Surging demand for low alcohol-based flavored drinks owing to the rising health-conscious population is driving the market.
Market Size – USD 728.53 Million in 2020, Market Growth – at a CAGR of 12.1%, Market Trends –Rising social events and pool side parties
The global Ready To Drink Cocktails market has been foreseen to register worth USD 1.82 Billion in 2028, delivering a CAGR of 12.1% throughout the estimated timeframe. A RTD or ready to drink alcoholic beverage is mainly a prepared or pre-mixed and packaged form of cocktail consumed directly. Available in all types of spirits including vodka, rum, and whiskey, an exponential rise in RTD cocktails’ sales has been observed in recent years. Growing consumers preference in flavored beverages, and elevating need for reduced alcohol content beverages due to rising health issues are propelling the industry’s development. Furthermore, increasing advertisements in alcoholic beverages and promotion by various retailers are further impacting the sector expansion. RTD cocktails are considered as a perfect substitute to traditional and hard liquors.
Major vendors operating in the industry for ready to drink cocktails include Halewood Wines & Spirits, Pernod Ricard, Manchester Drinks, Asahi Group Holdings, Ltd., Simple Skiff Beverages, LLC., Brown-Forman, Diageo, Shanghai Bacchus Liquor Co., Ltd., Bacardi Ltd., and Suntory Holdings Ltd.
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Additionally, escalating need for convenient alcoholic beverages such as alcopops and ready-to-drink (RTD) cocktails, and reducing time spent at bars, clubs, and restaurants are also encouraging the industry growth. Although, several cultural beliefs across regions, huge taxation, and campaigns in non-alcohol consumption may impede the sector growth.
The COVID-19 Impact:
The pandemic outbreak has been impacting the food and beverages sector negatively, due to the sudden changes and shutdown of manufacturing facilities. Curbing the global spread of SARS-CoV-2 among the medical professionals and considerable population, industry manufacturers are also trying to focus on curbing further losses, accelerating their product development and fostering supply chains.
For the purpose of this report, Reports and Data has segmented the global ready to drink cocktails market on the basis of product type, packaging, distribution channel, and region:
Product Type Outlook (Revenue, USD Billion, 2020 – 2028)
Packaging Outlook (Revenue, USD Billion, 2020 – 2028)
Distribution Channel Outlook (Revenue, USD Billion, 2020 – 2028)
- Liquor Stores
Regional Outlook (Revenue, USD Billion, 2020 – 2028)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa (MEA)
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Further key findings in the report
- On the basis of type, the segment of spirit-based cocktails accounted for the largest market possession and is projected to register a stellar CAGR over the forecast timeline. This segment is expanding owing to their distinct taste. Spirit-based beverages are mostly prepared by mixing vodka, tequila, whiskey, gin, and rum. The gin and tequila-based beverages are getting popular.
- Based on packaging, the bottles segment accounted for the highest market possession in the sector. The cans segment is gaining demand in the industry, occupying the fastest CAGR during the projection period. The segment is growing due to the increasing need for easy-to-carry packaging. Furthermore, cans are lighter and allowed in public places such as pool side and parks.
- In terms of distribution channels, the supermarkets/hypermarkets segment is growing at a fast pace in the sector due to having shelf space designated for RTD cocktails.
- Based on region, Asia Pacific has been emerging as the fastest-growing regional market in the forecasted timeline owing to the growing need for various convenience products in many countries. Moreover, high preference towards the western culture is further contributing to the region’s growth.
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Table of Content:
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. Repots and Data’s Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segmental Outlook
2.3. Competitive Insights
Chapter 3. RTD Cocktails Market Variables, Trends & Scope
3.1. Market Introduction
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Sales/Retail Channel Analysis
3.3.2. Profit Margin Analysis
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