Independent spirit distilleries’ turnover increased by eight per cent last year, as locked down Brits concocted their own cocktails.
Turnover reached £1.87bn last year, up from £1.72bn the previous year, according to private equity investment firm Growthdeck.
Consumers spent an additional £566.8m on spirits as bars and pubs were forced to close for months due to the pandemic.
Gin distilleries enjoyed a turnover boost of 15 per cent, more than twice the rate of growth of whisky distillers, which grew by six per cent in the last year.
Drinkers on the hunt for locally made drinks and different flavours drove growth in the premium craft spirit category, helping independent distilleries.
Hobbyist distillers have been inspired by the pandemic to start new businesses while international drinks giants have acquired smaller independent craft brands.
Pre-mixed cocktails were also a popular choice as Brits spent £412m on ready to drink products, an retail sales increase of 23 per cent.
“Independent distilleries have seen sales grow as consumer demand moved further towards craft spirits and cocktails in the past year. Lockdown meant many people experimented with mixing cocktails for the first time or trying new craft brands, and these independent companies are benefiting from that,” Aman Thind, relationship director at Growthdeck, said.
“This trend is here to stay as consumers continue to try new flavours and blends from different distilleries, as well as trying new cocktails. This could lead to supermarkets and bars stocking more independent and craft drinks as consumers’ tastes change.”