DISCUS: Market Share Increase for US Spirits Fueled by Premiumization and RTDs
For the first time, spirit revenues have eclipsed beer, according to the Distilled Spirits Council of the United States (DISCUS) in its annual economic briefing today.
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This Week’s New Products: Immunity-Boosting Beverages, Plus Chaga Matcha Mix
As cold and flu season rages on, this week’s new products gallery showcases immunity-boosting beverages from Favor and Ocean Spray. Plus, Renude introduces a mushroom-based twist on the classic matcha latte and Willa’s unveils an improved formula for its barista oat milk.
PepsiCo: Food and Beverage Price Hikes Increase Net Revenue, Hurt Consumer Demand
PepsiCo’s quarterly net revenue surpassed analysts’ expectations following price hikes for its food and beverage products. The New York-based conglomerate’s net sales rose 10.9% to $28 billion in Q4 2022 against analysts’ estimate of $26.9 billion. Organic revenue, which excludes the impact of acquisitions and divestitures, rose 14.6% during the quarter.
On Heels of Completed Investment, Rishi Reveals Growth Plans
When Rishi Tea & Botanicals founder Josh Kaiser launched his business as a 24-year-old fresh out of college in 1997, he was used to being the youngest one in the room.
Bimble Moves Into Cans After MA Hemp Laws Cease Co-Packing Agreement
Cannabinoid drink brand Bimble has ditched its 12 oz. glass bottles, kicking off the new year by downsizing into 8 oz. slim cans that pack the same 25 mg dose of CBD, but less liquid and, subsequently, less calories.
Nielsen: Non-Alc Bev Sales Stable; Volume Rebounds Driven By Slower Pricing Growth
Sales growth in the non-alcoholic beverage industry remained “robust and broadly stable” at +13.3% as price increases slowed, driving a rebound in volume growth.
Barcode: Next-Gen Hydration Drink At ‘Inflection Point,’ Aiming for 5K Doors
After testing the market for a premium sports drink for the past two years, Barcode is ready to move into national distribution. Recently, the fitness water hired a new COO to help scale the brand for a larger distribution push and new innovation in 2023.
Elevator Talk: Tepetán, Sommarøy, Uncle Waithley’s Vincy Brew, JAS, Cheeky Cocktails
Watch founders and CEOs introduce their brands and provide a recap of recent news and updates. This week's special co-host is Mike Fata, the founder of Manitoba Harvest and Fata & Associates, who shared his thoughts, questions and feedback with the participants.
New Bill In California Seeks to Widen Access to Spirits-Based RTDs
California lawmakers have introduced a bill that would allow wine and beer retailers to sell spirits-based, ready-to-drink (RTD) beverages that are lower than 10% ABV and in containers no larger than 16 oz.
Taste Radio: Everyone Is Talking About Profitability. There’s No Hitch. But There Is A ‘Hatch.’
Natalie Shmulik, the chief strategy and incubation officer of The Hatchery Chicago, spoke about the incubator’s origins, the most pressing needs and challenges facing small businesses and how she and her team are advising brands on scaling and investment. She also discussed the typical attributes of a company that has successfully scaled beyond The Hatchery and how high-profile strategic partners, including Pepsico and Mondelez International, are involved in its development.
Koia Adopts Vertical Integration Model with Anaheim Production Plant
Seeking to swiftly amplify its sales and velocity over the coming years, California-based plant-based beverage company Koia has transitioned to a vertically integrated production model with the acquisition of a production facility in Anaheim.
Survey: C-Store Q4 Beverage Sales Strong; Retailers Cautious Toward FY Growth
Total sales of alcoholic and non-alcoholic beverages remained strong in the convenience channel last quarter, even as retailers are still cautious about if the space will sustain momentum in the year ahead due to broader economic pressures, according to results from the ‘Beverage Bytes’ survey released last week, conducted by Goldman Sachs Equity Research.
Shawn “Jay-Z” Carter, Bacardi Settle Multibillion-Dollar Battle Over D’ussé Cognac Venture
A year-long legal dispute between rapper and business tycoon Shawn “Jay-Z” Carter and Bacardi was finally resolved on Friday when the spirits giant announced it has agreed to acquire the majority of Cognac venture D’ussé, with Carter retaining a significant ownership stake through his company SCLiquor.
Roar Organic Adds $6M To Build Out Sales Team
Roar Organic secured a $6 million capital infusion to expand its sales and marketing teams as it increases its grocery retail presence and prepares for fresh innovation in 2023.