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.”
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