News in Numbers
The value of the global trade in wine reached a high in 2022, with the estimated value of exports at €37.6bn. However, volumes fell amid “significant” price hikes, industry body the International Organisation of Vine and Wine said.
The Coca-Cola Co. is to plough $650m into its Fairlife milk brand with the construction of a production site in upstate New York. Building will begin this year and the site is expected to be fully operational by 2025.
Heineken is set to invest 1.5bn reais ($302.4m) into two breweries in north-east Brazil to expand production of three of its beer brands.
Spirits major Campari Group plans to double the capacity for its aperitif, Bourbon and Tequila brands to meet growing demand and tackle supply constraints across its portfolio. The total investment in “extraordinary” capex in the next three years is set to be €550-600m.
US craft-beer production remained static in 2022 in volume and market share, data showed. Small and independent brewers produced 24.3m barrels of beer, compared to 24.8m in 2021, according to trade association the Brewers Association (BA). Craft beer’s overall market share by volume grew 0.1 percentage points to 13.2% compared to the previous year.