The fermented beverages market in Australia has experienced a consistent decline in volume over the past decade. From a high of 46.0 thousand metric tons in 2014, the market volume dropped to 19.0 thousand metric tons by 2023. This represents a significant decrease and highlights the shrinking market size. Notably, the year-on-year variations depict a volatile trend, with major drops in certain years, such as a -27.27% decrease in 2018 and a -17.5% loss in 2017. Towards the end of the observed period, the decline moderates but remains evident, with 2023 displaying a -5% reduction compared to 2022.
Looking ahead, forecast data suggests the decline will continue, with the market size anticipated to reach 10.59 thousand metric tons by 2028, driven by a forecasted 5-year CAGR of -9.15% and an overall forecasted growth rate of -38.11%. Ongoing consumer shifts away from traditional fermented beverages and potential regulatory changes could further impact this trend.
Future trends to watch for include:
- The rise of alternative beverages, such as health-focused and non-alcoholic options, which may further erode traditional fermented beverage market share.
- Potential regulatory impacts, particularly regarding health claims and beverage classification.
- Technological advancements in fermentation processes that might offer new products or revive interest in fermented beverages.
