Dive overview:
- Non-alcoholic distiller Apros has raised $5.5 million in a Series A funding round, the company said in a statement.
- The company said it will use a funding round led by McCarthy Capital to expand distribution in bars, restaurants and retail stores.
- Global sales of the non-alcoholic and low-alcohol category are expected to exceed $11 billion in 2022, with accelerated growth over the next few years. According to IWSR data.
Dive Insight:
As the popularity of non-alcoholic products rises, so too do upstarts such as: Appro is expanding rapidly.
Low-alcohol and non-alcohol sales are $200 billion U.S. alcohol marketthe category has benefited from consumers who value healthier products and are less likely to consume them regularly, especially on weekdays.
Apros was launched in 2020 as a mixologist-crafted, non-alcoholic spirit infused with sustainably organic, broad-spectrum hemp. The company says it was designed as a calorie-free, hangover-free alternative to alcohol.
“APROS was born out of a desire to reimagine cocktail opportunities for a new era, creating non-alcoholic spirits that offer the same experience, quality and functional effectiveness as the world’s most sophisticated traditional spirits. ” said co-founder David Fudge. Apros CEO said in a statement:
While much of the attention for non-alcoholic products has focused on beer, including Heineken 0.0, Guinness 0.0, Budweiser Zero, and products from start-up Athletic Brewing, spirits have also made their way.
However, not all products are successful. House, a low-alcohol aperitif maker that used fruits, herbs and botanicals to make pomegranate-rosemary, lemon-lavender and grapefruit-jalapeno aperitifs, closed after a funding round failed to materialize.
Data recently provided to Food Dive by PitchBook shows that the volume of venture capital funding (both raised and number of deals) for food and beverage startups in the past four quarters has declined significantly compared to the same period last year. there is
Still, the non-alcoholic beverage category is on the rise, so beverage companies are likely to remain involved as they seek growth avenues. This is especially important as we aim to build a customer base for the future. According to his IWSR research cited by Molson Coors, the non-alcoholic beverage category is expected to grow 27.6% by 2025 between the ages of 21 and 24.