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IWSR: India and SE Asia are the region’s next bright spots
Sales growth of beverage alcohol in India and Southeast Asia is going some way to offset the continued declines seen in China, according to new data from IWSR. The post IWSR: India and SE Asia are the region’s next bright spots appeared first on The Drinks Business.
Growth of beverage alcohol in India and Southeast Asia is going some way to offset the continued declines seen in China, according to new data from IWSR.
Amid difficult trading conditions globally, the Asia Pacific (APAC) region as a whole is feeling the squeeze. Total beverage alcohol volumes across the region fell by 2% in 2024, new data has revealed. In value terms, the decline was 3%.
The only category which saw gains was that of ready-to-drinks, though even this growth was minimal at just 1%.
Beer saw volume declines of 3%, spirits of 2%, including national spirits, and wine was down 4%.
The picture was particularly gloomy in China, where total beverage alcohol volumes were down 5% year-on-year in 2024 amid declines for Cognac, Scotch and national spirit baijiu.
When it comes to Cognac, the spirit is caught in a prolonged China-EU trade spat. Eighteen months after China threatened steep tariffs on European brandy in retaliation for EU action on Chinese EVs, a resolution is yet to be reached. This uncertainty is to thank for the reduced value and volume imports to China, which is typically one of the two largest markets for the French brandy alongside the US.
APAC offers a mixed picture when it comes to the state of the beverage alcohol market over the past year, and it isn't all doom and gloom.
India and Southeast Asia are particular bright spots, according to IWSR. India's total beverage alcohol volumes expanded by 6%. This was spurred particularly by growth in the premium-plus category, which was up by 19%.
Elsewhere, the Philippines, Thailand and Vietnam all recorded volume growth of 2%.
Emily Neill, chief operating officer research and operations for IWSR, said India and the Philippines were "leveraging demographic momentum to fuel [total beverage alcohol] growth" amid stabilising inflation and expanding GDP.
“Meanwhile, Japan and Thailand inch forward, and China continues to underperform, with the real estate crisis and weaker economic outlook significantly reducing the scope for [total beverage alcohol] growth," she said.
“While premiumisation is softening globally, Southeast Asia still offers room to grow value, supported by tourism, cocktail culture and rising affluence. In this slower-growth, value-led environment, staying invested in Asia’s beverage alcohol markets is vital. The region is evolving, with new opportunities emerging.”
Japan (-1%), South Korea (-1%) and Australia (-3%) all witnessed softer declines in total beverage alcohol volumes.
Amid difficult trading conditions globally, the Asia Pacific (APAC) region as a whole is feeling the squeeze. Total beverage alcohol volumes across the region fell by 2% in 2024, new data has revealed. In value terms, the decline was 3%.
The only category which saw gains was that of ready-to-drinks, though even this growth was minimal at just 1%.
Beer saw volume declines of 3%, spirits of 2%, including national spirits, and wine was down 4%.
The picture was particularly gloomy in China, where total beverage alcohol volumes were down 5% year-on-year in 2024 amid declines for Cognac, Scotch and national spirit baijiu.
When it comes to Cognac, the spirit is caught in a prolonged China-EU trade spat. Eighteen months after China threatened steep tariffs on European brandy in retaliation for EU action on Chinese EVs, a resolution is yet to be reached. This uncertainty is to thank for the reduced value and volume imports to China, which is typically one of the two largest markets for the French brandy alongside the US.
APAC offers a mixed picture when it comes to the state of the beverage alcohol market over the past year, and it isn't all doom and gloom.
India and Southeast Asia are particular bright spots, according to IWSR. India's total beverage alcohol volumes expanded by 6%. This was spurred particularly by growth in the premium-plus category, which was up by 19%.
Elsewhere, the Philippines, Thailand and Vietnam all recorded volume growth of 2%.
Emily Neill, chief operating officer research and operations for IWSR, said India and the Philippines were "leveraging demographic momentum to fuel [total beverage alcohol] growth" amid stabilising inflation and expanding GDP.
“Meanwhile, Japan and Thailand inch forward, and China continues to underperform, with the real estate crisis and weaker economic outlook significantly reducing the scope for [total beverage alcohol] growth," she said.
“While premiumisation is softening globally, Southeast Asia still offers room to grow value, supported by tourism, cocktail culture and rising affluence. In this slower-growth, value-led environment, staying invested in Asia’s beverage alcohol markets is vital. The region is evolving, with new opportunities emerging.”
Japan (-1%), South Korea (-1%) and Australia (-3%) all witnessed softer declines in total beverage alcohol volumes. 
