From four existing products in arctic blue drinks product portfolio by the end of 2021, increasing the number counted in September 2022 is seven. To the existing product portfolio, three new products for different target groups were added and launched on the market. The latest being the ultra-premium Arctic Blue Legacy, launched on September 15th.
“As a company, we prioritize innovation, to study trends and invest in experimentation. By following market trends, I am happy to summarize that we have developed three new products for three fast-growing market segments, which has allowed us to have an even more diversified product portfolio,” says Valtteri EromaCEO of arctic blue drinks.
Looking back to 2022, the first new product the company launched in the market was their oat-based RTD – Hang Oat Vanilla. The RTD (ready to drink) market has grown tremendously globally and the global alcohol RTD market is estimated at US$36.42 billion in 2022, is expected to show a CARG of 11.2% over the forecast period 2022-2030. The novelty from the company Hang Oat Vanilla combines the taste of northern wilderness and pure Finnish water. It is the second oat product that arctic blue drinks launches on the market. The global dairy substitutes market has been valued at $22.25 billion in 2021. The market is expected to grow from $25.19 billion in 2022 at $61.43 billion by 2029. Hang Oat Vanilla is aimed at younger, conscious people, for whom sustainability is important. The product is packaged in a Tetra Pak carton and currently sold in Finland.
In June, Arctic Blue Rosé Gin Was launched. Arctic Blue Rosé Gin is the company’s entry-level product in the fast-growing flavored gin category. Flavored gin (including gin liqueurs) continues to drive growth for the gin category across Europe. Data from the IWSR reveals that flavored gin accounted for 18% of total gin volumes in 2020, with the sub-category posting a phenomenal CARG of around 140% between 2010 and 2020. Arctic Blue’s taste profile Rosé Gin is based on the multi-award winning Arctic Blue Gin with a hint of cinnamon rose petals in its fragrance and taste. The beautiful red color comes from Finnish wild blueberries. For the Company, the launch of Arctic Blue Rosé Gin was a great success and the new product quickly gained market share in both travel retail and the domestic market. In the total result of sales of travel retail, Arctic Blue Rosé Gin already accounts for 35% of turnover. In Finlandthe new product already accounts for 20% of the total sales result of all arctic blue drinks some products. Arctic Blue Rosé Gin is already sold abroad, listed on Systembolaget in stockholm and achieved general selection status at Alko, the nationwide beverage retail monopoly in Finland in just a few months.
The last product launch was on September 15. It was a very special launch since the rights to purchase the new ultra-premium Arctic Blue Legacy were distributed in the form of NFTs. NFT (non-fungible-token) functions as a digital certificate of ownership giving access to purchase rights and holder benefits. The product is a limited edition, aged 24 months in oak barrels. Arctic Blue Legacy Gin combines the unique and world famous glass design of Timo Sarpaneva with the internationally recognized professionalism of the master distiller Asko Ryynänen. The product belongs to the ultra-premium segment and is mainly aimed at the Asia-Pacific market.
As for the growth factors, premiumization is one of the most important factors driving the growth of the alcoholic beverages industry. The premium gin market size is expected to grow at a CARG of 8.19% from 2021 to 2028. Looking at the global gin market figures, Asia Pacific is considered the fastest growing geographic market, with a CARG of 5.4%.
During 2022, arctic blue drinks the latest products have won awards in major spirits competitions around the world. In San Francisco World Spirit Competition (SFWSC) Arctic Blue Legacy and Arctic Blue Rosé Gin received double gold. In Singapore World Spirits Competition (SFWSC) Arctic Blue Rosé Gin won his second consecutive double gold award and he was also awarded for being best in class. Hang Oat Vanilla received the silver medal from the prestigious IWSC (International Wine and Spirits Competition), in the RTD category.
Diversified product portfolio
arctic blue drinks product portfolio includes their best-known flagship product Arctic Blue Gin, its marine strength version Arctic Blue Gin Navy Strength, the world’s first innovative oat liqueur based on Arctic Blue Oat gin, Arctic Blue Tonic, Arctic Blue Rosé GinHang Oat Vanilla and Arctic Blue Legacy.