Agave Spirits and RTD Cocktails Dominate 2024 Hot Prospects List in Alcohol Industry

The latest Impact “Hot Prospects” list highlights the fastest-growing brands in the wine, spirits, and ready-to-drink (RTD) cocktail sectors for 2024. The annual recognition, compiled by Impact Databank, focuses on smaller brands that have shown strong and consistent growth. To qualify, brands must have achieved at least 15% growth in depletions for 2024 and demonstrated steady increases over the previous two years. Spirits and imported wines needed to fall between 50,000 and 200,000 cases, while domestic wines and RTDs ranged from 50,000 to 250,000 cases.

This year, 64 brands made the list across all categories. Among spirits, agave-based products led the field. Thirteen of the 26 honored spirits brands are Tequilas or mezcal imported from Mexico. This reflects the ongoing surge in consumer demand for agave spirits in the United States. Whiskey also performed well, with eight brands recognized across Bourbon, American whiskey, Scotch, and Moonshine. Vodka had two winners this year, while liqueur, soju, and non-alcoholic spirits each had one brand on the list.

The combined volume of this year’s Hot Prospect spirits class reached 2.34 million cases. On average, these brands grew by more than 50% last year. Notable spirits brands surpassing 90,000 cases include Soonhari soju from Gallo; 1792 Bourbon and Corazon Tequila from Sazerac; Lalo Tequila from Lalo Spirits; Absolut Vanilla Vodka from Pernod Ricard; Traveller Whiskey from Sazerac; Tequila Ocho from Heaven Hill; The Original Pickle Shot; Flecha Azul Tequila from WES Brands; and Campo Bravo Tequila from Milestone Brands.

The RTD category saw significant momentum as well. Ten RTD brands earned Hot Prospect status this year, collectively reaching 1.2 million cases and posting more than 600% growth over the past year. Most of these RTD winners are new to the market since 2022, showing how quickly this segment is evolving. Among RTDs with volumes above 90,000 cases are Smirnoff Smash Vodka Soda from Diageo; Gin & Juice from Defiant Ones; -196 from Suntory Global Spirits; Bulleit from Diageo; Betty Booze from Alps Beverages; and Sprinter Vodka Soda from Calabasas Beverage Co.

Industry analysts point to shifting consumer preferences as a key driver behind these trends. Agave spirits continue to attract attention for their versatility and premium positioning. Whiskey remains a staple among American drinkers but is also seeing innovation in flavor profiles and branding. The RTD sector’s explosive growth is attributed to convenience and a growing interest in lower-alcohol options that fit active lifestyles.

The Impact Hot Prospects list serves as an early indicator of which brands may become major players in the coming years. As consumer tastes evolve and new products enter the market at a rapid pace, industry observers will be watching closely to see which of these rising stars can sustain their momentum beyond 2024.