Against a backdrop of macroeconomic pressures, prompting financing scrambles and the occasional bankruptcy, the craft spirits category is catching the attention of the all-important younger LDA consumer.
After years of dynamic growth in North America, some commentators believe tequila’s fortunes are turning. Producers, however, are unconcerned.
Creative whisk(e)y distilleries have sprung up around the world, going toe-to-toe with long-established players. The challenges they face are plenty – but even in a bleak financial climate, optimism runs deep.
Ask anyone in the cognac industry about the category’s two largest export markets and you’ll sense a cautious optimism. At the same time, green shoots of growth are on show in several emerging African and Asian countries.
Tequila may be hot on its heels, but vodka still accounts for 30% of all spirits volumes in the US – while also eyeing growth in Latin America.
Vast distillery builds, fundamental structural shifts and a changing consumer audience: American whiskey brand owners are having to adapt at breakneck speed.
The gin category is overrun with newcomers and flavour extensions, but premiumising – and a pretty face – can still catch the eye of global travel retail shoppers.
With brand owners optimistic that a drop-off in exports to the US is nothing more than a ‘short-term blip’, the attention of the Irish whiskey category has turned to shoring up new markets.
Long seen as a party drink, this versatile and diverse segment has faced an uphill battle to be taken seriously. That’s all changing as brand owners work to premiumise.
A confluence of beneficial trends and behavioural shifts has created ideal conditions for aperitifs to thrive.
Mezcal may be hogging the spotlight right now, but more niche agave-based subcategories – such as sotol, raicilla and bacanora – have also set their sights on riding tequila’s coattails.
Brand owners working with bartenders for promotion and NPD is nothing new, but in liqueurs, where connecting with cocktail culture is key to growth, brands are shouting about their partnerships like never before.
After a period of intense growth and rampant innovation, the prospects for RTDs are now much more modest. But players are convinced the category’s impressive trajectory is set to continue long into the future.
With the third quarter of 2024 in the rearview mirror this month, Global Drinks Intel considers which listed alcohol brand owners in its results coverage led the pack in the three months to the end of September and which companies have ground to make up before the year is out.
