Learn how Molson Coors is expanding beers in Canada--Should other breweries follow suit?
Are you a beer drinker? Whether you work in the industry or enjoy an ice cold brew after heading up a grueling business meeting, you may find it interesting to learn how and why Molson Coors is planning to expand its portfolio of craft and flavored beers in Canada. After all, if you happen to be in the beer trade, then you may find the following information to be particularly satisfying. Take a look!
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What does this new expansion mean?
When it comes to choosing a specific type of alcohol, the options are pretty limitless. However, in an attempt to counterbalance recent struggles Molson Coors is experiencing with their core brands, even more choices will be coming. Specifically, the brewery hopes to expand their clientele by offering new craft and flavored beers.
Originally reported by CBC News, CEO of Molson Coors Mark Hunter commented with the following:
“The challenge for the beer industry is to make sure beer remains interesting, relevant, contemporary—and whether that’s traditional beers with traditional flavor profiles or new beers with new interesting flavor profiles, that’s our job.
While Molson Coors is the world’s fifth-largest brewer, the company clearly understands the importance of change and the idea of keeping current clients happy; however, they also know that in order to stay successful, you must also try to appeal to new clients.
Molson Coors plans on importing some of its international microbrewery beer brands to Canada, such as Britain’s Sharp’s and Worthington. And though the competition in the craft beer industry is thick, Molson Coors still sees plenty of opportunities for growth.
“We have significant opportunity to gain market share in the growing craft segment by introducing new and innovative local brands and offerings,” Hunter said in an email to CBC News.
Interestingly enough, craft beers have been the fastest growing beer category in the country—expanding some 10 per cent annually. But just because beer remains to be the most popular alcoholic beverage in North America, consumers still want to have plenty of options.
Molson Coors Chairman Geoff Molson commented with the following statement: “This evolution requires that we continually reinvent ourselves. We have no choice but to be innovative if we want to remain leaders.
To find out what’s going on with other breweries around the world, make sure to visit our sister brand Food Drink & Franchise.
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