2026 Beer Market Report: Declines impact FMBs, hard seltzer's performance

"FMB's and hard malt-based seltzer together declined in the 6% to 7% range in 2025 as RTDs continue to capture a greater share of the alternative adult beverage market. According to Chicago-based Circana, FMB sales totaled $4.6 billion, a decrease of 3.6%, in total U.S. multi-outlets, grocery, drug, mass merchandisers, convenience, military, and select club and dollar retailers for the 52 weeks ending Dec. 28, 2025."

"While FMBs were down 3.6%, we saw growth in top brands Smirnoff (plus 3.1%), Mike's Harder ([plus] 0.2%), and Cayman Jack (plus 6.5%). Hard seltzers were down 4.2%, but we saw some growth in top brands White Claw Hard Seltzers (plus 0.8%) and Happy Dad Hard Seltzers (plus 17.3%)."

"Hard seltzer declines moderated throughout the year as White Claw stabilized and began to grow again at the end of 2025. Other FMB segments remained under pressure as sp"

The flavored malt beverage (FMB) market and beer-centric hard seltzer segment experienced significant declines in 2025. FMB sales dropped 3.6% to $4.6 billion with case sales down 5.9%, while hard seltzers declined 4.2% to $3 billion with case sales down 6.9%. Ready-to-drink alternatives captured greater market share from these segments. However, category leaders demonstrated resilience: Smirnoff, Mike's Harder, and Cayman Jack grew within FMBs, while White Claw and Happy Dad showed growth in hard seltzers. White Claw's stabilization and renewed growth toward year-end provided optimism for the hard seltzer category, though FMBs remained under broader pressure.

Read at Bevindustry