Just Drinks

Daily Newsletter

03 October 2023

Daily Newsletter

“We want brands that have a similar consumer appeal as our wines” – Foley Family Wines president Shawn Schiffer on the US group’s entry into spirits

Under president Shawn Schiffer, Foley Family Wines has added a presence in spirits to its business.

Diageo must “right-size” its business after a period of over-investment, CEO Sir Dave Lewis has said after outlining plans to extract $1bn in savings from the company.

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Ready-to-Drink (RTD) beverages market expected to grow at a CAGR of ~5% by 2027

Rising urbanization coupled with the increasingly busy lifestyles of consumers have resulted in the increasing demand for RTD beverages that are easy to carry and quick to consume. Further, the pandemic has created a huge surge in demand for non-alcoholic beverages with functional benefits and value addition, including low sugar, added proteins, probiotics, and plant-based ingredients. The beverage manufacturers have been capitalizing on the trends by focusing on both value addition and convenience associated with the packaging of RTD beverages.