The latest data from SipSource reveals that both the spirits and wine categories faced a difficult first quarter of 2025, with volume and revenue declines accelerating across the board.
According to March-ending SipSource data and analysts, spirits volume dropped -6.3% and revenue fell -5.1% in the first quarter of 2025. Rolling 12-month figures as of the end of Q1 stand at -3.8% for volume and -3.9% for revenue.
The wine category also struggled, with volume down -9.9% and revenue slipping -10.5% in Q1. According to SipSource analysts, previously encouraging trends for lower-priced Table Wines have reversed, while premium wines over $50 are seeing growth in volume but continued softness in revenue as suppliers move through inventory backlogs.
Additionally, the data highlights a major shift in premiumization trends. After years where revenue growth outpaced volume, recent months have seen volume trends outstrip revenue in the wine category, while spirits revenue has recently rebounded ahead of volume trends — a reversal that will be critical to monitor moving forward.
Looking ahead, the SipSource Spirits Forecast projects Core Spirits rolling 12-month volume to stabilize in negative territory, ending Q2 at -3.83%.
“There’s no sugarcoating the challenges ahead, but with SipSource, businesses can prepare smarter,” say SipSource analysts. “As we move deeper into 2025, having real-time, trusted insights isn’t just an advantage — it’s a necessity.”
