Alcoholic Beverage Industry Is Focusing On Sustainability

Despite this ongoing pandemic, the alcoholic beverage industry has reached $515.2 billion in 2021. The report also says that in 2023 this will reach up to $647.7 billion. With this growth in the market, alcohol beverages brands have also secured their place by promoting sustainability in their products as some of the other companies in the market is promoting green strategies and initiatives. Pernod Ricard India is the name of the company that has taken up sustainability as the main theme of their company.  

The growth in the alcohol market is largely based on its increasing demand in the global young adults. There is also a demand for premium alcoholic beverage products which has contributed to its growth in the market. Younger consumers and millennials have declared their demand for innovative and high-end products. Because of this demand, the alcohol industry is making innovations and launches in vodka, gin, rum, and whiskey to brandy, beer, wine, and cider.

But in recent years all the industries in the world are willing to be sustainable, along with the alcoholic beverage industry. Sustainability means using natural resources like energy, materials, fuels, land and water with more efficiency so that our future generation can also have them. Nowadays environmental sustainability has become an important part of corporate social responsibility.

This environmental sustainability also makes good business sense. Pernod Ricard India Foundation has engaged 108,000 members of the agri- community to help them with their water issues which will develop their livelihood. The group is helping farmers about how to manage water consumption in agriculture and they are also experimenting with laser land levelling, which has reduced 40% of water usage in agriculture.

Pernod Ricard India has also taken up other projects such as by the year 2030, they aim to replenish 100 per cent water consumption from production sites.