The UK drinks industry is on course for 12% growth over the period between 2017-2022, according to a new report from Diageo GB.
Based on historic and predictive IWSR data, the 2017 combined figure for on and off trade of £41.5bn is expected to reach £46.7bn by 2022.
The Diageo Drinks Report 2019 also identified the four key trends that will aid this growth in the drinks industry: balanced lifestyle choices leading to lower and no alcohol drinks; the capturing of moments in social situations, the exploration of new tastes and ideas; and an increase in premium items because of celebratory occasions.
“With consumers’ choice increasingly less determinable, this presents both opportunities and challenges to the marketplace,” says Dayalan Nayager, managing director of Diageo GB, Ireland & France. “It becomes even more important to understand the demands of the consumer, in the occasions they are partaking.”