Just Drinks

Daily Newsletter

10 October 2023

Daily Newsletter

Catoctin Creek Distilling Co. takes back minority stake from Constellation Brands

Constellation Brands bought a minority stake in Catoctin Creek Distilling Co. in 2017 through Constellation Ventures.

Well, that didn’t take long. Just a couple of weeks after Diageo CEO Sir Dave Lewis bemoaned the company’s underrepresentation in the lower price brackets of the US spirits market, here’s Johnnie Walker Red Soul, a £25-a-bottle ($33) “more accessible Scotch for non-whisky drinkers”.

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Flavored alcoholic beverages poised to register the fastest growth within the alcoholic beverages packaging industry

The global alcoholic beverages packaging industry has grown to 445.4 billion units in 2022, with volumes forecasted to grow at a CAGR of ~2% by 2027. APAC represented the largest region in 2022, followed by the Americas. Glass was the most used pack material globally, followed by rigid metal and rigid plastics. Volume-wise, the industry was led by the beer & cider sector in 2022, while the flavored alcoholic beverages sector is forecast to register the fastest growth at a CAGR of 6.1% during 2022–27, followed by spirits and wine.