The demand for distilled alcoholic beverages in Australia has fluctuated between 2014 and 2023, peaking at 78.0 thousand metric tons in 2017 and dipping to its lowest in 2015 at 50.0 thousand metric tons. Notably, the demand in 2023 stood at 62.0 thousand metric tons. Over the past five years, the compound annual growth rate (CAGR) was 1.34%, indicating a very modest upward trend overall.
Year-on-year variations have been quite volatile, with notable drops in 2015 (-20.63%) and 2018 (-25.64%), as well as significant rises in 2017 (27.87%) and 2021 (18.57%). The last two years showed stability with no growth from 2022 to 2023. Going forward, the forecasted CAGR from 2024 to 2028 is projected at -0.08%, suggesting a slight decline overall with an average annual decrease of -0.39%.
Future trends to watch include potential shifts driven by consumer preferences toward premium and craft spirits, regulatory changes impacting the industry, and broader economic factors influencing discretionary spending on alcoholic beverages.
