The turnover of independent UK spirit distilleries grew by 8% to £1.8 billion according to a report by private equity investment firm, Growthdeck.
Consumer demand for locally produced drinks fuelled the premium craft spirit trend during the Covid lockdowns.
Independent gin brands were particularly popular, increasing in turnover by 15%, more than twice the 6% growth enjoyed by whisky distillers.
As UK consumers took to mixing their own cocktails at home during lockdown an extra £566.8 million was spent on spirits.
“Independent distilleries have seen sales grow as consumer demand moved further towards craft spirits and cocktails in the past year,” said Aman Thind, relationship director at Growthdeck.
“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.”
“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.”
As well as created drinks, consumers spent £412 million on ready-to-drink beverages in 2020, a year-on-year increase of 23%.