Forecast: Alcoholic Beverages Market Size Volume in Western Europe

The alcoholic beverages market in Western Europe experienced fluctuations in volume from 2014 to 2023, with the value standing at 20.18 million metric tons in 2023. A notable dip occurred in 2020, with a sharp 17.05% year-on-year decline likely due to the COVID-19 pandemic. Recovery followed, peaking in 2022 with a 5.22% rise before stabilizing in 2023 with a slight drop of 0.05%. The overall compound annual growth rate (CAGR) for 2019 to 2023 was -0.34%, indicating a shrinking market.

Looking forward, the forecast suggests additional slight declines, with a projected 5-year CAGR of -0.03% through 2028. Key future trends to monitor include shifts in consumer preferences towards low-alcohol or non-alcoholic beverages, potential regulatory changes affecting the industry, and the impact of economic variables such as disposable income and purchasing power.