Tom Holland's Bero taps into surging non-alcoholic beer market

  • 📰 FoxBusiness
  • ⏱ Reading Time:
  • 44 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 53%

Business News News

Business Business Latest News,Business Business Headlines

The non-alcoholic beer market has rapidly grown in recent years with some industry experts saying the segment may continue to grow much faster than regular beer.

A tidal wave of companies, including those owned by celebrities, are trying to tap into the non-alcoholic beer market, which is gaining traction among a large swath of consumers. Bump Williams, CEO of Bump Williams Consulting, projects growth in the category for the next decade, with double-digit increases for at least the next five years. "Drinking a non-alcoholic beer today is not like it was 25 years ago when the only people drinking them were recovering alcoholics.

The growth of people being more discerning about what they're putting in their body while not wanting to say no to moments of making memories is going to stay." Herman told Fox Business, adding that "nonalcoholic beer is the most natural adjacency to the real thing. The flavor and experience is very much 1 to 1. Some of the other categories don't have the same 1 to 1.

All of this creates critical mass among beer distributors and retailers that validates the category and makes product increasingly available on and off premise," Ottenstein said. "At restaurants and grocery stores, consumers expect to see beers and increasingly a variety of them." Ottenstein projected that the "category should continue to grow much faster than regular beer and could at some point become 5% or more of the total market in the U.S.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 458. in BUSÄ°NESS

Business Business Latest News, Business Business Headlines