Holiday sales delivered a short-term lift, but total U.S. alcohol demand remains down ~5–6% YoY across beer, wine, and spirits

RTDs and prepared cocktails remain the clear growth engine, growing dollars despite softer volumes

Beer declines continue, but super-premium, import, and non-alcoholic segments are gaining share

Spirits face mounting pressure outside of RTDs, with visible financial stress among smaller operators

Wholesaler inventories remain elevated, driving tighter SKU discipline and cautious buying into 2026

Supplier distribution strategies are shifting toward regional and mid-tier partners for better execution

Health-and-wellness narratives, moderation, and substitution (NA beer, THC beverages) are now structural demand factors

Wine demand is increasingly bifurcated, with growth concentrated in imports and sparkling wines