The analysis of the spirits production sector in Germany reveals a fluctuating trend from 2013 to 2023, with production in 2023 reaching 2.55 Billion Euros. Over the past two years, the production value showed a modest year-on-year increase of 2.31% in 2023. The Compound Annual Growth Rate (CAGR) over the last five years was -0.75%, indicating a slight overall decline.
From 2013 to 2023, the sector experienced significant variabilities, with notable declines in 2015 and 2020. The mid-decade showed periods of minor recovery before encountering another dip around 2020, likely influenced by external factors, including the COVID-19 pandemic.
Looking ahead, the forecast data from 2024 to 2028 suggests a continued decline. By 2028, the spirits production sector is projected to reduce by 4.16% from its 2024 level, with a forecasted five-year CAGR of -0.85%.
Future trends to watch for:
- Changes in consumer preferences towards lower-alcohol or non-alcoholic beverages.
- Impact of regulatory changes and taxation on the spirits market.
- Influence of sustainability practices and eco-friendly production methods.
- Economic factors and disposable income affecting consumption patterns.
- Evolving competitive landscape with the entry of craft and premium spirits.