Credit Suisse Expects Normalized Spirits Trends, Reduced Consumption in ’23

Dear Client:  The US spirits industry has seen some pretty strong growth rates over the last few years. Credit Suisse expects the industry to continue to grow in 2023, but at a lower rate, estimating a 5% growth in value and about 1.5% growth in volumes, per a recent note. That growth estimate is in line with the long-term average. Credit Suisse analyst Sanjeet Aujla sums up US spirits industry growth over the last few years nicely: In 2020 and 2021,