Home Business NewsBusinessBusiness Growth Jukes launches £800K investment round to target £21bn global alcohol alternative beverage market

Jukes launches £800K investment round to target £21bn global alcohol alternative beverage market

by LLB Finance Reporter
10th Nov 21 10:02 am

Jukes Cordialities, a range of sophisticated alcohol-free drinks, has launched a £800K investment round to help it scale up for further growth across key global markets. The company is also set to roll out a series of new products to complement its existing range as it aims to increase its share across the global alcohol alternative beverage market, forecast to be worth more than £21bn ($29bn) by 2026.

Jukes was launched by award-winning wine writer Matthew Jukes and co-founder Jack Hollihan to provide elegantly-flavoured super-premium adult drinks to consumers, especially to enhance their fine dining experience without alcohol. Jukes’ products are all low in calories and sugar, each created from several dozen all-natural ingredients.

Investment from the fundraise will go towards helping the company scale up its production capabilities, increase marketing and brand-building activity in key geographical areas and support further sales growth.

Jukes’ products are currently available in the UK through e-commerce and retail trade partners, including Fortnum & Mason, Selfridges and the Conran Shop. A new 250ml Sparkling Pinot Noir is also set to be launched in early 2022. Jukes drinks are also available at a number of leading UK Michelin-starred restaurants including, Core by Clare Smyth, Alain Ducasse at The Dorchester, and Dinner by Heston Blumenthal.

This past year, Jukes has grown its presence in the US through e-commerce channels. The investment funds will help support further growth in this market, where the company will also roll out a new 375ml ‘ready to pour’ format of its white, red and rosé drinks.

Jukes’ range is also available through distribution partnerships in the EU, Switzerland, Middle East, Australia, Hong Kong and now Japan.

Matthew Jukes, Jukes CEO and co-founder, said: “Our super-premium products are the first of their kind in the market, offering consumers an alcohol-free drink that is genuinely satisfying and palatable. As highlighted by the leading restaurants and retail partners who offer our range, our drinks are ideal for those who want to enjoy the high standards of taste and pleasure while dining, even when they are not indulging in alcohol.

“Through this investment round, we aim to grow our presence in key global markets further, especially here in the UK and across the US where we see a significant opportunity to increase sales. Our new offering of 375ml ‘ready to pour’ products has been specifically developed for the US market where there is high consumer demand for our offering.”

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