The Zero Proof, self-proclaimed as the leading online retailer, importer, and supplier of premium non-alcoholic wines, spirits, and cocktails, announced a Series A funding round of USD 1.8 million on January 30, 2024. Leading the round is Asahi Group Beverages & Innovation, the US venture arm of Asahi Group Holdings. The previous main investor, Overline, also participated, along with Springdale Ventures. The non-alcoholic alternatives market is booming - just in September 2023, Boisson, another non-alcoholic online order shop raised USD 5 million.
According to a press release, The Zero Proof plans to expand its sales team and broaden its beverage portfolio, including developing its own non-alcoholic spirits and wines. Recently, The Zero Proof launched the non-alcoholic wine label Saint Viviana.
In addition to its online shop, The Zero Proof distributes through partners like KeHE and LibDib, DSD Distributors, and other retailers in the USA. Besides sales, The Zero Proof acts as an exclusive importer of international top brands for non-alcoholic drinks like Gnista (Sweden), ISH (Denmark), and Oddbird (Sweden).
Citing figures from IWSR, the press release highlights that 42.5% of the US population of legal age either abstains from or consumes minimal alcohol, leading to a current domestic market for adult non-alcoholic beverages of over USD 1.8 billion. The US market for non-alcoholic beverages is rapidly growing, with IWSR forecasting the category to account for nearly 4% of the total alcohol volume in the top 10 global markets for non-alcoholic beverages by 2027. Growth in this category is largely driven by Millennials, 45% of whom are "occasion-switchers," consuming non-alcoholic beverages for certain events and alcoholic beverages for others.
The Zero Proof reported a 300% revenue growth in the fourth quarter of 2023 compared to 2022, and Dry January is expected to be another record month, the company announces.
