The booze business faces a post-pandemic hangover with US drinking rates at historical lows and underage drinking hitting all-time lows in 2025. Major groups including Diageo, Brown-Forman, Constellation Brands and Rémy Cointreau have swapped CEOs in 18 months.

However, Gen Z is reversing the trend: 74 per cent of legal-age Zoomers report drinking, up from 66 per cent three years ago. They prefer ready-to-drink (RTD) canned cocktails like Surfside's Peach Tea and Cutwater's Mango Margarita for low price, convenience and innovative flavours.

US RTD sales have surged at an 11 per cent combined annual growth rate since 2019, reaching $3.8bn last year from $489mn in 2020, now accounting for 8 per cent of total alcohol consumption. UK and European markets are following suit.

Affordability drives growth — a four-pack costs $13.50 versus $20-plus bar cocktails. RTDs also suit home socialising, "third spaces" and wellness trends like "zebra striping". Big spirits makers, late to the category, are now pivoting: Sazerac bought Buzz Ballz in 2024 and Diageo's new CEO prioritises canned cocktails.