The Explosive Growth of Ready-To–Drink Spirit-Based Cocktails
Despite beer dominating the overall category in the Provi marketplace, ready-to-drink spirit-based cocktails continue to grow at an exponential rate thanks to increased visibility and heavy consumer adoption, cutting into beer’s overall market potential. The versatility and variety in RTD flavors appeal to more consumers than beer — especially among Gen Z and Millennials — piquing consumer interest in those just entering the beverage alcohol market.
Mike Williamson, General Manager, Four Corners Hospitality
Even as some larger brands have opted to pull out of the highly concentrated hard seltzer market, the spirit-based category — and its race-to-the-top winners — are here to stay. Let’s look at the state of spirit-based RTD products in the Provi marketplace in 2022.
“As the industry bounces back from the pandemic, it must be mindful of how to optimize operations while meeting evolving consumer demand for new and different products. Integrating ready-to-drink and canned cocktails into our bar programs enables us to serve our customers tasteful drinks efficiently, especially at high-volume bars.”
Percentage of Spirit-Based RTD Buyers by License Type
10 Top-Selling Spirit-Based RTD Cocktails
(By market share [GMV] YTD)
10 Fastest-Growing Spirit-Based RTD Cocktails
(By combined % increase in no. of buyers, orders per buyer and GMV per order)
Award for Biggest Growth
(By YoY market share growth)
