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Thursday, August 12, 2021

Ready-To-Drink Category Looks to Premiumization to Drive Innovation

Volume 364 | August 12, 2021
Ready-To-Drink Category Looks to Premiumization to Drive Innovation

As the RTD category continues its rapid growth, premiumization is expected to play a key role in future innovation for the category. While products with a malt or neutral fermented sugar base accounted for 57% of newly launched RTDs in the U.S. in 2020, recently launched spirits- and wine-based RTDs grew to account for 31% and 9% respectively, according to a report from IWSR.

The data also showed that across 10 core markets (Australia, Brazil, Canada, China, Japan, Mexico, Spain, South Africa, the U.K. and the U.S.), RTDs are overwhelmingly driven by spirits-based products in all countries outside of the U.S., suggesting there may be more room for growth of premium RTDs in the country. These spirits-based products tend to be expressions of full-strength cocktails.

“Today’s consumer not only seeks out convenience but also quality, resulting in opportunities for trade-up alternatives for RTDs," said Brandy Rand, COO Americas at IWSR. "Something which is yet to be fully realized.”

Further reading: IWSR
MEET THE BAR CONVENT BROOKLYN SPEAKERS

Park Street Companies is pleased to announce its return to Bar Convent Brooklyn to host Park Street University: Seminars for Drinks Entrepreneurs.

This panel features founders in the RTD space who have found early success navigating the new normal, as the look to share their approach to brand building and how they are planning for the future of the category.

Remixing RTDs: How to Produce Prepackaged Popularity
Wednesday, August 18 at 2:30pm

Lawrence Cisneros, CEO, Drnxmyth
Zack Lister, CEO, Bodega Brands
Amanda Victoria, Co-Founder & CEO, Siponey

More Resources From Park Street University


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