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Hard iced tea surges
Ready-to-drink tea that is spiked with 5-8% alcohol by volume is now the top-selling segment in the US Flavored Malt Beverage (FMB) category, displacing popular hard ciders and lemonade.
The global market for hard tea, estimated at $2 billion last year, will grow to almost $20 billion by 2032.
There are now 150 hard tea brands in the market, an increase of 80% since 2020. The number of stock keeping units — one is assigned for each hard tea flavor and package — has increased from 161 in 2020 to 216 in 2023.
Source: STiR Coffee & Tea (Extracts), Courtesy: Tea Exporters’ Association Sri Lanka
About F&W
Forbes & Walker was set up in 1881 as a partnership between James Forbes and Chapmen Walker. Although there is no actual record of the date on which it was established the very first cash book, still in the possession of the Finance Director, indicates the brokerages were earned from 1st August 1881. In Sir Thomas Villiers' book “Mercantile Lore” the date of establishment of Forbes & Walker has been put down Read More...