By Josh Jacobs
Co-Founder and CEO, Speakeasy Co.
As I am sure you are already aware, Ready to Drink Beverages (better known as RTD’s) are quickly becoming the go-to drink format for this upcoming summer season, as briefly outlined in one of our most recent blog posts. As venues and cities start to open up nationwide, people will be looking at convenience and ease of use when purchasing beverages, which is one facet as to why this beverage category is continuing to boom at a rapid pace.
With the rise of ready to drink and to-go cocktails and the increased popularity of pre-mixed drink options, enjoying a refreshing and delicious drink at home or on the beach is now easier than ever.
With life normalizing again, people are also ready to enjoy the summer and spend more money on Ready to Drink beverages, more specifically canned cocktails, which has just been coined as the “it” drink of the summer via CBS Sunday Morning on a recent episode.
According to factmr.com, the canned cocktail market will have a valuation of over US$ 25 billion in 2020 and is foreseen to expand at a CAGR of over 20% during the forecast period of 2020-2030. Millennial customers are also more apt to be adventurous in trying new bold and unique flavors in the ready to drink market.
Speakeasy Co. is thrilled to have 30 RTD brands currently utilizing our platform, some of which being canned cocktails in particular, including VOCO Vodka & Soda, Cocktail Squad, Candid Cocktails and Hecho Tequila Soda.
Sources:
- Chances are high you will see an RTD this Memorial Day Weekend, posted on Speakeasy Co. Blog - Industry Resources
- Canned cocktails could be the drink of summer with consumer demand bubbling up posted on Facebook by CBS News
- Canned Cocktails Market posted on Factmr.com
- What Are RTD Cocktails? By Erin Del Conte, posted on CStoreDecisions.com
