US craft spirits market shows potential for growth
October 18, 2016
The American Craft Spirits Association (ASCA), International Wine and Spirits Research (IWSR) and Park Street released highlights from the Craft Spirits Data Project at the inaugural Craft Spirits Economic Briefing at the Nomad Hotel in New York. The Craft Spirits Data Project, announced earlier this year, is a research initiative to provide a solid and reliable fact-base for evaluating performance and trends in the U.S. craft spirit industry, the companies say.
When it comes to food and beverage development, healthy usually is among the top considerations. In Beverage Industry’s 2016 New Product Development Outlook report published in the January issue, only 14 percent of respondents listed convenience a low need/interest.
When I go out to dinner, typically I order water with lemon because I want to avoid excess calories and save a few dollars. However, when I want to indulge, a traditional Margarita on the rocks is my go-to drink.
In evaluating its forecasted growth expectations for beverage alcohol sales at the nation's bars and restaurants, Chicago-based Technomicexpects to see modest improvements in 2016, the market research firm says. This comes from research conducted for Technomic's Adult Beverage Planning Program, a membership-based program delivering suppliers with research on key topics and trends related to the adult beverage on-premise industry.
Although a tidal wave of new flavors have been flooding the market, staple flavors, like citrus, have held their ground, according to experts. The two most popular citrus options, lemon and orange, remain solid competitors against newer fruit entrants in the market.