‘NZ spirits industry ripe for investment’
“A growing number of investors are eyeing New Zealand’s nascent spirits industry, with many small and medium-sized firms jostling to replicate the successes of the country’s wine growers, a new report has revealed.
According to Coriolis Research, with a study backed by several government agencies, New Zealand’s spirits sector is in the early phase of its growth cycle and is ripe for expansion. Tim Morris, Coriolis’s managing director, told FoodNavigator-Asia that the report was part of a larger project to assess the segments that could drive the country’s future exports. At the end of the study it became clear that “spirits stood out.”
The report pointed out that the segment is currently worth US$47m in exports and has been growing at a compound rate of 10% per year over the past decade.” Read the rest of the Food Navigator Asia story here…