers around the world are increasingly drinking at home instead of going out to restaurants and bars – a trend, dubbed “hometainment” that is alive and well in the US.
“People, more and more, want to have good moments with their friends at home,”Gilles Bogaert, CFO of liquor company Pernod Ricard, told Business Insider.According to Bogaert, the trend spans from emerging markets, where safety can be a concern when drinking outside of the home, to the US, wherea recent survey found that47%of millennial and 61% of Gen X and Boomer respondents would rather drink wine at home than at social gatherings, restaurants, or wineries.
Ultimately, liquor, wine, and beer companies don’t mind if consumers drink at home or in bars – as long as they start drinking more in 2016 than they did last year.