The number of
distillery businesses in the United Kingdom has jumped 30% in just a year,
according to new figures suggesting the UK is on the brink of a ‘Rumnaissance’. Spirits of unusual and innovative flavors
have grown in popularity, particularly among young consumers, as has the
preference to ‘buy-locally’ from smaller, urban breweries and distilleries. The number of distilleries registered has
nearly tripled since 2015, according to the figures, with the number of new
entrants rising at faster rates with each passing year.
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| That Boutique-y-Rum Company 10 Year -Old |
Smaller,
independent alcohol brands that have generated high sales growth and achieved
premium Halewood Wine & Spirits, meanwhile,
acquired the Cornish spiced rum brand Dead Man’s Fingers earlier this year. But while the spirits industry looks to
continue its growth, James Simmonds, partner at UHY Hacker Young, identified
current sales figures which suggest the UK is about to undergo a “Rumnaissance”
which mimics the growth of the gin category over the past decade. Rum sales in the UK hit £1 billion in 2017,
up from £960million in 2016, according to the Wine and Spirits Trade
Association. “The growth of the UK
spirits industry looks to continue into 2018 as consumer demand for premium
priced spirits, an increase in M&A activity, and the rising number of
distillery businesses shows no signs of slowing.”
pricing have become attractive M&A targets for larger companies.
New rum-focused
enterprises have launched this year, both in the on and off-trade. Last month,
a family of four running their own micro-rum distillery in London relocated to
Scotland, having secured £100,000 to begin building a state-of-the-art
facility Livingston, West Lothian. The owners have predicted a 400% increase in
annual turnover. Atom Brands, the
company responsible for That Boutique-y Gin Company, extended its collection of
limited edition small batch casks to rum last month. The range comprises
of rare bottles and aged rums from exciting or long-lost distilleries,
including the Caroni Distillery in Trinidad and Monymusk in Jamaica, as well as
unexpected finds such as unaged offerings from O Reizinho Distillery in
Portugal. There will also be a selection of top secret distillery bottlings
aimed at the most devoted collectors.
Read More at https://www.thedrinksbusiness.com/2018/11/this-chart-shows-how-the-uks-spirits-market-has-changed-in-six-years/
