Alcoholic Drinks - Sri Lanka | Statista Market Forecast

Revenue, at home (e.g., revenue generated in supermarkets and convenience stores) in the Alcoholic Drinks market amounts to US$2.8bn in 2024.
Revenue, out-of-home (e.g., revenue generated in restaurants and bars) amounts to US$257.9m in 2024.
Revenue, combined amounts to US$3.0bn in 2024.
The revenue, at home is expected to grow annually by 9.07% (CAGR 2024-2029).
In global comparison, most revenue, at home is generated China (US$208bn in 2024).
In relation to total population figures, the average revenue per capita, at home of US$126.30 are generated in 2024.
In the Alcoholic Drinks market, volume, at home is expected to amount to 227.1m L by 2024.
Volume, out-of-home is expected to amount to 21.7m L in 2024.
Volume, combined is expected to amount to 248.8m L in 2024.
The Alcoholic Drinks market is expected to show a volume growth, at home of -1.1% in 2025.0.
The average volume per person, at home in the Alcoholic Drinks market is expected to amount to 10.35L in 2024.

Definition:

The Alcoholic Drinks market includes all alcoholic beverages that are produced by fermentation or distillation.

Structure:

The Alcoholic Drinks market is divided into 5 markets:

The Beer market encompasses fermented beverages based on malt. The Beer market is further divided into the markets Alcoholic Beer and Non-Alcoholic Beer.
The Spirits market encompasses alcoholic beverages that are produced through the distillation of wine, fermented fruits, or grains. It contains the Whisky, Vodka, Rum, Gin, Brandy, Soju, Tequila, and Liqueurs & Other Spirits markets.
The Wine market encompasses all fermented juices made from grapes. The Wine market is further divided into Still Wine (Red Wine, White Wine, and Rosé Wine), Sparkling Wine, and Fortified Wine.
The Cider, Perry & Rice Wine market encompass all wines made from fruits other than grapes, grains, or other plants.
The Hard Seltzer market encompasses alcoholic beverages made with carbonated water, alcohol, and often fruit flavoring.

Additional information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per liter, as well as sales channels. Per capita figures refer to a country’s or region’s whole population.

At-home market data covers retail sales via super- and hypermarkets, eCommerce, convenience stores, and similar sales channels. Out-of-home market data includes all sales in hotels and restaurants, sales by catering companies, as well as sales in cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. All prices are valued at retail selling prices, including all sales and consumption taxes.

Key players include Anheuser-Busch InBev (e.g., Corona, Bud Light, and Michelob), Diageo (e.g., Johnnie Walker, Guinness, and Tanqueray), Heineken, and Molson Coors.

Alcoholic & Non-Alcoholic Beer
Wine
Spirits
Cider, Perry and Rice Wines
Hard Seltzer

Non-Alcoholic Beverages derived from Wine or Spirits

The Alcoholic Drinks market in Sri Lanka has been experiencing significant growth in recent years.

Customer preferences: Sri Lankan consumers have shown a growing interest in alcoholic drinks, particularly in the urban areas. The younger population, in particular, has been driving this trend, with a preference for trendy and innovative beverages. There is also a growing demand for premium and imported alcoholic drinks, as consumers are becoming more willing to spend on higher quality products.

Trends in the market: One of the key trends in the Sri Lankan alcoholic drinks market is the increasing popularity of craft beers and spirits. Consumers are seeking unique and flavorful options, and craft beverages provide a niche and artisanal alternative to mainstream brands. This trend is also influenced by the growing craft beer and spirits movement worldwide. Another trend in the market is the rise of low and no-alcohol options. Health-conscious consumers are looking for alternatives that allow them to enjoy a social drink without the negative effects of alcohol. This trend is also driven by the increasing awareness of the harmful effects of excessive alcohol consumption.

Local special circumstances: Sri Lanka has a unique cultural and religious background that influences the alcoholic drinks market. The majority of the population follows Buddhism, which promotes abstinence from alcohol. However, there is also a significant minority of Muslims who do not consume alcohol due to religious beliefs. These cultural and religious factors shape the market and create a demand for non-alcoholic options.

Underlying macroeconomic factors: The growing economy and rising disposable incomes in Sri Lanka have contributed to the development of the alcoholic drinks market. As more people have the means to spend on luxury items, the demand for premium alcoholic beverages has increased. Additionally, the tourism industry in Sri Lanka has been booming in recent years, attracting a large number of international visitors who are interested in experiencing the local food and drink culture. This has further fueled the growth of the alcoholic drinks market. In conclusion, the Alcoholic Drinks market in Sri Lanka is experiencing growth due to changing customer preferences, such as a desire for craft beverages and low/no-alcohol options. Local special circumstances, such as cultural and religious factors, also play a role in shaping the market. The underlying macroeconomic factors, including a growing economy and rising disposable incomes, contribute to the development of the market.

Data coverage:
The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

Modeling approach:
Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on alcoholic beverages, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

The alcoholic beverage market is recovering after several years of downturn. Larger forces like the COVID-19 pandemic, the Russian invasion of Ukraine and the ensuing inflation have either been resolved or accepted as part of the current market environment. Regional conditions vary as consumers in some areas of the world are changing their alcohol preferences while other regions are continuing to feel the effects of less discretionary spending from consumers.