In particular, the company saw growth of 12% in the US, a market where it’s just announced a mega-deal with Molson Coors.
In its native UK, it remains the ‘clear market leader’, outperforming the mixer category at retail in 2024, despite industry headwinds.
Fever-Tree performed well in 2024, despite a consumed environment. That’s because it taps into key consumer trends such as lower ABV drinks and non-alcoholic drinks, as well as cocktails and traditional drinks, said Tim Warrillow, co-founder and CEO.
“Global trends in the beverage sector are firmly in Fever-Tree’s favor. And we believe that we’re uniquely positioned to take advantage of all the trends across adult socializing, from traditional mixing, to lower ABV, to non-alcoholic options,” he said.
“We continue to see consumer trends evolve and develop across the adult socialising spectrum. Spirits continue to take share from wine and beer, and this is being largely driven by the growing premiumization of the long-mix drink. This trend lends itself perfectly to continued growth of our core mixer range, where we still have a lot of white space to penetrate around the world.
“In addition, we’re seeing the trend for drinks with lower ABV and lower calories starting to really gain traction, one again a trend dependent on mixers.
“And the desire for sophisticated non-alcoholic drinks is no longer a niche category. In the last few years, it’s really started to gain widespread consumer and trade attention.”
Originally founded as the perfect tonic water to accompany gin, Fever-Tree has now diversified into other products. For example, non-tonic products now comprise of more than 45% of global revenues, driven by the strong growth of ginger beer and a growing position in cocktail mixers and adult soft drinks.
In the US, the brand brought in revenues of around £128m, which means it is now the company’s largest market.
In the off-trade channel, which accounts for around 75% of the company’s US sales, Fever-Tree grew its market share of the total mixer category and extended its market leading value share in both the tonic and ginger beer categories, with 27% and 32% value share respectively.
Representing ‘by far the most significant strategic step’ we have taken in the US market is a long-term strategic partnership with Molson Coors for the exclusive sales, distribution and production of the brand in the US.
