Diving overview:
- Beverage giant Diageo sets sail captain morgan slice, a series of malt-based canned cocktails with an alcohol content of 5.8%. There are 4 types of Thai He’s: Pineapple Daiquiri, Strawberry Margarita, Passion Fruit Hurricane, and Mango Mai He. The new line marks the brand’s first foray into the malt alcohol space, according to the company.
- This month, the brand also launched another product, Captain Morgan Slice-Up, which comes in two flavors inspired by popular cocktails, Long Island Iced Tea and Tropical Hurricane. The products are available in 16-ounce and 23.5-ounce cans, according to a press release.
- The biggest alcohol manufacturers are working to meet demand for canned cocktails as young drinkers seek more variety in their drinks.
Dive Insight:
As the hard seltzer category has plateaued in the last two years after its initial boom, many beverage brands looking to capture a larger portion of the market are focusing on ready-to-drink cocktails. This space is expected to be worth $2.3 billion by 2030, growing at a compound annual growth rate of 14.3%. According to Vantage Market Research forecasts.
Laura Merritt, Diageo’s chief marketing officer, said in a statement that the company is seeking to disrupt the canned drinks category with its unique products.
“We didn’t just want to introduce another new canned beverage; we wanted to break out of the ordinary with a product that appeals to consumers’ sense of adventure,” Merritt said.
Captain Morgan Slice is the brand’s latest expansion in the ready-to-drink category, after collaborating with The Vita Coco Company to launch a premium rum-based canned cocktail last year.
Diageo is offering consumers a non-carbonated product with Captain Morgan Slices, a strategy that rival Molson Coors is leaning heavily into. The company plans to launch Happy Thursday, a series of carbonated-free spiked refreshers created using data from a panel of Gen Z consumers. Molson Coors says some younger drinkers prefer less carbonated drinks. Avoid bloating and burning sensations.
Soft drink giants are also hoping to cash in on the success of RTD canned cocktails. Coca-Cola has aggressively pursued this category with several products launched over the past two years. Coca-Cola and Jack Daniel’s cocktail created with Brown-Forman. and Sprite’s Absolut Vodka, launched in Europe last month in partnership with Pernod Ricard.
A long-time staple in the rum category, Captain Morgan has updated its lineup and revamped its portfolio in recent years. In 2021, the company launched three RTD premix cocktails in 1.75-liter bottles: Tropical Punch, Mai Tai, and Long Island Iced Tea. And last year, the brand updated the formula of its flagship product to include genuine Madagascan vanilla.
