Newark, Nov. 03, 2022 (GLOBE NEWSWIRE) -- According to The Brainy Insights, the RTD cocktails market is growing at a CAGR of 12.9% from 2022-2030. The market is driven by rising demand for low-alcoholic convenient cocktails drinks that are portable and can be consumed whenever one feels like consuming a small amount of liquor. Trends such as the infusion of herbal ingredients, low calorie & preservatives are expected to positively impact the market growth in the coming years. However, the difference in taxation of RTD cocktails across the globe will have a slightly negative impact on the market.
Spirit-based cocktails such as margaritas, cosmopolitans, and whiskey sours are very popular among consumers. Gin and tequila base RTD cocktails are highly preferred owing to their unique taste. Consumer demand for high-quality bar cocktails at home has been forcing consumers to launch different cocktails in distinct flavors to fulfill the growing consumer demand.
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Worldwide, consumers have become more focused on health and wellness and like to include herbal or botanical ingredients in their diet as this help the body. This trend has been growing and has been adopted by key manufacturers in the RTD cocktails market. The key players have been adding ginger extract and aromatic herbs without compromising the taste of the drinks.
Alcohol-drinking consumers have been prioritizing the experience gained from drinking alcohol rather than its cost. With the evolution of drinking occasions such as road trips, leisure, enjoying with friends, and in-house social gathering, the adoption of RTD cocktails is likely to increase especially in countries like India, Japan, South Korea, and UAE. Furthermore, product labels claiming- organic, natural, and non-GMO is one of the most effective ways for players to expand their customer reach.
Furthermore, the easy online distribution of RTD cocktails owing to their low alcoholic content and their convenient format is also providing growth opportunities to the market players. Thus, many RTD cocktails with unique flavors and distinct tastes were launched even during the COVID-19 pandemic, and this market is expected to continue to grow in the upcoming years.
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Key Players
1. Diageo plc.
2. Brown-Forman
3. Pernod Ricard
4. Bacardi Limited.
5. Asahi Group Holdings, Ltd.
6. Halewood Wines & Spirits
7. SUNTORY HOLDINGS LIMITED
8. Constellation Brands
9. Two Chicks Drinks, LLC
10. Cutwater Spirits
Market Segmentation
• Product Insights
o Malt-based
o Spirit-based
o Wine-based
• Distribution Channel Insights
o Supermarkets & Hypermarkets
o Online
o Liquor stores
o Others
• Packaging Insights
o Bottled
o Canned
• Regional
o North America
US
Canada
Mexico
o Europe
UK
Germany
France
Italy
Spain
o Asia Pacific
China
Japan
India
Australia
o Central & South America
Brazil
o Middle East & Africa
South Africa
UAE
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About the report:
The global RTD cocktails market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements, whether they are looking to expand or planning to launch a new product in the global market.
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