© Le Coq Sportif
How French alcoholic beverages are shaping global B2B trends
June 22th 2024
The alcoholic beverage industry is continually evolving, driven by global trends and changing consumer preferences. For professional buyers interested in sourcing French products, this landscape offers a unique opportunity to diversify and enhance their product offerings. Here’s an overview of the current forecasts and trends, highlighting the strengths and opportunities that French products bring to the international market.
French products are renowned for their quality, innovation, and artisanal craftsmanship. For professional buyers seeking differentiated products, this reputation offers a guarantee of trust and excellence. By incorporating French products into their portfolios, businesses can meet the growing demand for high-quality items and position themselves in high-value market segments.
Global Growth and Emerging Trends in the Market
According to IWSR, a leading market research authority in the alcoholic beverage sector, the global market is on a cautious path to growth. After a slight 1% decline in volume in 2023, the market saw a 2% increase in value. The compound annual growth rate (CAGR) is projected at +1% in both volume and value from 2023 to 2028. The strongest performances are expected in the United States, India, and China, driven by a strong demand for quality products and innovation.
Contrasting Fortunes for Spirits and Wine
Spirits are outperforming wine, which experienced a 4% drop in volume in 2023 and is expected to continue declining at a CAGR of -1% through 2028. However, the value segment remains stable, offering a bright spot for the wine industry, especially for those focusing on niche markets. Premium rosé wines, in particular, are gaining popularity in the United States, Australia, and the United Kingdom. For professional buyers, this trend represents an opportunity to differentiate their product offerings with high-quality French wines, known for their exceptional craftsmanship.
The Rise of Ready-to-Drink (RTD) Beverages
Ready-to-drink (RTD) beverages are enjoying a significant surge, with an estimated CAGR of +3% in both volume and value from 2023 to 2028. This trend reflects a growing consumer demand for convenience and variety—areas where French products can excel. French companies have the opportunity to capitalize on this trend by offering innovative, high-quality RTD beverages with unique and authentic flavors.
The global market for alcoholic beverages presents a wealth of opportunities. By focusing on French products, businesses can enhance their offerings with products that embody quality, innovation, and artisanal expertise. Staying attuned to industry trends and leveraging the unique strengths of French craftsmanship can position businesses for success in the competitive global market.