US: Molson Coors Looking To Regain Share From Wine, Spirits
US: Molson Coors Looking To Regain Share From Wine, Spirits
Mar 3, 2011 6
(Dow Jones)--Beer maker Molson Coors Brewing Co. (TAP) says it is actively pursuing opportunities to gain followers among those who may prefer chardonnay and cognac to Coors Light.
While the overall market for alcoholic beverages continues to grow, much of that increase is coming from wine and spirits. In comparison, beer's market share is sinking.
"I think we were asleep at the wheel," Chief Executive Peter Swinburn said in an interview, noting that wine has become a popular "aspirational" drink and spirits companies have done a good job broadening their market.
Swinburn was in town following Molson Coors' annual analyst meeting Wednesday.
According to data from the Distilled Spirits Council of the United States, beer suppliers held a 49.8% share of the alcoholic beverage market in terms of revenue in 2010, down from 55.5% a decade earlier. Meanwhile, spirits gained 4.6 points to 33.3%, and wine rose to 17% from 15.7%.
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