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Diving overview:
- boston beer is True Tequila Soda now available nationwide, the latest product line from the hard seltzer brand. The beverage contains premium tequila blanco, real fruit juice and sparkling water, the company said.
- The very tequila soda comes in four flavors: lime, grapefruit, watermelon, and pineapple guava. Alcohol content is 5% and 110 calories per can. The national launch took place last year after testing the product in select regions.
- The product launch comes as Truly and other hard seltzer brands are struggling as more consumers seek out other RTD alcohol products and leave the once-popular category.
Dive Insight:
Boston Beer hopes this tequila-based drink will be a new path for the Truly brand.
In its February earnings report, the company cited its hard seltzer brand as the main reason for a 12% drop in revenue last quarter. But Boston Beer highlighted Truly Vodka Soda’s growth as a promising sign for the brand. This may indicate consumer interest beyond traditional malt-based seltzers.
“We are reinventing the new Truly brand to represent light refreshment and bolder flavors, and are shifting the mix in that direction. This will take patience and time, but our efforts We’re seeing progress,” Boston Beer’s outgoing CEO David Barwick told analysts. Recent financial results announcement. “These innovations will better position the Truly brand offering and better prepare us for continuous improvement trends in 2024.”
Last year, Boston Beer said it was evolving into the very “post-hype era” of hard seltzers with a brand refresh. Truly has redesigned its product packaging to increase its real juice content. Truly Vodka Seltzer relaunched as Truly Vodka Soda.
The launch of Truly Tequila Soda comes after other alcohol makers in the carbonated beverage category have adopted agave-based liquors by incorporating them into their beverages. Boston Beer previously launched the South Agave Cocktail in 2021 in collaboration with Beam Suntory.
White Claw, a leading brand in the hard seltzer category, has also recently appeared Introduced new tequila-based products In Canada. Like Truly’s new products, White Claw Tequila Smash contains 5% ABV and real fruit juice.that Now available at some liquor stores in the US It’s been a few weeks now, but no announcement has yet been made regarding a national launch. Seltzer brand “High Noon” Launch of tequila seltzer It will be available in four flavors in 2023.
The tequila cocktail market is projected to reach a value of $13.2 billion by 2030, increasing at a compound annual growth rate of 5.9%. According to Virtue Market Research.
