OTCPK:SIPC - Post by User
Post by
AnnaBlakeon May 31, 2013 9:43am
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Post# 21466122
SIPC - Growing Global Spirits Industry!
SIPC - Growing Global Spirits Industry! The global market for spirits enjoyed a period of exceptional growth leading up to the recession of 2009. Growth was driven by rising per capita spirit consumption in developing countries and increasing demand for premium brands.
The industry was hit hard by the economic downturn during 2009, with recession in many key markets constraining demand, and a collapse in air travel weighing on business and duty-free sales. Growth picked up in 2010 and 2011, helped by strong sales of Scotch whisky and cognac in emerging markets.
Overall, industry performance remained moderate, as developed markets contained demand. India and China are expected to be the two fastest-growing markets for spirits globally and India will overtake Russia to become the second largest spirits market globally in 2013. The US is also predicted to be the third fastest-growing market worldwide by 2015.