Capstone Partners：2025年美国饮料行业并购动态报告（英文版）

Anti-alcohol sentiment continued to gain momentum in 2024, challenging growth prospects for beer, wine, and spirits brands. Beer and Wine category sales volumes saw declines, falling 2.9% and 4.4% YOY, respectively, while Spirits volumes increased marginally (1.8%), according to NielsenIQ. 1 However, in the Alcohol space, Ready-to-Drink Spirits (RTDS) and Flavored Malt Beverages (FMB) provided growth. In Beer, FMBs and Non-Alcoholic Beer saw dollar sales increase 5.5% and 25.1% YOY, respectiv