Pune India , Feb. 13, 2023 (GLOBE NEWSWIRE) -- Ready-to-Drink Cocktails Market Size By Packaging (Cans and Bottles), By Type (Malt-Based, Spirit-Based and Wine-Based), Distribution Channel (Online, Supermarkets/Hypermarkets, and Liquor Stores), Regions, Segmentation, and forecast till 2030.
The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the ready-to-drink cocktails market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the ready-to-drink cocktails market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as packaging, type, distribution channel, and regions. The key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the paragraphs below.
The significant players operating in the global ready-to-eat-drink cocktails market are Diageo plc, Manchester Drinks Company Ltd., Brown-Forman, Bacardi Limited, Asahi Group Holdings, Ltd., Anheuser-Busch InBev, Halewood Wines & Spirits, SHANGHAI BACCHUS LIQUOR CO., LTD., PernodRicard, Suntory Holdings Limited among others. To achieve a substantial market share in the worldwide tissue towel market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Cocktails that are ready-to-drink are packaged in cans, bottles, or plastic pouches and can be consumed right out of the container. A Ready-To-Drink Cocktail is a drink mixer for cocktail parties, it helps you mix your favourite drinks using different flavourings before and after the party. When hosting an event that includes alcohol, it is crucial that the host knows how much alcohol was consumed in order to avoid any kind of excessive consumption or intake, which might result in misbehaviour among guests and even violate driving laws. Since the pandemic, a lot of consumers have changed their buying habits and switched to online shopping to avoid being infected. As brick-and-mortar retailers begin to realize how important it is to develop an e-commerce strategy in order to reach more consumers, they have begun to turn to online ordering and delivery platforms as a means to reach more consumers. The material fact that ready-to-drink cocktails have low alcohol content is often overlooked by consumers, however. As a result of this ignorance and a lack of proper messaging by the market players about the composition and benefits of ready-to-drink cocktails, the market growth might be hampered. It can be aggravated further if you follow the principles of some religions around the world that equate alcohol consumption with sin.
Scope of Ready-to-Drink Cocktails Market Report:
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Packaging, Type, Distribution Channel, and Regions. |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | Diageo plc, Manchester Drinks Company Ltd., Brown-Forman, Bacardi Limited, Asahi Group Holdings, Ltd., Anheuser-Busch InBev, Halewood Wines & Spirits, SHANGHAI BACCHUS LIQUOR CO., LTD., PernodRicard, Suntory Holdings Limited among others |
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Segmentation Analysis
Bottles are expected to be the fastest-growing segment in 2022.
The packaging segment includes cans and bottles. The bottles segment is expected to witness the highest growth rate during the forecast period. With a revenue share of over 55.0% in 2021, the bottles segment dominated the ready-to-drink cocktail market. In the beginning, the ready-to-drink cocktails concept was introduced in bottle packaging and became widely popular. Due to its close resemblance to beer, packaging was done in glass bottles. Additionally, glass bottles have been introduced by countries like the U.S. due to aluminium shortages.
Spirit-based is expected to be the fastest-growing segment in 2022.
The type segment includes malt-based, spirit-based and wine-based. The spirit-based segment is expected to witness the highest growth rate during the forecast period. There is a growing market for spirit-based ready-to-drink cocktails due to their variety of flavours, low alcohol content, and an increasing number of health-conscious consumers around the world. Gin & tequila is the leading revenue contributor, containing only 5% alcohol, and it's mixed with other ingredients, such as juices. A study conducted by MMR indicates that 45% of the total alcohol consumed in the world is in the form of spirits.
Supermarkets/hypermarkets are expected to be the fastest-growing segment in 2022.
The end-user segment is commercial and residential. The supermarkets/hypermarkets segment is expected to witness the highest growth rate during the forecast period. Global revenues for supermarkets/hypermarkets in 2021 accounted for around 60%. Supermarkets/hypermarkets are large, widely distributed and are able to reach a larger consumer base compared to other retailers. As a result of consumers' inclination towards one-stop shopping, convenience is a key reason for its dominance.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the tissue towel market include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The North American region witnessed a major share. According to the report, North America will take a 35% share of the global ready-to-drink cocktail market by 2021. For the forecast period, North America is expected to lead the market. North America has seen rapid growth in the market for ready-to-drink cocktails. The United States dominated the market for ready-to-drink cocktails in North America. As a result of the busy lifestyle of its population, this region is experiencing an increase in demand for on-the-go products. Increasing supermarket and hypermarket chains such as Target and Walmart are a positive development for ready-to-drink cocktails as most sales happen through these distribution channels. Due to their affordability and convenience, the market is expected to grow.
Country Analysis
- Germany
Germany's ready-to-drink cocktails market size was valued at USD 2.3 billion in 2022 and is expected to reach USD 3.45 billion by 2030, at a CAGR of 5.2% from 2023 to 2030.
The growth in the RTD beverage category is attributed to a growing awareness of health and wellness, the desire for clean labels, and the preference for functional beverages. Coffee, tea, and functional beverages, including energy drinks, have seen a constant rise due to increasingly hectic schedules.
- China
China’s ready-to-drink cocktails market size was valued at USD 2.4 billion in 2022 and is expected to reach USD 3.6 billion by 2030, at a CAGR of 5.4% from 2023 to 2030.
Chinese consumers have a high demand for ready-to-drink drinks, as there is no need for preparation, unlike mixed alcoholic drinks. In recent years, many new players have entered the market, which has resulted in an increase in sales and competition. RIO, the biggest local brand, holds the majority market share.
- India
India's ready-to-drink cocktails market size was valued at USD 1.9 billion in 2022 and is expected to reach USD 2.8 billion by 2030, at a CAGR of 5.3% from 2023 to 2030.
In response to consumers' growing preference for healthy living, tissue towel firms have expanded their product lines. This has led to the acquisition of smaller companies at lower prices, which is expected to boost the tissue towel market.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to hectic schedules and rising demand for ready-to-eat drinks.
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