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National spirits make their mark

National spirits such as baijiu, soju and Indian whisky have gained significant market share recently and are expected to continue growing. According to a new report assembled by Vinexpo and the IWSR, global spirits consumption will grow 1.7% between in the next 3 years. The fastest-growing spirit category by volume will be Tequila followed by Cognac. Bourbon, Scotch and gin are also all predicted to perform strongly and set to increase volumes. The report also notes that all spirit categories will achieve growth in the premium-plus price bracket by 2021. Gin and baijiu are expected to see the greatest CAGR gains in this price bracket. Vinexpo CEO Guillaume Deglise remarked that markets with renowned national spirits such as China are home to “very loyal” consumers. “But on the other side,” he added, “the fact that baijiu is going more premium is also a good sign that these producers are looking to enter new markets, both locally and nationally.” Source: The Spirits Business, February...

Beer sales start strong in 2018

According to Information Resources, Inc. (IRI), beer sales and import figures have lived up to their New Year’s resolution, increasing by 3% in just the first month. The category’s growth has favored a handful of segments. In the lead are super premiums and imports, up 13.8% and 9%, respectively. Craft products experienced solid growth over the month, up 5.8%, and even cider is off to a significant start, up 3.3%. The January 2018 Beer Purchasers’ Index for total beer also has had noteworthy 2018 success. “The total beer index for January 2018 at 52 is significantly above the January 2017 reading at 42.2, which is not surprising giving the low inventory levels reported at the end of 2017,” said the National Beer Wholesalers Association (NBWA) Chief Economist Lester Jones. The index is reported as a composite measurement where a reading greater than 50 indicates the segment is expanding, and a reading below 50 indicates the segment is contracting. Source: Beer Business Daily, February...

The California wine industry following wildfire of October

The Tubbs fire was the most destructive wildfire in California history burning major areas of Northern California, including Napa, Sonoma and Lake counties. Since October 2017, grape growers and winemakers alike have been nervous to discover how the fire has affected crops. Vintners have begun to see some telling marks along the vines. Some appear completely destroyed, colored black and crisp to the touch, but it won’t be until budding season that growers will know for certain how much damage the Tubbs fire caused. In about mid-march, when the buds start emerging, vintners then will be able to determine if the shoots are growing normally, or if the vines are so spoiled they will have to be replanted. Even so, the vine can produce grapes- but their quality may have deteriorated. Growers will have to monitor the quantity and quality of the fruit to ensure yields throughout the vineyard are consistent. Luckily, only a small amount of vines were harmed by the fire. A recent survey by Sonoma State University’s Wine Business Institute found that 99.8 percent of the region’s vineyards were not affected by the October fires. But any loss can add up quickly in sales. Preliminary figures for the size and value of the 2017 crop are yet to be...

The New York International Beer Competition announcement

New York – On Sunday, February 11th, the New York International Beer Competition will welcome commercially produced beer, cider and mead makers from all around the world to partake in the opportunity of having expert trade buyers taste and rate their products.  As the only U.S. competition of its kind, the event will host distributors, retail stores, restaurant & bar owners, and importers to perform blind taste tests across different categories and prices. Brand owners will have the choice of promoting to their key trade target and determine if it is an appropriate fit. The judges are tasting and considering the product as if they are buying for their own business. The outcomes will immediately influence the brand’s ability to direct sales and enhance marketing efforts. This is an opportunity for craft breweries to bring their product into the eye line of industry professional and expert buyers. The competition will take place this upcoming Sunday, February 11th at 3 West Club, New York, NY. Park Street is acting as the Importer of Record for this competition. Once you submit your entry form to New York International Beer Competition, please contact our competitions team at: competitions@parkstreet.com Park Street will assist you in obtaining all necessary import documentation and supply you with detailed instructions for properly preparing and labeling your shipment. Please note that the COLA waiver takes 10 – 12 business days for approval back from the...

American Whiskey sales continue to grow

Reports by the Distilled Spirits Council show increased whiskey sales across major categories. U.S. revenues for bourbon, Tennessee whiskey and rye whiskey rose 8.1 percent, or $252 million, to $3.4 billion in 2017. Domestic volumes rose 6.4 percent to nearly 23.2 million cases. Ultra-premium whiskeys experienced the greatest surge among American whiskeys. Volumes rose 18.3 percent, while revenues were up 18 percent. These whiskeys typically take the longest to age and sell at the highest prices. Export revenues for bourbon, Tennessee whiskey and rye whiskey products also rose exponentially and are expected to reach $1.1 billion, driven by favorable exchange rates and trending demand for premium American spirits, the council said. The top five growth markets by dollar value for American distilled spirits were the United Kingdom, Germany, Brazil, France and Spain. Source: Fox Business, February...

Spirits sales reach $26.2 billion in 2017

The spirits category continued its stead growth, increasing its market share for the eighth consecutive year, according to the Distilled Spirits Council’s state of the union. Spirits suppliers sales were up 4 percent to $26.2 billion, an increase of roughly $1 billion over 2016. This marks the fourth consecutive year supplier sales grew by at least $1 billion. Volume was also up, growing 2.6 percent to 226 million cases. The growth has been weighted towards the high end, super premium products, according to the Council’s SVP of economics and strategic analysis. The top 3 factors that contributed to the growth in 2017 were: increasing consumer confidence, millennials preference for premium products and more company product innovations/line extensions that resonated with consumers. Source: Wine & Spirits Daily, February...