The spirits market in Australia will record a compound annual growth rate (CAGR) of 7.24% from 2011-16, with a year-on-year (Y-O-Y) growth of over 7% through the years, forecasts research by Canadean – Wine & Spirits.
According to the report "The Future of the Spirits Market in Australia, to 2016", the CAGR between 2006-11, has been 4.96%, much lower than what is being forecast for the period 2011-16.
All the categories in the market, including Gin & Genever, Liqueurs & Cocktails, Rum & Cane Spirits, Tequila & Mezcal, Vodka and Whiskey will post a CAGR of above 7%, except Brandy and Specialty Spirits, which will record 6.61% and 6.79% respectively.
Tequila & Mezcal will have the highest CAGR of 7.5%, followed by Vodka at 7.41%.
The Y-O-Y consumption, which grew by 2.3%, 5.7% and 7.1% from 2007 to 2009 respectively, fell steeply in 2010 to 1.5% before bouncing to 8.4% in 2011.
The growth rate is estimated to be 7.8% and 7.5% in 2012 and 2013 and be stable at 7% in the next three years thereafter.
The off-premise spirits consumption, which posted a CAGR of 4.91% during 2006-11, will record 7.24% from 2011-16; the 2006-11 and 2011-16 CAGR for on-premise consumption are 5.05% and 7.26% respectively.
