The alcoholic beverages market in Europe showed substantial fluctuations in volume from 2014 to 2023. The market volume peaked at 68.88 million metric tons in 2014 but saw a declining trend, dropping significantly to 53.67 million metric tons in 2020, likely due to the impact of the COVID-19 pandemic. Post-pandemic recovery is evident with a rise to 64.15 million metric tons in 2022. However, a slight decrease was observed again in 2023 with a volume of 63.89 million metric tons, constituting a year-on-year variation of -0.39% and a CAGR of -0.47% over the past five years.
Future trends to watch for:
- Continued slight decline forecasted, with market volume expected to reach 62.39 million metric tons by 2028, reflecting a 5-year forecasted CAGR of -0.32%.
- An ongoing minor reduction trend indicates a maturing market or changing consumer preferences.