Parch Spirits Co’s Post

Super interesting article as non-alcs start to take hold globally with a whopping 15% volume category growth rate! Can't wait to see how the Indian market develops.

TLDR: For the first time in 30 years US spirits saw its volume decrease (-2%) and alcohol sales declined globally by -1%. In 2023 every major #alcohol category declined, except #tequila, some American #whiskey segments and #RTDs (ready-to-drink). This is the "Age of Agave" which will add the most incremental value to the US spirits market by 2028. Meanwhile, #nonalcoholic ‘spirits’ soared by 15% in volume last year and IWSR noted that "NO-ALCOHOL IS THE ONLY CATEGORY WITH POSITIVE MOMENTUM", led by an increase in #moderating and #sobercurious drinkers in markets, including India, China, the UK, and the US. (Seems like good timing for a #nonalcholic #agave #RTD like Parch Spirits Co ❤️ 🌵 Rodolfo (Rudy) Aldana https://lnkd.in/ezKykFH9

MENTIONED AS ONE OF THE KEY COMPANY TO LOOK AT 🚀 According to a new report of Fact.MR, the global non-alcoholic spirits category is expected to grow at a compound annual growth rate (CAGR) of 9% between 2023 and 2033, with an absolute dollar potential of US$156.5 million. IWSR data revealed that the volume of non-alcoholic 'spirits' grew by 38% in the UK last year. Sober Spirits is delighted to be mentioned as one of the most recognized brands in the non-alcoholic spirits industry to look at on the market. As an international brand and our quick expansion worldwide, Sober Spirits continues to expand around the world to offer new non-alcoholic spirits to appeal to cocktail lovers (professionals or not!). 🌎 Thanks to Nicola Carruthers deputy editor at The Spirits Business for this article and for highlighting the non-alcoholic spirits market and S.N. Jha from Fact.MR for all the market research and analyses. 😊 Great to be mentioned side by side with our market colleagues : ARKAY BEVERAGES, Ritual Zero Proof, Ceder's Drinks, Strykk, Cut Above Zero Proof Spirits, Sober Spirits, and Pentire Drinks https://lnkd.in/gjgkaWd9 #noalcohol #alcoholfree #thespiritsbusiness #spirits #drinks #export #seed #nonalcocholicspirits #unicorn #cocktails #mocktails #international #magazine #soberspirits

What’s your take on low-and-no alcohol’s future?   📈 Well, according to a global study, its skyrocketing growth is only going to continue!   Between now and 2033, the market is predicted to increase annually by 9% – and in the UK alone, the non-alcoholic ‘spirits’ market is expected to be valued at US$12.6bn in 10 years’ time…   In other words – there’s no end to the boom in sight 💥   Which is great news for brilliant brands like CROSSIP, Three Spirit and Everleaf Drinks | B Corp, who continue to innovate and expand their offerings for the growing numbers of consumers that want to cut their alcohol consumption, without compromising on taste 🍾 https://lnkd.in/eH9TrkmR   🍸 I’m curious to hear your insights… Let me know your thoughts!   #drinksindustry #drinks #alcohol #lowalcohol #alcoholfree #agnews

I’ve been in the wine and spirits industry for 15 years and I’ve never witnessed this… Alcohol sales declined for the first time in 30 years. Why? It was attributed to a “rapid softening of demand.” Let’s dive deeper. The cost of living has skyrocketed. People have taken an active interest in their health and consuming non alcoholic beverages. People’s tastes have changed in the products they choose to consume. Despite the overall downturn, there are some major positives from 2023: 🔹 Tequila, Whiskey and RTD’s remained strong 🔹 Market Realignment: The industry is seeing a realignment towards premium and niche products, with companies needing to adapt their strategies to cater to changing consumer tastes and economic conditions. 🔹 Future Projections: Alcohol sales are predicted to rise by an annual growth rate of 1% from 2023 to 2028, driven by both volume and value increases, particularly in developing markets. 🤔 Let's discuss how brands can navigate this changing landscape. What strategies do you think will be most effective in leveraging these trends? #wineandspirits #beverageindustry #beverage #beveragesales

One of the trends we've seen coming down the line in recent years is the seemingly unstoppable growth of non-alcoholic beverage options as people focus more on wellbeing and healthier options. Some outstanding figures in this article about the growth of non-alcoholic spirits in particular. We've certainly seen this reflected in the conversations we're having with our wholesale clients and we don't see any sign of it stopping, with more and more people opting for alcohol-free options but wanting something better than the old soft drink selection. Have you tried non-alcoholic spirits? What are your thoughts? And if you're in wholesale, are you seeing this upward trend too? https://lnkd.in/eGgbMZ-Z

The global vodka market size reached US$ 44.54 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 65.44 Billion by 2028, exhibiting a growth rate (CAGR) of 6.52% during 2023-2028. The increasing consumption of alcoholic beverages, the introduction of innovative product variants such as fruit-based vodka, and the extensive utilization of online distribution channels to purchase vodka represent some of the key factors driving the market. Explore full report with TOC:- https://lnkd.in/dWtvyhCW

Exciting #trends are emerging in the #beverage industry, with a noticeable shift towards low and no-alcohol alternatives. This change is driven by a multitude of factors driven by younger cohorts. Many brands are innovating and expanding their offerings to cater to this growing demand. Check out the article below where our very own Sam Agarwal is highlighting insights from our Alcohol Consumption Tracker. #LowAlcohol #NoAlcohol #ModerationTrends

Scotch Whisky Market size to increase by USD 15.11 billion between 2023 to 2028 The difference between whisky and other spirits is that it takes considerably longer to produce. If you are looking for an 18 year old whisky , you need to wait 18 years for it to mature in a cask. In short, during the 1980’s whilst young drinkers in the UK were not becoming enthusiastic towards single malt scotch, Scotland also did not anticipate any demand coming from Asia in future, and therefore closed three quarters of all production, meaning there is now a huge supply/demand imbalance as the Asian and global consumption increases.

Indian Whisky is ALREADY competing with Scotch Whisky. Diageo makes a lot of Scotch Whisky. it also makes a lot of Indian Whisky. It's why we need a collective approach, not trusting the future of Scotch Whisky to just any one conglomerate. #ScotchWhiskyTruths