Constellation Brands is divesting a portion of its mainstream and premium wine portfolio - including Cooper & Thief, Crafters Union, The Dreaming Tree, Monkey Bay, 7 Moons, and Charles Smith Wines - to The Wine Group.
Premiumization has been a key trend for spirits for years: but the pandemic has helped accelerate growth, according to the Distilled Spirits Council of the United States (DISCUS).
Lockdowns prompted consumers to treat themselves to premium drinks at home: and even now people continue to embrace the idea of entertaining loved ones with special drinks in their own house, according to UK supermarket Waitrose.
Consumers have been looking for elevated at-home coffee experiences: with the pandemic pushing forward premium coffee trends at the kitchen table. But what can we expect from the category in the future?
Australian gin specialist firm Four Pillars' newly-appointed regional head of Asia believes that regional demand for premium and craft gin is on the rise, which will help the company build on its significant export markets growth in 2020.
Constellation Brands has formed a standalone, vertically integrated fine wine and craft spirits business unit ‘to enable its aspiration to be the #1 leader in the fine wine category and among the top portfolios in cult and luxury wine’.
Energy drink giant Red Bull believes that product localisation and development of the premium segment are logical next steps for the market in Asia Pacific, even as its original formulation continues to dominate sales.
