The global population appears to be losing its taste for alcohol, with sales of alcoholic drinks falling worldwide in 2016.
The global market for all alcoholic drinks fell by 1.3 percent in 2016, according to the latest figures from London-based industry group International Wine and Spirits Research. The overall contraction in 2016 is much larger than the 0.3 percent average figure usually recorded.
Wine sales remained around the same level, down 0.1 percent in 2016, with spirits consumption increasing by 0.3 percent. However, the resurgence of gin shows no sign of slowing, with gin sales up by 3.7 percent across the world.
Beer sales fell 1.8 per cent, a larger jump than expected after declining on average 0.6 percent over the past five years. The weakness was driven by a decline in sales in China, the world’s biggest beer market by volumes.
According to the IMF, economic growth usually correlates with increased alcohol consumption in several major economies. During 2016, China, Russia and Brazil were all facing either a slowdown or a recession.