According to the research study, the global ready-to-drink cocktails market size will grow from USD 714.9 Million in 2020, to reach USD 1550.4 Million By 2028, with a CAGR of 12.1% during the forecast period of 2021-2028.
What Is (RTD) Ready To Drink Cocktails? How Big Is The Ready-To-Drink Cocktails Industry?
Ready-to-drink cocktails are a beverage that is sold in an assembled form that is equipped for consumption. One of the ready-to-drink cocktails is iced tea which is prepared using fruit juice and tea leaves. Also available are alcopops, which are processed by combining alcoholic beverages with soft drinks and fruit juices. The demand for ready-to-drink cocktails is increasing as there is a speedy rise in acceptance of flavored ready-to-drink cocktails. The sales of the ready-to-drink cocktails market will flourish as there is an increase in the consumption of a broad range of flavors like grape, ginger, lime, pineapple, cranberry, and vanilla.
The influence of covid-19 on ready-to-drink cocktails is positive worldwide, and its growth will continue to increase. The demand for nutritional ready-to-drink cocktails is growing, and many flavors of ready-to-drink cocktails are being introduced. Companies like calm drinks, coca-cola company and Starbucks are launching new ready-to-drink beverages in the market. Government resourcefulness in many countries is growing the demand for ready-to-drink beverages.
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Key Questions Answered In the Sample Report
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Top Manufacturers in the Ready-to-Drink Cocktails Market
Asahi Group Holdings Ltd.
Halewood Wines & Spirits
Manchester Drinks Company Ltd.
Shanghai Bacchus Liquor Co. LTD
Suntory Holdings Limited
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Ready To Drink Cocktails Market: Growth Factors
Ready-to-drink cocktails are the most incredible and have high comfort, like pouring the beverages and garnishing them. These drinks are more profitable in soft, casual dining and decrease the cost of making a drink. The ready-to-drink cocktails make the most of two critical directions: convenience and premiumization. The industry’s development is supported by these trends.
Increasing urbanization and rapid transformation in preferences and tastes of the youth population are influencing the sector’s growth to a noteworthy end. Further, the increasing importance of ethnic and innovative flavors, growing promotions, advertisements, and marketing by several retailers are impacting the industry’s growth. A substitute to conventional or hard liquors is ready-to-drink cocktails. Increasing probation of smartphones and growing mobile retailing is significantly fueling the online sales of ready-to-drink cocktails, thereby multiplying the market’s growth.
Global Ready-to-Drink Cocktails Market: Report Scope
Market Size 2020 Value
USD 714.9 Million
Market Outlook for 2028
USD 1550.4 Million
Expected CAGR Growth
CAGR 12.1% from 2021 – 2028
2021 – 2028
Top Market Players
Anheuser-Busch InBev, Asahi Group Holdings Ltd., Bacardi Limited, Biosint S.p.A., Brown-Forman, Diageo plc, Halewood Wines & Spirits, Manchester Drinks Company Ltd., Pernod Ricard, Shanghai Bacchus Liquor Co., LTD, Suntory Holdings Limited
By Type, By Packaging, By Distribution Channel, By Region
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
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Ready To Drink Cocktails Market: Key Segmentation
Insight by Type
In context to type, the ready-to-drink cocktail market has been divided into spirit-based cocktails, malt-based cocktails, and wine-based cocktails. The cocktails segment revenue that is spirit-based is anticipated to rise at an aggressive rate over the evaluated time frame. Due to their distinct taste, spirit-based cocktails are gaining momentum in the sector. These spirit-based commodities are contrived from vodka, tequila, rum, gin, and whiskey, pushing demand in the industry.
Insight by Packaging
From the packaging viewpoint, the industry for ready-to-drink cocktails has been dissected into cans and bottles. The bottle segments have caused the highest revenue share in the market and are forecasted to grow at an impressive CAGR during the given timeline. But the cans segment is also increasing by recording the highest CAGR. As compared to bottles, cans are highly compact and lighter. The piece is being developed by the growing trend for on-the-go packaging. Other cans segment is growing incredibly fast as they are permitted in public places like swimming pools and parks.
Insight by Distribution Channel
Dependent on the distribution channel, the segment for ready-to-drink cocktails is divided into online, supermarket, and liquor stores. The supermarket segment is surfacing as the biggest one due to the preference of the consumers in the one-stop shopping. Additionally, supermarkets have sufficiently deputed shelf space for ready-to-drink cocktails as these beverages have a negligible level of alcohol. The segment is forecasted to record revenue that is grand in the given period.
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Geographic Overview: Ready To Drink Cocktails Market
The region of Asia Pacific is predicted to appear as the speediest growing region with a high CAGR. The development of the regional market is ascribed to increasing demand for a broad spectrum of convenience products. The regional market is also flourishing because of the growing level of disposable income; the speedily altering lifestyle of a sizeable population is pushing towards the regional market’s growth.
Europe is estimated to appear as the most successful market for ready-to-drink alcoholic beverages, while the most lucrative market in the region is Germany. There is a leaning towards the ready-to-drink cocktails amongst millennials and scaling up the demand for health-conscious mass. Ready-to-drink cocktails because of alcohol content that is low are juxtaposed to stiff drinks that are causing the European market to expand, facilitating the region to become top position in the global market.
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The market is predominantly segmented based on type, packaging, distribution channel, region.
Ready To Drink Cocktails Market: By Type Outlook
Ready To Drink Cocktails Market: By Packaging Outlook
Ready To Drink Cocktails Market: By Distribution Channel Outlook
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