Weekly Beverage Alcohol Recap | October 17, 2025

Market pulse: Bevalc dollars down, beer & wine weakest; spirits growth concentrated in RTDs; NA beer resilient; ABI steady share; Modelo cools. Moderation & value: Only ~54% of adults drink; shoppers gravitate to sub-$20 and trimmed craft lineups. RTDs surge: RTD share +420 bps YoY; Cutwater standout; core spirits soften on price/mix. THC beverages: Target MN pilot launches; Ohio pauses intoxicating hemp; CA channels intoxicating hemp to cannabis by 2028. Route-to-market: NBWA emphasizes distributor independence; SGWS–Provi settlement legitimizes digital ordering. Capacity pinch: Manna/NorCal plant auctions tighten co-packing; plan longer lead times. Wine stress: CA oversupply + Canada export collapse; producers cut price points and replant acreage. TWE transition: Expect promo noise and sporadic outages as inventory resets. People & deals: Duckhorn employee ownership; BrewDog cost actions; Westward sale; Napa asset trade. Policy watch: CA DtC spirits pilot for 2026; AL bailment fee +$0.28/case; IL craft license; MI tightening THC rules. Cognac supply: BNIC to remove 10–13.5k ha; potential for firmer US wholesale pricing.