Alcoholic Beverages Market Making Considerable Advances with New Innovations
Alcoholic beverages have been used by all cultures across the world. Today, they are widely available and the most famous brands are easily accessible in many parts of the world. Some of the common alcoholic beverages include whiskey, rum, beer, wine, vodka, gin, brandy tequila, and champagne. People drink alcoholic beverages to relieve stress, to escape depression, or to celebrate and have fun. Some even consider drinking as a part of their lives. Research says that moderate alcohol consumption may provide some health benefits such as reducing the risk of developing cardiovascular diseases, type 2 diabetes, and high blood pressure.
The alcoholic beverages industry has witnessed an impressive growth in the recent years. According to a report published by Allied Market Research, the global alcoholic beverages market was valued at $1,344 billion in 2015 and is likely to garner $1,594 billion by 2022, registering a CAGR of 2.1% from 2016 to 2022. The growth is driven by the growing young and adult population, high disposable income, and the growing demand for premium/super premium products. On the other hand, the high cost of premium/super premium products, and escalation of non-alcoholic beverages market due to health concerns are likely to impede the growth of the market in the future.
The most prominent growth strategy adopted by the alcohol industry is mergers and acquisitions (M&A), which has accelerated in the recent years. Another strategy adopted by the industry is the product launch. The leading players in the market increasingly focus on launching and selling their products to fast-growing developing countries.
In August 2017, Breakthru Beverage Group, LLC, a leading distributor of wine, spirits and beer plans merged with Allied Beverage Group, New Jersey’s leading distributor of alcoholic beverages. In June 2017, Carlsberg Hong Kong Limited and Brooklyn Brewery collaborated to launch craft beer brand HK YAU in Hong Kong. The two companies also plan to launch a new brewery in Lithuania. In the same month and year, Marie Brizard Wine & Spirits, a French wine and spirits producer and distributor launched two ranges of frozen pouch drinks - one with fruit-based wines and another is a combination of cocktail mixes. In April 2017, several innovative products were launched at the WSWA 2017.
Breakthru Beverage Group, LLC Merges with Allied Beverage Group
Breakthru Beverage Group, LLC, recently merged with Allied Beverage Group, a leading distributor of alcoholic beverages in New Jersey. The combined firm will operate under the name of Allied Beverage Group and continue to be New Jersey’s leading distributor of alcoholic beverages. According to Greg Baird, president and CEO of Breakthru, the merger allows them to provide their customers and suppliers access to bigger resources, tools and capabilities. The combined company works together to implement a smooth workflow with minimal disruption for suppliers, customers, and associates.
Carlsberg and Brooklyn Brewery Launch New Craft Beer Brand
Carlsberg Hong Kong Limited partnered with Brooklyn Brewery, renowned New York beer brewers to launch a craft beer brand called HK YAU in Hong Kong. The HK YAU offers a series of flavorful beers namely HK YAU Times Square (Lager), HK YAU New Kong (Wheat Beer), and HK YAU Underground (Pale ale). The HK YAU Times Square is a vibrant and cold-fermented lager based on classical German roots. HK YAU NEW KONG is a light and unfiltered beer made from Chinese wheat and barley malt. HK YAU Underground is dry hopped with American and New Zealand hop varieties and is perfect when paired with Chinese cuisine.
Carlsberg and Brooklyn Brewery to Launch New Brewery
With the aim to create new flavorful beers, Carlsberg and Brooklyn Brewery plan to launch a new brewery in Klaipėda, Lithuania. The brewery will be installed at the site of Carlsberg’s Švyturys Brewery. The new range is to be launched at the end of 2017. Rolandas Viršilas, CEO of Švyturys-Utenos Alus, Carlsberg, said that with changing habits of consumers, the beer-drinking culture and the knowledge about beer are rising. He also said that the demand for diverse flavors and versatile beers is growing. He believes that the partnership with Brooklyn Brewery will allow them to satisfy this growing demand by offering new and experimental beers.
Marie Brizard Wine & Spirits Launches Frozen Pouch Drinks
With the aim to strengthen and grow its position as the leading fruit-based wine drink maker in France, Marie Brizard Wine & Spirits launched two ranges of frozen pouch drinks. One of them is fruit-based wine and the other is a combination of cocktail mixes. The fruit-based wine range is available in three varieties namely Rosé Grapefruit, White Peach, and Elderflower Lime and Mint. The cocktail range has four mixes such as Marie Brizard - Manza Nita (apple), Marie Brizard - Mojito (rum, lime, mint), Sobieski - Cosmopolitan (vodka, lime, triple sec, cranberries), and William Peel - Peel Cola (whiskey, cola). Both the types have a 5.5% abv and need to be frozen for a minimum 8 hours.
New Products Launched WSWA 2017
Several producers of alcoholic beverages showcased their innovations to wholesalers and distributors at the annual Wine & Spirits Wholesalers of American (WSSA) conference. Some of the products include CannaVinus, Yolo Rum, VodQuila, Lila Wines, Manan, Seersucker Gin, Twisted Sticks, Scorpion Mezcal, and Maxime Trijol Cognac.
Chief editor of review team at FinancesOnline
Chief editor of review team at FinancesOnline Alex Hillsberg is an expert in the area of B2B and SaaS related products. He has worked for several B2B startups in the past and gathered a lot of first hand knowledge about the industry during that time.
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