Food Drinks

The biggest spirits stories of 2020

Daily News Post || Food:

14th January, 2021 by Nicola Carruthers

It’s been quite a year for the spirits industry, with a global pandemic and trade wars grabbing the headlines. The Spirits Business looks at the biggest breaking news from the past 12 months.

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SB presents an overview of the most pressing issues that have hit the headlines in the past 12 months

Last year saw a number of big companies hit the headlines including Beam Suntory, which was hit with a US$19.6 million fine over a bribery investigation.

The Covid-19 pandemic dominated the sector last year, with total alcohol sales predicted to decline by 8% in 2020, according to new forecasts.

Spirits such as vodka and rum were caught in the crossfires of a trade war, after the European Union imposed 25% tariffs on an additional US$4 billion worth of US goods.

The Macallan continued to break auction records, with a Macallan 1926 Valerio Adami bottle selling for over US$1 million. Meanwhile, the hard seltzer category reach sales of US$14.5 billion by 2027.

Click through the following pages to discover our pick of the top 10 biggest spirits stories of 2020.

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