Yahoo Finance The Country that Drinks that Most Alcohol per Capita in 2024
In this article, we are going to discuss the country that drinks the most alcohol per capita in 2024. If you're also curious about which other countries are the heaviest drinkers, here is our full list of the 20 Countries with the Highest Alcohol Consumption per Capita in 2024.
The Global Alcohol Industry:
In 2019, the global alcohol consumption, measured in liters of pure alcohol per person of 15 years of age or older, was 5.5 liters, which is a 4.7% relative decrease from 5.7 liters in 2010. As we mentioned in our article – 20 Most Consumed Alcohols in the World – the global alcoholic beverages market size was valued at $1.62 trillion in 2021, and is projected to reach $2 trillion by 2031, with a CAGR of 2.2% during the forecast period.
The market is likely to be driven by the increasing global young-adult demographic, coupled with high disposable income and consumer demand for premium/super-premium products. Globally, beer drives the market for alcoholic beverages. Regionally, North America and Asia-Pacific are expected to dominate the market during the forecast period.
Economic Cost of Excessive Alcohol Consumption:
A recent worldwide overview showed that the economic costs of harm due to alcohol amounted to $1,306 per adult or 2.6% of the global GDP. About 38.8% of these are incurred as direct costs, while approximately 61.2% are due to losses in productivity.
As we stated in our article – 20 Countries with Most Alcohol Deaths – excessive use of alcohol costs the U.S. economy almost $250 billion per year. The federal government picks up roughly $100 billion of the tab, largely through Medicare and Medicaid payments.
Corporate Social Responsibility:
Anheuser-Busch InBev SA/NV (NYSE:BUD), the Largest Beer Company in the World, launched its Global Smart Drinking Goals initiative in order to make a tangible contribution to the reduction of harmful use of alcohol globally. As part of the initiative, AB InBev has committed to investing at least $1 billion across its markets in dedicated social marketing campaigns and programs to influence social norms and individual behaviors to reduce the harmful use of alcohol.
Another goal is to ensure that low- or no-alcohol beer products make up at least 20% of the global beer volume of the industry giant by 2025. In fact, Anheuser-Busch InBev Sa/NV (NYSE:BUD) has also recently scored a sponsorship for the upcoming Olympic Games, making it the first beer company ever to sponsor the grand event. The IOC specifically highlighted Corona Cero – the non-alcoholic version of the global best-seller Corona – as the beer of choice for the partnership, which will stretch from the upcoming Paris 2024 Summer Games to the Los Angeles 2028 Summer Games.
The brewing behemoth had a global production volume of 585 million hectoliters in 2023 while boasting a revenue of $59.38 billion, an increase of over 2.7% from the previous year. This revenue increase was despite the company facing some headwinds in the American market last year after the recent controversy regarding its best-selling brand Bud Light, which resulted in the iconic brand losing its crown as the Top-Selling Beer in America after nearly two decades.
AB InBev’s total production volume decreased by 0.6% during the first quarter of 2024, as growth in the majority of its markets was offset by its volume performance in Argentina, China, and especially the U.S. However, revenue per hectoliter still increased by 3.3% as a result of revenue management initiatives and premiumization. Underlying EPS also increased by 16% compared to last year, reaching $0.75.
Despite the slight decrease in overall volume, the company’s portfolio seems to be gaining momentum thanks to the continued strength of its core mega brands. The sales of Busch Light have stayed strong, Stella Artois has witnessed market share gains after the recent partnership with David Beckham, Michelob Ultra is expected to profit from the increasing popularity in the U.S., and even Bud Light, despite the recent setback, has remained among the top four or five brands in most U.S. markets by sales.
Among the 36 hedge funds in the IM database that had invested in BUD in Q1 2024, the largest stake of 9.29 million shares was held by Fisher Asset Management, valued at over $564.8 million.
Anheuser-Busch InBev Sa/NV (NYSE:BUD) is included among the 10 Best Alcohol Stocks to Buy Now.
Pixabay/Public Domain
Methodology:
To collect information for this article, we have referred to The Global Health Observatory of the World Health Organization, looking for Countries that Consume the Most Alcohol per Capita. The following countries have been ranked by their per capita consumption of pure alcohol for people aged 15 and over in 2019 (the latest year for which the WHO data is available). Since a country’s drinking habits can generally take a long time to change, the relative ordering of our list should still be valid in 2024.
One thing to keep in mind is that just because the people in these countries generally consume higher levels of alcohol, it doesn’t necessarily mean that they’re drunkards. Alcohol is simply an essential part of many cultures around the world and alcoholic beverages play a significant role in important events and celebrations since they can be associated with many festivals and rituals.
1. Romania
Alcohol Consumption per Capita: 16.99 liters
Men in Romania are the heaviest drinkers in the world, with a per capita consumption of 27.3 liters of pure alcohol in 2019, or an average of 8.2 drinks per day. The most consumed alcoholic beverage in Romania is beer, preferred by one-third of the consumers. However, the market for spirited drinks has exploded and reached around $800 million in the Eastern European country.
Dan Prelipceanu, a psychiatrist and previously the honorary president of the Alliance for the Fight Against Alcoholism and Drug Addiction, stated:
“This is a big, unresolved problem in Romania, and also in Europe. There is a huge lack of interest, and has been for a long time, on the side of society and the authorities towards this alcohol problem, which is extremely significant in terms of social costs. We are talking of tens of billions of Euros that go towards alcohol consumption related expenses. We are talking about direct costs, in terms of medical complications, in all areas of medicine, but also indirect costs such as premature deaths, retirements, years lost without a point, or traumas incurred by minors in alcoholic families, or domestic violence.”
Want to learn more about which countries are topping the drinking charts, check out our complete list of the 20 Countries with the Highest Alcohol Consumption per Capita in 2024.
At Insider Monkey, we delve into a variety of topics, however, our expertise lies in identifying the top-performing stocks. Currently, Artificial Intelligence (AI) technology stands out as one of the most promising fields. If you are looking for an AI stock that is more promising than NVDA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: Analyst Sees a New $25 Billion “Opportunity” for NVIDIA and Jim Cramer is Recommending These 10 Stocks in June.
Disclosure: None. This article is originally published on Insider Monkey.
