Companies from Coca-Cola to Anheuser-Busch are getting in on the canned cocktail market. Here's why

Market Overview - Canned cocktails are experiencing significant growth, with Americans consuming over 62 million cases in 2023, marking an increase of nearly 25% from 2022, making it the second-largest spirit category by volume after vodka [1] - From 2021 to 2023, malt-based drinks saw an 8% decline in market share, while spirits-based drinks grew by 8% [3] Competitive Landscape - The U.S. ready-to-drink spirits market is dominated by three brands, with High Noon being the largest, owned by Gallo, followed by Cutwater and Nutrl, both owned by Anheuser Busch InBev [4] - Despite the growth in the beyond-beer segment, which includes both malt- and spirits-based beverages, it represents less than 5% of U.S. sales for AB InBev and about 7% for Molson Coors [5] Industry Trends - The market has seen an oversaturation of new brands and flavors, leading to consumer confusion and a pullback in engagement with malt-based drinks [2] - Coca-Cola is entering the alcoholic beverage market, partnering with Brown-Forman's Jack Daniels to create a canned version of a classic cocktail, indicating a broader interest in the spirits industry beyond traditional players [6]