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Nirvana Brewery seeks investment following record 72% growth
Low-alcohol brewery Nirvana has announced expansion plans after a 550% increase in 2021 exports fuelled by spike in global interest in no and low products, db can report.
Nirvana Brewery projects 100% growth in 2022. Trading with countries on many continents, including the US, Chile, Japan, Kenya and Australia, has led to an increase in exports of 550% in the past year.
Once a rarity in the global beverage alcohol market, no- and low-alcohol drinks grew by more than 6% in volume in 10 key global markets in 2021, and now command a 3.5% volume share of the industry, according to a new study published by IWSR Drinks Market Analysis.
The UK sector is now worth an estimated £143 million, according to research firm Kantar.
“I think a lot of markets are looking to the UK for our alcohol free products, because we’re really leading the way in the innovation,” Kean told db this morning.
“Nirvana Brewery was the first bricks and mortar brewery to dedicate entirely to low-alcohol brewing, and I think that’s just a sign of the innovation that’s happening in the UK,” she added.
Canada and the US remain key markets for the brand, which has now expanded exports to all continents. “One of our main markets is UAE and the Middle East,” Kean said. “But we’ve also got exports going to Asia; to Japan, Singapore, Taiwan. And also some export to South America and Africa.”
The company saw record growth of 72% in 2021.
Nirvana has now launched a private fundraising campaign with the hopes of raising £500,000 from strategic and angel investors. With funds raised the brand aims to focus on key objectives of UK draught and international packaged growth.
According to Kean, the investment will enable Nirvana to “capitalise on interest, be able to produce more to meet the demand, grow our team and also invest in more marketing and branding campaigns”.