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Drinks Market Review 2009
Key Note Publications Ltd, Sep 2009, Pages: 170
The UK drinks market is forecast to be worth £58.3bn in 2009, accounting for approximately 6% of total consumer spending. Alcohol is forecast to account for just under three-quarters of the market in 2009, with soft drinks worth £12.98bn and hot drinks £3.4bn.
Beer is the leading alcoholic drink although its share of the total spent on alcohol is down from 50% to 42.9% in this decade. Wine is still the fastest growing major alcohol category. A consumer survey for UK Drinks found that adults named white, red and rosé wines among their five `favourite' alcoholic drinks, along with lager and vodka.
Spirits (and liqueurs) are stable in value while cider has been the fast riser of the decade, doubling from £1.2bn to £2.4bn. This is principally down to the fashion for `over-ice' cider, spearheaded by the imported Irish brand, Magners. The rise of Magners typifies the fashion-influenced aspect of the UK market where young drinkers are adventurous, although many other drinks sectors are noted for their conservative nature (e.g. some spirits, such as Cognac, or fortified wines, such as sherry and port).
Another unusual aspect of the over-ice boom is that it was started by a new brand, whereas most drinks markets feature one or two extremely dominant brands. Some of these — Smirnoff in vodka, Coca-Cola in carbonated soft drinks, Red Bull in energy drinks, Nescafé in instant coffee — are powerful enough to influence the direction of the whole market sector.
Evidence of the power of these brands comes from consumer research in 2009, which found that 55% of adults drink Coca-Cola regularly, 55% drink Robinsons squash, 51% drink Nescafé and 45% drink Tetley tea.
The UK's largest indigenous drinks companies include Diageo, the world leader in spirits (also a major in beer, with Guinness, and in wines, with names such as Blossom Hill) and Unilever, the world's largest tea company. However, globalization is the trend and foreign multinationals are omni-present in most drinks markets including coffee (Nestlé, Starbucks), beer (Heineken and Carlsberg) and even Scotch whisky production (Pernod Ricard of France).
This report is forecasting very slow growth for drinks as a whole in the 5 years to 2014. In addition to the slow climb out of recession, problems will include possible restrictions on alcohol marketing, downward pricing pressures, the healthy living movement and, generally, saturation in many drinks markets after years of growth and experimentation. Despite these negative concerns, the diversity of the drinks market remains its strength, encouraging innovation and new entrants.
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