The global Ready To Drink Cocktails market size is expected to be worth around US$ 2775.1 Mn by 2030, according to a new report by Vision Research Reports.
The global Ready To Drink Cocktails market size was valued at US$ 750.8 billion in 2020 and is anticipated to grow at a CAGR of 14.0% during forecast period 2021 to 2030.
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Ready To Drink Cocktails Market (By Type: Malt-based, Spirit-based, Wine-based; By Packaging: Bottles, Cans; By Distribution Channel: Hypermarkets/supermarkets, Online, Liquor Stores) – Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030
Growth Factors
The growing demand for flavored drinks with low alcohol content due to rising health concerns and increasing consumer inclination toward Ready-To-Eat (RTE) and RTD products, owing to their busy lifestyles and hectic work schedules, is driving the market growth. In terms of type, the spirit-based segment led the market in 2020 and is anticipated to maintain its dominance during the forecast period. Spirit-based drinks have high demand owing to their low alcohol content and the availability of various flavors. The growing demand for low content alcohol-based flavored drinks due to the rising health concerns is anticipated to drive the segment over the forecast period.
The bottle packaging segment accounted for the largest share in 2020. Aluminum shortage in countries has led to the introduction of RTD cocktails in glass bottles, which became popular worldwide over a period of time. Furthermore, increased awareness regarding water and land pollution has prompted the majority of players to launch their products in glass bottles.
Report Highlights
The spirit-based type segment held the largest revenue share of over 43% in 2020 and is expected to maintain dominance over the forecast period. Spirit-based beverages usually contain up to 5% alcohol mixed with other ingredients like juices and are available in single-serve packaging and various flavors. Vodka, gin, tequila, and rum are the most commonly used spirits. The growing demand for low content alcohol-based flavored drinks due to the rising health concerns is anticipated to drive the segment over the forecasted period. These drinks offer a wide range of variety, such as cocktails infused with ginger, rose, and lavender along with spirits, which, in turn, has increasingly made them the most preferred alcoholic beverage among consumers.
The bottle packaging segment accounted for the largest revenue share of more than 68% in 2020. Initially, the RTD concept was launched in a bottle package design and became popular worldwide. Aluminum shortage in countries, such as the U.S., has led to the introduction of glass bottles. These market trends increased the demand for glass bottles across the globe. The cans segment is anticipated to register the fastest CAGR of over 22% from 2021 to 2030. Cans are lightweight and compact, which makes them a popular packaging choice.
The supermarkets/hypermarkets segment accounted for the maximum revenue share of more than 79% in 2020. The segment is projected to retain its dominance throughout the forecast period owing to the high consumer inclination toward shopping grocery products from supermarkets and convenience stores, specialty stores, and grocery stores. Supermarkets & hypermarkets are prominent distribution channels worldwide with companies, such as Target and Walmart, dominating the space. Unlike grocery stores, orders across supermarkets & hypermarkets are larger.
North America accounted for the largest revenue share of more than 43% in 2020 and is expected to continue its dominance during the forecasted period. The U.S. accounted for the largest revenue share in the regional market due to the high demand for on-the-go products with different flavors. Asia Pacific is anticipated to register the fastest CAGR of more than 23% from 2021 to 2030.
| Report Coverage | Details |
| Market Size | US$ 2775.1 Mn by 2030 |
| Growth Rate | CAGR of 14.0% From 2021 to 2030 |
| Base Year | 2020 |
| Forecast Year | 2021 to 2030 |
| Segments Covered | Type, Packaging, Distribution Channel |
| Companies Mentioned | Diageo plc, Brown-Forman, Bacardi Limited, Asahi Group Holdings, Ltd., Pernod Ricard, Halewood Wines & Spirits, SHANGHAI BACCHUS LIQUOR CO., LTD., Suntory Holdings Limited, Manchester Drinks Company Ltd., Anheuser-Busch InBev |
Key Players
Market Segmentation
The study objectives of this report are:
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