Jägermeister sales surge in 2023, driving global growth amid challenges
Despite some challenges, last year was the second-most-successful in Mast-Jägermeister SE's history
In the fiscal year 2023, family-owned German spirits manufacturer Mast-Jägermeister SE reported an 8.1% increase in sales, reaching EUR 961.7 million (US$1031.57 million), excluding spirits tax. A key factor in this growth was the sale of 9.2 million 9-liter cases of Jägermeister, making it the second-most-successful year in the company’s history, just slightly behind sales in 2022, which was an exceptional year following the pandemic.
Jägermeister, the flagship brand for the company, is distributed in over 150 countries, with exports accounting for over 80% of sales. Additionally, the company has seen significant success with its premium tequila brand, Teremana, in North America, where sales surged by 36% to 1.25 million 9-liter cases in 2023.
Over the past year, the spirits industry has faced challenges including political and economic instability, which affected consumer confidence and led to cautious purchasing behavior worldwide. Despite these challenges, Jägermeister managed to grow in some regions, particularly in Western and Eastern Europe and Asia, while maintaining stable sales in the UK and Germany. The US market, however, experienced a downturn. The brand saw significant growth in China and continued its upward trajectory in global travel retail, with double-digit revenue growth.
New investments include a bottling line for miniature bottles in Wolfenbüttel-Linden and a barrel storage facility in Kamenz, Saxony, designed to be CO2-neutral and house up to 225 oak barrels
Investing wisely
Mast-Jägermeister SE has been investing in expanding its supply chain and production capacities, including a new bottling line for miniature bottles in Wolfenbüttel-Linden and a barrel storage facility in Kamenz, Saxony, designed to be CO2-neutral and house up to 225 oak barrels.
The company has also supported the nightlife community through initiatives like #SAVETHENIGHT, which included backing for the Emmy Award-winning “Lesbian Bar Project” in the US, among other international projects.
New markets
Teremana’s rapid growth in the US has led to plans for its introduction in duty free outlets at international airports and subsequent launches in Germany and other markets. A second distillery in Jalisco, Mexico, has been opened to meet the increasing demand for this premium tequila. In the US, the brand launched its Mana Holiday House program, a comprehensive marketing activation.
Portfolio expansions including tequila Teremana, craft gin brand GIN SUL and GIN SUL Laranjal have helped bring about the strong single-digit sales growth seen in 2023
Since acquiring the craft gin brand GIN SUL in 2018, Mast-Jägermeister has tripled production capacity to support its regional expansion and launched GIN SUL Laranjal, a new addition to its portfolio, in the German market.
Eyes on the future
Looking forward, CEO Michael Volke said: “We are cautiously optimistic about achieving a stable, high result with our core brand Jägermeister, even amidst the fragility of the consumer climate in many markets.”
Volke aims not only to sustain Teremana’s remarkably dynamic growth in the US market but also to export this success to other markets. He stated: “We have accumulated significant expertise in internationalizing a premium spirit with Jägermeister. Now, we will leverage that knowledge to successfully introduce Teremana into new markets worldwide.”
