Canned cocktails are making a splash. The boom in leisure moments out of doors and increased at-home consumption, together with the formulation of new recipes with spectacular results, are responsible for the exponential growth of ready-made cocktails.
With and without alcohol, a multitude of combinations for all tastes are shaking up the “Happy Hour” industry. Let’s take a look at how this “Ready To Drink (RTD) beverage category is evolving.
A few years ago, processes were more complicated, but the ready-made cocktail industry has taken a 180-degree turn, revolutionizing both the distilled beverage category and the new low-alcohol and alcohol-free modalities.
The truth is that currently, if we do a blind tasting, we probably won’t be able to tell the difference between a freshly made gin tonic or margarita or one in a can. Canned and bottled mixtures have successfully carved out a niche in the market and won over the palettes of an increasingly demanding consumer.
This trend is also proliferating as a new and attractive escape valve and means of continuity for the on-trade sector. Canned and ready-to-drink cocktails have been incorporated as yet another product available by home delivery. Now they are an option for which demand has expanded and which are enjoyed any time, especially due to the constant changes in the measures stipulated for the sector and consumption habits.
The boom in “canned cocktails”
Canned cocktails are experiencing a period of excellent health. Their rising trend shows no sign of slowing down.
So says the FactMR report, which despite the current adversities, forecasts very rosy results in the coming decade (2030). Their market is valued at $25 billion, and Europe is expected to account for approximately 40% of the market share, followed by other places like southern Asia and Oceania, both regions with very promising outlooks. No doubt, these data predict that the future of cocktails will represent a major opportunity for the drinks business.
Very competitive advantages
In such a competitive market, canned cocktails offer a series of advantages:
1. The format
Cans are lightweight, easily stacked, meet sustainability standards and, above all, preserve the liquid from any external agent, such as light.
2. New more natural and higher-quality formulas
On the other hand, new mixers are coming on the scene that have thrown off their reputation for being artificial, altered and sugary drinks or ones made with poor-quality ingredients. Now they come with very natural ingredients and flavours as finely wrought as those of freshly made cocktails. They’re made using natural juices combined with liquors and other elements like herbs (ginger or mint, among others).
3. They follow the convenience trends
Canned cocktails can be consumed at any time and any place, on the way to some place or at home with friends.
4. They fit all pocketbooks
That is to say, canned cocktails are within everyone’s reach, as their price is not very high, and they have the advantage that they’re served ready made.
5. Some cocktails are starting to become part of healthy trends
At the moment, a wave of products with no added sugars and based on very natural and healthy products is cresting.
6.They generate transparency
The label lists each and every one of the ingredients and, if they contain alcohol, the ABV is shown.
The hard liquor giants have also joined the canned cocktail trend. To cite a few more commercial versions, Bacardí Limited has relaunched its new line of RTD cocktails.
Other commercial launches like Absolut Canned Cocktails, from Pernod Ricard, are finding success through different classic cocktails that are low in calories, between 7-10% ABV and available in flavors like lime and cucumber, grapefruit and rosemary, raspberry and lemongrass.
The craft sector joins the ready-made cocktail league
The craft sector, interested in innovating and satisfying the needs of a new market niche willing to try and discover beverages, has not been indifferent to this new trend and is also launching its own pre-packaged mixers.
Miami Cocktail Company with its line of organic spritzes entices with its mango, peach, sangria, mimosa and margarita flavors, to which it adds a variety of ingredients, ranging from hibiscus to ginger.
Other companies, Rogue Spirits to name one, with extensive experience in making beer and seltzers, have also signed on to this adventure.