Data from IWSR Drinks Market Analysis shows that no-and-low-alcohol consumption in 10 leading markets grew by 5% in volume in 2023.
The sector is now worth US$13 billion and is forecast to grow by a CAGR of 6% between 2023 and 2027.
Beam Suntory has announced it has entered into an exclusive agreement related to the proposed sale of the Courvoisier cognac brand and related assets to Campari Group.
In 2022, fine wine established itself as a powerful alternative amidst times of economic turmoil, a pillar of stability in an otherwise volatile equities market.
Fast-forward 12 months later and this is no longer the case...
Durban -- Drinking illegally manufactured alcohol will likely result in your suffering blindness or joining thousands who have died around the world because of poisonous ingredients used to make fake alcohol.
Hunt said in his opening comments of the Statement that the Treasury was about 'reducing taxes' and not 'big government', and putting downward pressure on inflation -- with predictions it will fall to 2.8% by the end of next year.
As a result, he has decided to freeze all alcohol duty until the Budget next year.
Diageo has issued an unexpected trading statement to warn that this year's revenue and profit will be significantly lower than the group previously expected – a blow which has had a serious knock-on effect for the European drinks sector.
WASHINGTON -- Today, the Beer Institute published an unofficial estimate of domestic tax paid shipments by beer brewers for September 2023:
The September 2023 estimate is 13,200,000 barrels, a decrease of 7.4% compared to September 2022 removals of 14,256,962.In today’s teeming marketplace, shelf space is tight and open tap lines are rare, forcing craft breweries to fight harder for pieces of the fiscal pie. In 2022, overall beer volume sales declined three percent, according to the Brewers Association, and craft beer sales slid two percent in the first half of 2023.
IWSR reporting reveals the Australian and global wine industry faces the ongoing challenges of declining volumes but, on the bright side, continues to experience premiumization, growth in e-commerce, and evolving wine consumer preferences. Adapting to these trends and economic uncertainties will be crucial for wine producers and retailers in 2024 and beyond.
People in the U.S. are drinking less alcohol than they used to, but when they do indulge, they're more likely than ever to opt for a beverage originating from Mexico.