Wine & Spirits Wholesalers of America (WSWA) released the SipSource 2025 Q2 Report in August, offering a look at U.S. spirits depletion trends through the first half of the year. Demand remained soft across categories in the first half of the year, with Spirits falling -6% in volume and -5% in revenue. On a rolling 12-month basis, Spirits dropped a more modest but significant -4.1% and -3.8%, respectively, in volume/revenue trends, and Wine is down -7.2% and -6.6% in volume/revenue trends. While overall spirits performance remains negative, Tequila/Agave Spirits remain a bright spot, up +1.1% in volume and +0.7% in revenue in the latest 12-month rolling data. According to NIQ data, during the first six months of 2025, the total RTD category is up +1.7% in revenue but down -3.2% in volume. While overall growth is slowing, spirits-based RTDs were up +19.6%, with wine-based up +12.4% and malt-based down -0.8%.