This summer’s hottest cocktail comes in a can.
Between 2019 and 2020, the premixed cocktail category grew by 50% in the United States, according to industry tracker IWSR. The segment is still relatively small, accounting for only 3% of U.S. spirits volume, based on data from the Distilled Spirits Council of the United States. But companies and industry experts expect huge growth after its pandemic boom. Bank of America Securities is forecasting that the category will reach $3 billion to $4 billion in revenue over the next few years.
The rise of hard seltzer has fueled the growing popularity of canned cocktails. Ready-to-drink vodka sodas or gin and tonics appealed to consumers looking for…