ALEXANDRIA, Va.—Arnold Palmer Spiked will expand its portfolio of spiked offerings with the release of Arnold Palmer Spiked Raspberry Half & Half, Molson Coors announced.
Arriving just in time for spring, Arnold Palmer Spiked Raspberry Half & Half joins the growing portfolio of Arnold Palmer Spiked brands, including traditional Arnold Palmer Spiked Half & Half and Arnold Palmer Spiked Lite Half & Half.
"The hard tea market is booming, and consumers are looking for fresh innovations from the brands they already know and love," said Joy Ghosh, vice president, above premium beer and RTD, Molson Coors Beverage Company.
Since launching in 2018, Arnold Palmer Spiked has continued to grow year over year according to IRI Barrel Sales, and the U.S. hard tea market has grown by double digits since 2018.
In addition, Molson Coors is adding Simply Spiked Peach to its lineup. The new beverage builds on the success of Simply Spiked Lemonade, which has sold 3.5 million cases since it launched a year ago. “Peach is proving to be the hottest flavor of the moment, as supported by a combination of growth potential, consumer appeal and category indicators. In fact, peach flavor growth is predicted to outperform 90% of all other food and beverage ingredients over the next four years, experiencing a 137% 4-year peach-flavored TAB growth in dollar sales,” the company said in a press release.
Prepared and RTD cocktail sales in convenience increased from $206.1 million in the first half of 2021 to $280.5 million in the first half of 2022, a gain of 36.1%.