Food

Independent distilleries’ turnover reaches £1.87bn – The Spirits Business

With spirits retail channels booming during Covid-19 lockdowns, the turnover of independent distilleries in the UK hit £1.87 billion (US$2.59bn) in 2020.

At-home cocktail making boosted the turnover of independent distilleries in the UK

According to new research from private equity investment firm Growthdeck, the UK’s independent distilleries saw their turnover grow 8% last year, from £1.72bn (US$2.38bn) in 2019.

Growthdeck aggregated data from the UK’s top 20 privately owned distilleries to determine their collective turnover.

The firm found that with bars and restaurants closed, consumers spent £566.8 million (US$785.67m) more on craft spirits last year than the year before.

Amand Thind, Growthdeck’s relationship director, credited this growth to the trend towards at-home cocktail making. “Lockdown meant many people experimented with mixing cocktails for the first time or trying new craft brands, and these independent companies are benefitting from that,” she said.

Gin distilleries in particular profited from the retail surge, with juniper spirits producers posting a 15% increase in turnover.

Meanwhile, whisky distilleries experienced more modest growth, climbing 6%.



Share this news on your Fb,Twitter and Whatsapp

File source

News Nation USA: Latest News Headlines
News Nation USA||USA News||Science||Education||Sports||World

Show More

Related Articles

Back to top button
Close