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.
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.