NEWS
EUROMONITOR: ONLY 6% MILLENNIALS IN ASIAPAC ARE KEEN DRINKERS
By Siulan Law Mathews DipWSET
17-9-2020
Credit: Efren Barahona/Unsplah
Only 6% of millennials in Asia Pacific described themselves as daily drinkers, against 14% for baby boomers, according to the results of health and beauty survey 2020 conducted by global market research company Euromonitor International.
The company also said that 63% of Asia Pacific millennials drink less to avoid long-term health risks or to feel healthier, leading millennials to prefer drinking once a month or less.
“During lockdown, many consumers shifted their shopping patterns to purchase healthier drinks, even within alcoholic drinks,” said Oryoon Lee, research analyst at Euromonitor International.
“Asian millennials pioneered this healthy drinking trend before 2020, and it is now positioned as one of the leading trends post-pandemic,” she added.
Announced in a webinar called "Changing Alcoholic Drinks Trends in APAC”, the report also highlighted the emergence of the low alcohol drinks market in the region.
Euromonitor said leading Asian drink producers spotted the shift early on and introduced new products to meet millennials’ demands.
Take for example Soju, a popular Korean spirit and one of the world’s best-selling spirits, is converting itself into a lower alcohol spirit. In 2020, Euromonitor said, the average ABV in soju is 16.9%, down about 10% compared to ten years ago.
Supported by an attractive revamped packaging, Euromonitor said flavoured drinks like fruit flavoured beers have emerged rapidly.
It said fruit flavour is one of the most used attributes, led by an increase in the volume of Ready-To-Drink (RTD) category like Hard Seltzer in Asia Pacific.
Euromonitor said the category experienced almost 60% growth between 2014 and 2019, the company expects Asia Pacific’s RTD sales to reach 2.2 billion litres by 2024, up 34% from 2019.
“Due to longer period spent at home and more focus on personal time, a healthy, casual and relaxed drinking culture is the new ‘cool’ in Asia. At home, drinks such as lower ABV spirits or fruit flavoured beers represent a new potential for beverage players looking for promising growth momentum in the future,” concludes Lee.
(the writer can be contacted at: info@thewinechronicle.com)
ALL RIGHTS RESERVED
**IF YOU THINK THE WINE CHRONICLE IS WORTH SUPPORTING, PLEASE MAKE A DONATION TO HELP US IMPROVE AND CONTINUE OUR WORK**
TRENDING│ FOCUS│ MISSION│ ABOUT US│ CONTACT
| 