2023 Trends in the Alcoholic Beverage Industry - US and Europe
There have been significant shifts in drinking trends and habits across the global alcohol markets over the past couple of years. As we enter into 2023 amidst a further loosening of on-premise and travel restrictions, consumers are showing an eagerness to get back out to bars, nightclubs, breweries and distilleries. But that doesn’t mean that we can expect to see a total return to pre-pandemic lifestyles. Rising inflationary pressures in Europe and the US are having consumers think carefully about where and how they purchase their beverages of choice. Snipp put together a primer on some key factors that are expected to influence the alcoholic beverage industry in US and Europe over the next year, some of which include:
- At-home cocktailing has made high-end spirits ascendant in the US, prompting a push towards premiumization in all major categories
- Post-lockdown consumer profiles are blurring and changing, as US and European drinkers cite a willingness to experiment with their alcohol
- Led by Gen Z and Y, health and wellness considerations are fuelling a surge in "better-for-you” alcoholic alternatives, permanently changing the way retailers stock shelves
Download the report to learn about the emerging trends we've earmarked for alcoholic beverage brands to consider, as well as some marketing strategies to contend with today’s changing consumer profile.