Forecast: Domestic Tourism Consumption of Alcoholic Beverages and Other Beverages in Australia

The domestic tourism consumption of alcoholic beverages and other beverages in Australia experienced diverse trends over the past decade. From 2013 to 2019, there was a consistent upward trajectory peaking at AUD 4.83 billion in 2019. In 2020, consumption dramatically dropped by 42.66% due to the COVID-19 pandemic. However, recovery was swift with a 64.39% increase in 2021, culminating in a value of AUD 5.28 billion by 2023. Over the last two years, consumption growth stabilized, with year-on-year increases of 13.57% in 2022 and 2.11% in 2023. The CAGR for the past five years stands at 2.3%.

Looking forward, forecasted data from 2024 to 2028 project a gradual growth rate, with an average annual increase of 1.64% (CAGR) and cumulative growth of 8.5% by 2028.

Future trends to watch for:

• Post-Pandemic Recovery: Continued recovery from the COVID-19 pandemic and potential shifts in tourism dynamics.
• Consumer Preferences: Evolution in beverage preferences driven by health consciousness, particularly impacts on non-alcoholic options.
• Sustainability: Increasing demand for sustainable and locally-sourced beverages.
• Market Competition: Emerging competitors and innovative product offerings influencing market dynamics.