What will 2024 hold for buying trends in the beverage alcohol industry?
Alcohol delivery company Drizly surveyed 1,000 adults of legal drinking age to find out, asking about the drinks they plan to purchase most in 2024.
“Some of these categories are building on strong momentum from prior years, while others are making a resurgence after lagging sales,” Drizly said. “Though inflation softened the premiumization trend last year, demand for premium beverages isn’t going anywhere, and in certain categories, it’s growing.”
In its BevAlc Insights, Drizly highlighted the top five beverage alcohol trends for this year:
Beer Expected to Grow
Beer, particularly lager, is poised for growth, Boston-based Drizly said.
Beer tops the list of beverages survey respondents plan to keep consuming in the coming year, with 68% anticipating purchasing beer in 2024 compared with 67% in 2023.
“This is a potential reversal of the five-year trend on Drizly where beer share has been on the decline, dropping from 18% share of total sales in 2019 to 14% share in 2023.”
Fewer consumers anticipate buying hard seltzer.
Meanwhile, fewer consumers, 34% in 2024 versus 37% in 2023, anticipate buying hard seltzer.
“Hard seltzer’s share has been on the decline for the past two years,” says Liz Paquette, head of consumer insights at Drizly. “Part of this is driven by the rise in ready-to-drink (RTD) cocktails as well as renewed interest in light lager, which compete closely with the hard seltzer category.”
It’s also a reflection of the growth of mainstay beer subcategories such as light lager, which led the beer category in this year’s survey, Drizly said. More consumers, 43% versus 38% last year, plan to drink lager in 2024, more than any other beer subcategory.
The second-most popular choice was seasonal beer, up 35% from 34% in consumers’ purchasing plans. Stout also saw gains, up 3 percentage points from 2023 to 15%.
Premium Tequila Continues its Rise
Tequila has been one of the fastest-growing categories on Drizly over the past five years, but it has slowed in the past year. It stands at 19% of the liquor category in 2022 and 2023.
“However, in the past year reposado tequila has gained share over silver/blanco, pointing to growing interest in more premium tequila styles,” Drizly said.
More than 25% of consumers are looking for high-end tequilas to sip in 2024.
Of those planning to buy tequila in 2024, 19% anticipate spending $200 or more per bottle—second only to the $25 to $49 range, cited by 26% of tequila drinkers. By comparison, in 2023, tequilas priced at $100 or more per bottle accounted for 26% of all tequila sales on Drizly.
More than 25% of consumers are looking for high-end tequilas to sip in 2024, while 74% plan to mix the spirit into cocktails.
“We believe the trend of sipping tequila versus using it as a cocktail ingredient is one of the key drivers of this trend as more premium products are typically associated with this use case,” Paquette said. “Increased consumer knowledge of the category as well as role as gifts have also contributed to the trend.”
Open to New RTD Cocktails
Thirty-four percent of those surveyed, up from 32% in 2023, plan to buy ready-to-drink (RTD) cocktails in 2024—and most said they will try new brands.
Illustrating the category’s growing popularity, the number of RTD cocktail producers on Drizly surged 47% in the past year to more than 1,000. RTD cocktails have risen to 3% share of total sales on Drizly in 2023, passing hard seltzer at 2% share.
“In the beginning, the appeal of the category was a result of several attributes, including its correlation to the cocktail boom and the diversity of options,” Paquette said. “Many consumers also reached for RTDs because the category offered more ingredient transparency than competing categories like hard seltzer. As the category matures, it continues to expand the breadth of the offerings, with nearly every popular cocktail now available in a convenient, ready-to-enjoy format.”
According to Drizly’s survey, the top factors that entice consumers to try a new RTD cocktail brand include:
- A type of cocktail that I love (59%)
- A new type of cocktail I was curious to try (58%)
- A recommendation from friends or family (48%)
- Price point (46%)
- It’s made by a spirits company I am familiar with, like Jack Daniel’s or Jose Cuervo (45%)
Non-Alcohol Drinks Growing
The non-alcohol (NA) drinks trend, a category that has grown 62% year-over-year in 2023, isn’t slowing, Drizly said. Sixty-three percent of survey respondents reported that they have tried or intend to try zero-proof beverages in 2024, and a notable one-third specifically plan to drink mocktails.
“This coincides with the soaring growth we have seen in the non-alcoholic spirits category in particular in the past year,” Paquette said. “Share is up 167% in 2023 to date compared to 2022, making it among the fastest-growing subcategories on the platform.”
The majority, 57%, who anticipate drinking non-alcohol beverages in 2024 expect to do so while relaxing at home. They also plan to enjoy NA drinks at social events, when hosting friends and at outdoor activities.
Inflation’s Impact Lessening
Despite rising costs, 40% do not plan to change their drink-buying behaviors in 2024 due to inflation—up from 35% in 2023. Only 19% plan to buy less alcohol due to inflation, compared with 28% in 2023.
However, consumers are slightly more inclined to look for deals in 2024—up from 34% last year to 35% in 2024.
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