If you’re in the hospitality industry, you may have noticed an increase in alcoholic drinks sales revenue in 2016 and it’s not that people are drinking more, they’re just refining their drinking preferences, opting for more premium alcoholic products.
According to IBISWorld researchers, Treasury Wines Estates and Carlton & United Breweries saw revenue grow by 19.1 per cent and 15.7 per cent in 2016.
This growth was enough to knock Nestle and George Weston Foods off the top 10 Australian food and beverage companies for 2016 list.
In the top 10 were Treasury Wine Estates at No. 9, CUB at No. 10 and Japanese alcohol giant Kirin at No. 3.