GROWTH BRANDS.
Coming off three straight years of rapid growth during and after the pandemic, sales in the beverage alcohol industry cooled significantly in 2023. With a few notable exceptions, most spirit and wine categories were down in sales compared to 2022.The explosion of new offerings in the ready-to-drink market kept overall beverage alcohol sales from dipping for the first time in decades. Many of these new brands don't fit the traditional RTD definition, which is why we've broken out Ready-to-Drink as its own category separate from wine and spirits this year. For the purposes of the Growth Brands, an RTD must be less than 15% ABV, contain wine or spirits as its alcohol base and consumable as sold.
As you'll see in the following pages, 58 spirits, 26 wines and 16 RTDs qualified as Growth Brands this year, based on 2023 calendar year sales. We spoke to brands about what makes their product successful, from their promotions and activation programs to support from trade partners in the middle tier, on-premise and off-premise.
We congratulate all this year's winners, and will recognize them during a reception at the 2024 Beverage Week event in Chicago on June 17. For more information about how to attend the event or sponsor the festivities, visit bevweek.epgacceleration.com/2024.
SUPPLIERS OF THE YEAR AND HALL OF FAME
The Suppliers of the Year award is given annually to the companies whose Growth Brands winners showed the most growth, as determined by the Beverage Information Group's research team.
The 2024 Spirits Supplier of the Year is Beam Suntory, whose four Established Growth Brands show impressive staying power year after year. The 2023 Wine Supplier of the Year is Deutsch Family Wine & Spirits, which placed four brands on this year's list. And the 2024 RTD Supplier of the Year is Constellation Brands, whose two winning brands both more than tripled in sales last year.
One brand earned its 15th overall Growth Brands win this year, making it eligible for the Hall of Fame. Bota Box is our newest inductee, thanks to impressive growth.
Congrats to all! Look for the full profiles of all honorees in our fall issues.
DETERMINING THE WINNERS
The Beverage Information Group determined this year's winners using the following criteria, based on brands' projected case sales for the 2023 calendar year.
* Rising Stars are less than five years old and have grown each year of their existence, reaching at least 20,000 9-liter cases in 2023.
* Fast Track Brands are at least five years old and have exceeded 100,000 9-liter cases sold in 2023, averaging double-digit growth over the past three years.
* Established Growth Brands are top sellers in their category, at least five years old and moving a minimum of 400,000 9-liter cases in 2023. They have also shown growth in sales over each of the past three years.
* Comeback Brands are previous winners that have rebounded in sales to at least their previous level, following a recent decline.
For more information about the Growth Brands Awards and other industry data/analysis that's available from the Beverage Information Group, including the 2024 Industry Overview handbook, visit EPGSpecialtylnformation.com or contact analyst Marina Velez at [email protected].
FASTEST-GROWING GROWTH BRANDS*
(000 9-Liter cases)
'22/'23
Brand Supplier %Chg
SPIRITS
Biggies BuzzBallz Cocktails BuzzBallz 462%
Mi Campo Constellation Brands 71%
Aperol Campari America USA 40%
Lunazul Tequila Heaven Hill Brands 38%
Milagro William Grant & Sons 29%
Ole Smoky Whiskey Ole Smoky Distillery 25%
Espolon Tequila Campari America USA 23%
WINE
The Crossings Deutsch Family Wine & Spiits 37%
Banshee Foley Family Wines 28%
Bota Mini DFV Wines 17%
Buzzballz Chillers BuzzBallz 13%
Bread & Butter WX Brands 11%
SeaGlass Trinchero Family Estates 11%
READY-TO-DRINK
Jack Daniel's Ready to Drinks Brown-Forman Corporation 371%
BeatBox Beverages Future Proof 160%
High Noon Sun Sips Gallo 31%
Monaco Cocktails Atomic Brands 17%
Cutwater Cutwater Spirits (ABI) 15%
Source: The Beverage Information Group 2024 Industry Overview handbook
(*) Minimum 5 years old
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| Title Annotation: | 2024 WINE & SPIRITS |
|---|---|
| Publication: | Cheers |
| Date: | May 21, 2024 |
| Words: | 651 |
| Previous Article: | Sparkling Wine: TRENDS FOR 2024. |
| Next Article: | THE TOP SPIRITS TRENDS. |
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