Export data is in for 2023, so we took a look at what the numbers mean for rising spirits like Scotch whiskey and mezcal. 📉After a “bumper” year for many exports, Scotch exports were down -9.5% by value and -19%, French exports of wine and spirits fell -5.9%, and agave spirits like mezcal and tequila fell a bit too. 💀 Destocking and consumers tightening their belts in the U.S. were to blame for much of those dips. With analysts at WSWA now proclaiming premiumization as dead, the down-trading in Scotch or agave spirits may create headwinds for those categories. 🌏 With so many new entrants in agave spirits, competition may heat up too, but European spirits may face obstacles that have more to do with global politics. The long-term tariff-free trade of Scotch and other European exports will be up for renegotiation in a few years, and as you may remember, the free-flow of other spirits was interrupted during the Trump administration. Read the full story on BevNET. |