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SINGAPORE – According to global market research company Euromonitor International’s health and beauty survey 2020, only 6% of millennials in Asia Pacific self-qualify as daily drinkers, against 14% for baby boomers.
The new webinar ‘Changing Alcoholic Drinks Trends in APAC’ shows that 63% of millennials drink less to avoid long-term health risks and feel healthier, leading them to prefer drinking once a month, every few months or less.
“During lockdown, many consumers shifted their shopping patterns to purchase healthier drinks, even within alcoholic drinks,” says 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 adds.
Asian leading drink players spotted the movement early on and introduced new products to meet millennials’ demands. Soju, a famous Korean spirit and one of the world’s best-selling spirits, is converting itself into low alcohol by volume (ABV) spirit. In 2020, the average ABV in soju was 16.9%, down about 10% compared to ten years ago.
Supported by an attractive revamped packaging, flavoured drinks have emerged rapidly, especially within the alcoholic drinks industry. The fruit flavour is one of the most used attributes, led by an increase in the volume of Ready-To-Drink (RTD) alcoholic drinks in Asia Pacific. The category experienced almost 60% growth in 2014-2019 and Euromonitor expects Asia Pacific’s RTD alcoholic drinks volume 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.
Download and watch the free webinar ‘Changing Alcoholic Drinks Trends in APAC’.
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Senior Communications Executive – Euromonitor International
Tel: +82 2 6123 0206
Euromonitor International is the world’s leading provider for global business intelligence and strategic market analysis. We have more than 40 years of experience publishing international market reports, business reference books and online databases on consumer markets.