NEWARK, Del, Aug. 01, 2022 (GLOBE NEWSWIRE) -- The global RTD cocktails market is projected to reach US$ 104.9 Bn in 2032 while exhibiting a prolific CAGR of 11.6% over the forecast period of 2022 to 2032. RTD cocktails market will reach an estimated value of US$ 35.1 Bn by the end of 2022. Modern consumers are increasingly adopting prevailing health and wellness trends. This is spurring the demand for low-calorie beverages. Thus, with manufacturers continually trying to keep up with the ever-evolving lifestyle trends, the demand for low-calorie RTD beverages will; likely rise in the upcoming years. All these promote an environment of growth for the RTD cocktails market.
RTD cocktails are premixed cocktail drinks packed in a can or a bottle container with low carbohydrates, artificial sweeteners, and zero sugar. RTD drinks are meant for direct consumption and are instant and convenient in nature. These properties of the beverage foster market growth for the product. Rising urbanization, a fast-paced lifestyle and constantly changing consumer behavior are likely to propel the demand for RTD cocktails.
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Moreover, the rising trend of party culture supplements the market expansion of RTD drinks. These cocktails are also easy to handle or carry which promotes their consumption at social gatherings. A popular drink among the millennials, RTD drinks are available in a wide range of flavors, are the healthier drinking option, and offer consumers the convenience of a quick energy drink. Thus, RTD cocktails cater to almost all of the consumers’ demands regarding beverages. This will boost the market growth for the product in the international market.
“The rise of party culture coupled with health & fitness trends, will likely augment the sales of RTD cocktails in the global market over the forecast period.” says an FMI analyst.
Key Takeaways:
- Availability of a wide range of flavors, low calories, and convenience promote market growth
- The U.S. is expected to account for 78% of the North America RTD cocktail market.
- Rising social gatherings will drive the market in South and East Asia.
- India is expected to account for 38% of the overall market share in 2022, with an 11.6% CAGR.
- China will account for an estimated 55% of the total East Asia RTD cocktail market share in 2022.
- Easy product availability coupled with product selection is spurring online sales of RTD cocktails.
- Demand for the flavored RTD cocktails segment is likely to account for 82% of the overall market share.
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Competitive Landscape
Blue Marble, Bravazzi, Cocktail Squad, Cutwater Spirits, Five Drinks Company, Kahlúa, Lifted Libations, and Livewire among others are some of the major players in the RTD cocktails market that are profiled in the full version of the report.
In a fairly competitive market, RTD cocktails market partakers are involved in business expansion strategies via mergers, collaborations, partnerships, and acquisitions. These organizations are also keen on trying various approaches like using novel technologies to deliver innovative products as well as enhancing the distribution channels to cater to an expanding consumer base.
More Insights into the RTD cocktails Market Report
In its latest report, FMI offers an unbiased analysis of the global RTD cocktails market, providing historical data from 2017 to 2021 and forecast statistics for the period 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented based on product type (cider, gin, vodka, wine, whiskey, rum, hard seltzer, cocktail), flavor (natural/ unflavored, flavored (citrus, ginger, apple, vanilla, berry, tropical, coconut, jerk, plantain, mixed fruits) packaging (bottle, can), sales channels (on-trade/ food service, institutional sale, retail (hypermarket/ supermarkets, specialty stores, convenience stores, airport retail, liquor shop/ beverage exclusive) online retail) and region.
According to the latest FMI reports, based on regional growth, North America is projected to exhibit attractive market opportunities over the forecast period. This regional growth is prompted primarily by the US market. As per the report, the U.S. RTD cocktail market is expected to account for 78% of the overall North America market share in 2022. This is due to the increasing consumption of RTD drinks with exotic flavors and traditional blends. In addition to this, the rising trend of house parties is also elevating the demand for RTD cocktail beverages.
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The RTD cocktails market in the Asia Pacific is expected to show substantial growth over the forecast period. The rising trend of indoor social gatherings will likely supplement the market in South and East Asia. While the market in India is anticipated to grow at a robust CAGR of 11.6%, accounting for 38% of the overall market share, China will presumably hold 55% of the total East Asia RTD cocktail market share in 2022.
As per the latest study by FMI, based on flavor, the flavored RTD cocktail segment will fuel the market growth over the forecast period. This segment is expected to account for 82% of the overall market share. With 24% of total market share ownership, the citrus flavor is leading this segment’s growth in 2022.
In the sales channel segment, online retail is projected to grow at a stellar CAGR of 11.9%. However, the physical retail sector will continue to hold its own with ownership of around 45% of the market share over the forecast period.
Global RTD Cocktail Market by Category
By Product Type:
- Cider
- Gin
- Vodka
- Wine
- Whiskey
- Rum
- Hard Seltzer
- Cocktail
By Flavor:
- Natural/Unflavored
- Flavored
- Citrus
- Ginger
- Apple
- Vanilla
- Berry
- Tropical
- Coconut
- Jerk
- Plantain
- Mixed Fruits
By Packaging:
- Bottle
- Can
By Sales Channel:
- On-Trade/Food Service
- Institutional Sale
- Retail
- Hyper market/Supermarket
- Convenience Store
- Specialty Stores
- Liquor Shop/Beverage Exclusive
- Airport Retail
- Online Retail
Table of Content
1. Market Overview
1.1. Market Coverage / Taxonomy
1.2. Market Definition / Scope / Limitations
2. The Massive Impact of the Crisis
2.1. Global RTD Cocktail Market Forecast Scenario Comparison of Annual Growth Rates for Short Term (2022-2025) and Long Term (2026-2032)
2.1.1. Optimistic Scenario
2.1.1.1. China
2.1.1.2. US
2.1.1.3. India
2.1.1.4. Euro Zone
2.1.1.5. Asia Pacific
2.1.1.6. Rest of the World
2.1.2. Likely Scenario
2.1.2.1. China
2.1.2.2. US
2.1.2.3. India
2.1.2.4. Euro Zone
2.1.2.5. Asia Pacific
2.1.2.6. Rest of the World
2.1.3. Pessimistic Scenario
2.1.3.1. China
2.1.3.2. US
2.1.3.3. India
2.1.3.4. Euro Zone
2.1.3.5. Asia Pacific
2.1.3.6. Rest of the World
2.2. Key Factors Impacting the Market
2.3. Note: Market Assessment shall be Provided for Likely Scenario
3. Market Background
3.1. Global Production Outlook of Cocktail Market
3.2. Per Capita Expenditure on Cocktail
3.3. Product Claims & Nutritional Information Scan of RTD Cocktail
3.4. Rise in Consumption of Beverages Across Globe
3.5. Macro-Economic Factors
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