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Tariffs, RTDs Among Sector Influences

By July 21, 2021Top News

The whisky category showed mixed results in the latest IWSR Drinks Market Analysis, as tariffs negatively impacted single-malt Scotch (-6.1% in volume), while bar and restaurant closures impacted Irish whiskey sales (-0.5%). Last year marked the first time on record that these posted volume declines in the U.S. Total whisky volumes grew +4.9%, led by Japanese, Indian and U.S. whiskies, in that order. Wine grew slightly at +0.7% by volume and +1.5% by value in 2020, reversing declines seen in 2019. Both still and sparkling wine volumes were +0.8%. Still wine is forecast to decline, the report noted. Low-alcohol wine volumes more than doubled in 2020 and imported wine volumes grew more than domestic U.S. wine (+2.5% versus +0.3%) from markets with no tariffs in place. The RTD category is expected to grow 22% in volume share of total beverage alcohol by 2025. RTDs grew +62.3% by volume in 2020, led by hard seltzers, which grew +130%.

 

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