Ready To Drink Cocktails Market Size to grow by USD 2205.51 million between 2024-2028
According to a research report “ Ready To Drink Cocktails Market” by Distribution Channel (Hypermarkets or supermarkets, Online, Liquor stores) Type (Spirit based, Wine based, Malt based) Geography (North America, Europe, APAC, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 2205.51 million, at a CAGR of 12.54% during the forecast period. The global ready-to-drink cocktails market has experienced a significant surge in strategic collaborations among vendors. Major players have been partnering with smaller, local brands to expand their geographic reach and product offerings. Factors such as increasing consumption of RTD cocktails, low-interest rates, and alliances between distributors and production facilities have fueled this trend. Successful collaborations enable companies to broaden their consumer base and strengthen their market positions. Notable collaborations in the ready-to-drink cocktails market include Coca-Cola's global partnership with Pernod Ricard, resulting in the launch of a pre-mixed cocktail featuring Absolut Vodka and Sprite.
Browse market data tables, figures, and in-depth TOC on “Ready To Drink Cocktails Market” by Distribution Channel (Hypermarkets or supermarkets, Online, Liquor stores) Type (Spirit based, Wine based, Malt based) Geography (North America, Europe, APAC, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample
By Distribution Channel, the Hypermarkets or supermarkets segment is projected to dominate the market size in 2024
The global Ready To Drink (RTD) cocktails market encompasses a diverse range of spirits, with distilled liquors, or distilled spirits, representing a significant segment. Obtained through the distillation process of fermented fruit or plant juices, these spirits contain approximately 5% alcohol by volume. Notable varieties include gin, rum, tequila, whiskey, scotch, cognac, brandy, and others. The health-conscious consumer demographic is increasingly drawn to spirits due to their lower calorie content compared to beers and other alcoholic beverages. Among spirits, vodka and negronis are experiencing heightened demand in the RTD category. The market trend towards premiumization and the convenience offered by RTD products presents lucrative opportunities for the adoption of international spirits, particularly vodka and gin, among consumers.
By Type, Spirit based segment is expected to hold the largest market size for the year 2024
In the dynamic ready to drink cocktails market, hypermarkets and supermarkets emerge as preferred retail channels for consumers. These retail giants, such as Walmart Inc. and Target Corp. in the US, provide a vast selection of brands and stock-keeping units (SKUs) at competitive prices. The convenience factor, extensive SKUs, and wide brand variety are key considerations for consumers when purchasing RTD cocktails from these outlets. The growing trend of hectic lifestyles and busy schedules has led to an increasing preference for convenient on-the-go packaging of RTD cocktails. As a result, the hypermarket and supermarket segment is anticipated to maintain its dominance in the global ready to drink cocktails market during the forecast period.
North America is forecasted to hold the largest market size by region in 2024
The North American region leads the global ready-to-drink (RTD) cocktails market, driven by the region's highest alcohol consumption rate. In 2021, RTD cocktail sales surged by 39% due to increased consumer spending on premium spirits during COVID-19 lockdowns, fueling at-home consumption. Key players, including Brown Forman, Crook & Marker, and Boston Beer, bolster market growth in the region. The US market benefits from rising per-capita alcohol expenditure and a declining excise tax on alcohol. Furthermore, the popularity of low-alcoholic, flavored RTD cocktails has led to increased consumption and spending on alcohol in recent years.
The Ready To Drink Cocktails Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The Ready-to-Drink Cocktails market has seen a significant surge in demand due to consumer lifestyle choices prioritizing convenience and health consciousness. This market includes alcoholic beverages in tetra packs, boxes, and cans, such as RTD cocktails, beer, and gluten-free beverages like White Claw. Health-conscious consumers are increasingly opting for keto-friendly, natural, and low-calorie options, leading to the popularity of spirit-based cocktails in metal cans. Alcohol-related health problems have led many to seek alternatives with lower alcohol content. Brands are responding by offering a wide range of flavors and options, including vodka, gin, and tequila, in various package sizes. E-commerce platforms have made it easier than ever to access these beverages, allowing consumers to shop from the comfort of their homes. As consumers become more health-conscious, they are paying closer attention to the nutritional information of their drinks, including carbohydrates and calories. Many RTD cocktails are now labeled as gluten-free, organic, and low in calories, catering to this growing demand. Overall, the Ready-to-Drink Cocktails market is expected to continue growing as consumers seek convenient, healthier alternatives to traditional alcoholic beverages.
Market Research Overview
The Ready-to-Drink (RTD) cocktails market is experiencing a surge in popularity, with consumers increasingly opting for convenience and variety in their alcoholic beverage choices. This market includes a wide range of products, from premix cocktails in tetra packs and boxes to hard seltzers and wine spritzers in cans and bottles. Online stores, foodservices, household consumers, liquor stores, and even wine shops and convenience stores are stocking up on these RTD cocktails, which come in various flavors like cranberry, mango, lemon, passionfruit, and grapefruit. Brewing giants and liquor companies are jumping on the bandwagon, offering malt-based and spirit-based cocktails in aluminum cans and glass bottles. Alcopops, Goon Bags, and wine-based cocktails are also gaining traction, with health-conscious consumers drawn to the low alcohol content and natural, organic, and keto-friendly options. Social media ads are a popular marketing tool for these products, highlighting their health advantages and flavors. However, the aluminum shortage has led to a shift towards bottle packaging for some brands. Despite the health benefits, it's essential to note that excessive consumption of alcoholic beverages can lead to alcohol-related health problems. RTD cocktails come in various sizes, from single-serve to larger bottles and boxes, and it's crucial to be mindful of the calories, carbohydrates, and alcohol by volume in these beverages. Some popular brands include White Claw, Corona Refresca, and Truly Hard Seltzer. Overall, the RTD cocktails market is a diverse and evolving one, catering to various consumer preferences and lifestyles.
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