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description=The spirits and wine industry is fascinating and I’ve been in and around it for much of my work in life. Even though my general marketing and consulting work takes me to other industries, the alcohol industry or booze business is like none other. It’s an industry that, despite its size and growth, is small. It’s a business of people, relationships and stories. Lots of stories. That s what Booze Business is about.;
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booze business a blog dedicated to the business of spirits and wine home about me about this blog articles now on tap inside the bottle menu uncategorized we have moved june 29 2026 2 comments our new address is https www arthurslibrary com booze business blog leave a comment direct to consumer industry matters news marketing and sales trends the state of the booze business what does the future hold july 9 2024 1 comment the u s is currently in a period of transformation with widespread shifts in most businesses the alcohol industry stands out as it undergoes changes that are not only fundamental but also unique driven by changing consumer preferences technological advancements and shifting demographics here is a close look at the key factors affecting the industry the sober curious movement the sober curious movement is a lifestyle approach where people become more mindful about their alcohol consumption without necessarily committing to complete abstinence it involves deciding if when and why to drink dry january is a good example one of the key factors driving the non alcohol trend is the sober curious movement non alcohol beverages growth this shift is strongest among younger generations with gen z born 1997 2012 drinking over 20 less than other generations did at their age the non alcohol beverage market is expected to grow 31 by 2024 making it the third fastest growing beverage category in the u s source this shift is reflected in the market with beer sales stagnating wine offering alcohol free alternatives and spirits brands introducing non alcohol versions of cocktails premiumization this is not a new trend it has grown for years if not decades and is accelerating first and probably foremost is drinking at home most americans say they consume alcohol at home and 46 of those surveyed say they are likely to treat themselves to premium options there in addition the longstanding idea of drinking less but drinking better continues to apply premiumization is most notable in spirits overall 33 of americans said they had spent 50 or more on a bottle of alcohol in 2022 against just 24 in 2021 furthermore six in 10 online shoppers say they spend more on alcohol online than in store source e commerce and direct to consumer dtc while some recent reports show a slowing of the dtc market the growth driven mainly by covid is dramatic total beverage alcohol e commerce sales are expected to grow 66 by 2025 reaching 42 billion annually this trend is fueled by consumer demand for convenience and the industry s adaptation to changing purchasing habits iwsr predicts a 2023 27 value compound annual growth rate cagr of 7 for online alcohol sales in the u s compared to a total beverage alcohol tba cagr of 1 over the same period this would result in e commerce s tba share increasing from 3 2 in 2022 to 3 9 in 2027 however the 7 growth is a drop on the 11 cagr prediction estimated for 2022 to 2026 source functional benefits there s a growing interest in functional beverages that offer benefits beyond taste and alcohol content the functional beverage market is projected to reach 261 billion by 2032 with a cagr of 6 5 these drinks often include added vitamins minerals or other health promoting ingredients from clarkston consulting while functional beverages themselves aren t a new concept the development of functional alcoholic beverages is relatively new to the industry one of the driving brands in this market vizzy offers fortified alcohol products designed to incorporate vitamins and antioxidants into the drinking experience other beverages released include hard kombucha which is low calorie made with real fruit and has an assortment of other natural benefits while still providing the desired alcohol content fitvine has also released wines that stand out for zero sugar content without compromising flavor or abv ready to drink rtd cocktails and canned beverages rtd cocktails and canned beverages continue to gain popularity offering convenience and portability this category is currently the fastest growing product in the industry and is expected to earn an additional 8 of the market by 2025 the trend is driven by consumers seeking easy to consume options for various occasions the rtd alcoholic beverages market was estimated at 18 7 billion in 2023 and is expected to reach 28 6 billion in 2033 growing at a compound annual growth rate of 7 9 according to this report cannabis infused beverages this is a trend prediction that is well worth considering or perhaps troubling as cannabis legalization expands thc infused beverages are emerging as a potential competitor to traditional alcoholic drinks the cannabis infused drinks market is projected to grow at a cagr of 37 8 reaching 8 7 billion in annual sales by 2032 source according to a recent report on cnbc for the first time more americans are using marijuana on a daily or near daily basis than alcohol in addition from 1992 to 2022 the per capita rate of daily or near daily cannabis use increased 15 fold other areas sustainability and eco friendly packaging introducing recyclable or biodegradable packaging and reducing carbon footprints in production and distribution to name a few craft and artisanal products while the craft beer boom has somewhat stabilized there s still strong interest in craft and artisanal products across all alcohol categories craft spirits are seeing growth as consumers seek unique and locally produced options source the best way i know to summarize the changing climate for the alcohol industry is to leave you with a favorite quote from peter drucker the renowned management consultant a time of turbulence is a dangerous time but its greatest danger is the temptation to deny reality leave a comment books my new book december 8 2023 2 comments the big apple bites back short stories about life in new york city at long last the release of my latest book is officially available for purchase in paperback on amazon and select bookstores with an ebook not far behind grab yourself a copy today and maybe another for last minute holiday gifts it s not about the booze business but a series of stories about life in nyc the people neighborhoods the workplace dashed dreams and life on the street it s a fun read it s available on amazon and some bookstores here is the link https shorturl at hvefm leave a comment 1 2 3 103 next search for search learn more subscribe get the latest from booze business in your inbox first name last name email address leave this field empty if you re human find arthur shapiro on tweets by boozebusiness recent posts we have moved the state of the booze business what does the future hold my new book happy hour in a stone age cave a fable revel avila a new agave spirit and category learn more about booze business about me about this blog articles now on tap inside the bottle home about me about this blog articles now on tap inside the bottle