Premiumisation and Young Population Expansion to upsurge West Europe’s Spirit Market
Posted on 23 August 2016 by KenResearch Food and Beverage,
Key Topics Covered in the Report
- Detailed profile of West Europe Spirit Market
- Value and volume analysis of West Europe’s Spirit Market
- Consumer demographics, trends and behaviours
- Historic and forecast consumption in the West Europe’s Spirit market
- Major players in the West Europe’s Spirit market
- Future Prospects of the Spirit Market in West Europe.
Ken Research announced its latest publication on, “Spirits excluding FABs & Fort Wine Consumption Volume and Growth Forecast to 2021”, offering insights on Spirits consumption in the West Europe Market. The publication includes an insightful analysis into the operating environment for the Spirits market in West Europe. The countries covered in this report includes Austria, Belgium, Denmark, Finland, France, Germany, Greece, Italy, Netherlands, Norway, Portugal, Republic of Ireland, Spain, Sweden, Switzerland and United Kingdom.
Economic Environment of West Europe
The countries of Western Europe are the "hub" of European economics. These countries’ economies are based on industry, although agriculture will always be an important part. Some examples of industry are Germany's high value cars, Switzerland's watch industry and high-tech instruments, France's high speed trains, and space products The Western European countries needed to realize that their industries were falling behind. Thus brought the European Union (EU), which is a diverse group of countries that joined together so that their economy could compete with those of the United States and Japan. .
The overall growth sentiment in Western Europe is taking a positive turn; however, a few economies, such as Italy and France, still pose a threat to the region's growth. In France, private consumption momentum, investor confidence, and competitive reforms are likely to push the country out of recession, however, high public debts and poor exports will continue to challenge the economy. Italy is likely to see improved investor confidence and new projects, although exports will be the main driver of growth. Germany is expected to see a significant improvement in its employment opportunities.
Western Europe is expected to experience positive growth in 2015. While France and Italy are likely to level out contraction and experience the first signs of growth, other major economies, such as Spain, Germany, and the United Kingdom, are anticipated to gain further growth momentum. The region's manufacturing sector is expected to perform well in 2015 when compared to the last few recessionary years. Increasing external demand due to the strong growth in the United States and Asia, accompanied by equally robust domestic demand in Spain and Germany, will fuel growth in Europe in 2015.Exports will continue to serve as the main engine of growth in Spain, Germany, and Italy. However, over-dependence on exports alone will cost a few of the major economies (for example, Germany) their immunity against the economic volatility in the region.
The Western Europe has a GDP of $18.51 trillion (at market prices) and a GNI per capita of $35,742 with a total population of 508 million. Europe in 2010 had a nominal GDP of $19.920 trillion (30.2% of the world). Europe's largest national economy is that of Germany, which ranks fourth globally in nominal GDP, and fifth in purchasing power parity (PPP) GDP, followed by the United Kingdom, ranking fifth globally in nominal GDP, followed by France, ranking sixth globally in nominal GDP, followed by Italy, which ranks seventh globally in nominal GDP, followed by Russia ranking tenth globally in nominal GDP then by Spain ranking thirteenth globally in nominal GDP.
Major Players Spirit Market in West Europe
The major spirits in West Europe include Anise Spirits, Asian Spirits, Bitters, Brandy, Fruit Brandy, Gin &Genever, Liqueurs & Specialties, Rum & Cane Spirit, Schnapps/Aquavit, Vodka, and Whiskey. The leading multinational companies in the European Spirits market are Bacardi-Martini, Moët Hennessy, Diageo, Beam Suntory, Davide Campari Milano, Pernod Ricard, Rémy Cointreau and Brown-Forman.
Spirit Market in West Europe Prospects
Western Europe is of less importance to wine producers as compared to the opportunities in Eastern Europe. In Western Europe, some company’s continue to see stagnation and fall in sales, and some countries like Germany, France and Spain are expected to see a fall in volume consumption. Global spirit market has also witnessed slow growth in past few years due to global recession
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Ankur Gupta, Head Marketing & Communications