Why cooling alcohol categories have failed to quell the heat in closures – Market Intel

The fortunes of the fiercely competitive closure sector are closely aligned with those of the beer, spirits and wine industries it serves. Over the past 18 months, the market conditions for beverage alcohol have been tough. Last year, according to the International Organisation of Vine & Wine, global wine production slumped 10% to 237.3m hectolitres, the lowest level since 1961, mostly because of extreme weather conditions.Spirits, meanwhile. escaped 2023 in better shape, although global volumes were still down 1% versus the previous year, according to data from IWSR, as beer posted a si