UK – Alcohol-free beer brand Lucky Saint has raised over US$12.2 million in investment in a series A funding round, marking a record-breaking seeding amount that a non-alcoholic beer has raised in Europe.
The investments round was led by venture capital companies Beringea and Innocent Smoothie founders JamJar Investments and had participation from new and existing investors including Wahaca CEO Mark Selby, Warburtons chairman Jonathan Warburton, adam&eveDDB co-founders James Murphy and David Golding, Karmarama founder Ben Bilboul and Rugby World Cup player Will Greenwood.
Lucky Saint CEO Luke Boase outlined that the latest investment will ensure further success for the company in the UK and help it build a globally recognized alcohol-free brand. Boase noted: “We’ve just scratched the surface of this opportunity.”
Explaining how the company plans to focus on expanding into Europe while growing its team and solidifying its UK base, he stated: “This investment will kick-start our launch into European markets and put more Lucky Saint in pubs up and down the UK. “
“And with one in three pub visits now alcohol-free, we are excited that our pub and brand HQ is launching in central London, where it all began four years ago.”
As per the report published by Global Market Insights Inc., the global non-alcoholic beer market estimated at US$22 billion in 2022 is expected to surpass a valuation of US$40 billion by 2032, progressing at a CAGR of 5.5% from 2023 to 2032.
The report says the introduction of alcohol restrictions and emphasis on safer drinking habits will amplify the demand for low-alcohol beverages.
Furthermore, the increasing awareness about health issues associated with alcohol intake, including cancer and stroke, will augment dealcoholization procedures to cater to the preferences of health-conscious consumers.
Adam Balon, the founder of JamJar, was excited to continue investing in Lucky Saint underscoring that there is big momentum behind the shift, as alcohol-free options increasingly become the first choice in pubs and hospitality.
The shift is led mainly by Generation Z, who seek zero-alcohol alternatives in social gatherings, motivated by health and wellness concerns associated with alcohol consumption
Boase echoed the words of Balon, noting over half of the UK wants to moderate their alcohol consumption and more people than ever before are looking for a great-tasting alcohol-free beer.
According to Statista, revenue in the UK’s non-alcoholic beer segment is projected to amount to US$409.10m in 2023 and is expected to grow annually by 11.15% (CAGR 2023-2025).
The investment comes alongside Lucky Saint’s second year as ‘The Official Beer of Dry January’ in partnership with Alcohol Change UK.
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