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n a report by the International Wines and Spirits Record (IWSR), Nigerian alcohol spirits brands made the list of world’s Top 100 fastest growing spirits brands.
The 100 brands came from the major spirits categories, including whiskey, gin, and vodka among others.
Jinro Soju, a product of Hite-Jinro of South Korea took claimed the top spot as the world’s fastest growing spirit brand by volume, Seaman Schnapps, a brand of Nigerian Distilleries Limited (NDL) made a respectable showing at No. 42.
According to IWSR, Seaman Schnapps grew 33% in volume from 2017 to 2018. Action Bitters from International Distilleries Limited (IDL) was another Nigerian spirits brand that made the list at No. 52 with a 28% volume growth.
Captain Jack Rum brewed by Stellar Beverages Limited also made the list at No. 63, other notable mentions include global spirits maker – Diageo’s McDowell’s No. 1 whiskey at No. 5 with 7.8% volume growth; Diageo’s McDowell’s Brandy at No. 8 with 17.8% volume growth; Gordon’s Gin, and Bailey’s Cream Liqueur also from Diageo at No. 49
According to the report, the world’s leading spirits brands’ volume sales grew by 11% in 2018 with Indian whiskeys performing strongly. The analysis shows that spirits continue to enjoy great consumer loyalty against a backdrop of beer and wine declines. Growth was calculated on the actual increase in the number of 9liters cases that each brand grew (regardless of brand total volume size) globally between 2017 and 2018.
Globally, beer volume declined 2.2% in 2018, impacted greatly from volume decreases in China (-13%). Other large markets such as the US and Brazil also fell (-1.6% and -2.3%, respectively), while Mexico and Germany saw growth (6.6% and 1%, respectively). The future outlook for beer, however, paints a more positive picture, as the category is expected to show a slight increase in 2019 and post a 0.7% CAGR 2018-2023.
OLUFIKAYO OWOEYE
