Bacardi forecasts 400% growth in low-ABV sector by 2024
16th December, 2020 by Nicola Carruthers
Bermuda-based Bacardi expects the retail sales value of the no- and low-alcohol ‘spirits’ category in Western Europe to reach US$500 million over the next four years.
Bacardi’s Less is More campaign seeks to drive awareness of the firm’s no- and low-alcohol products
Bacardi, owner of brands such as Dewar’s Scotch whisky and Grey Goose vodka, made the prediction based on data from IWSR Drinks Market Analysis. The sector’s retail sales value in Western Europe was US$100m in 2020.
Bacardi said the mindful drinking movement continues to gain traction across the globe, particularly in Western Europe. The lockdowns and restrictions in 2020 due to the coronavirus pandemic have accelerated its growth, the firm noted.