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NEW NORMAL

Source: www.companydebt.com/features/pub-sector-bounce-back/

and according to IWSR estimates, it will take at sales fell to double-digit estimates.
least 2024 to reach the level of 2019. Global wine consumption has been severe-
The worst impact worldwide will be in are- ly affected by Covid-19, with the downturn of
as dependent on tourism, where there will be the on-trade, damage to travel and tourism,
a particularly severe decline and recovery may and a weakened economy driving to a -9.7%
take even longer. volume and -9.5% value decline for the market
According to CompanyDebt 2020 was an in 2020.
„annus horribilis“ for the UK pub sector, with The only exceptions are sparkling wines, the
beer sales falling by 56% to their lowest levels consumption of which is less and less tied to
since the 1920s. The sector has faced some of festive moments. Consumers are increasingly
the toughest and longest-lasting restrictions switching to year-round sparkling wine, which
during the coronavirus pandemic and they grew by + 1.4% in volume and + 6.6% in pri-
look set to continue well into the spring. ces. The share of sparkling wines is expected
There is a warning about the long-term glo- to grow further by 2024, but it still cannot
bal decline in wine consumption, which conti- replace the decline in the consumption of still
nued in 2019 (-1.1% of volume, although the wines.
value was slightly higher + 0.6%), in the key OIV CEO Pau Roca estimates it even harder:
consumer area of „traditional“ Europe, wine the closure of restaurants and hotels could
volume slowed down - 1.6% and in the USA, lead to a 35% drop in the volume of wine sold
wine consumption fell last year for the first and a 50% drop in the value of sales, so it also
time in 25 years. In the first half of 2020, wine assumes a general unit drop in wine prices.
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