Ready To Drink Cocktails Market Size, Industry Share And Growth Analysis For 2021-2028: Grand View Research Inc.

 Ready To Drink Cocktails Market Growth & Trends

The global ready to drink cocktails market size is expected to reach USD 1775.1 million by 2028, registering a CAGR of 12.0% over the forecast period, according to a new report by Grand View Research, Inc. 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. The supermarkets/hypermarkets distribution channel segment accounted for the largest revenue share in 2020. Supermarkets are well-established distribution channels for manufacturers of RTD cocktails and play a key role in the market since they have a wide consumer reach. The improving scenario of the retail industry is expected to boost the segment growth over the forecast period. The market is fragmented with the presence of a large number of global and regional players.

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Ready To Drink Cocktails Market Report Highlights

• Asia Pacific is expected to register the fastest CAGR during the forecast years
• The low alcohol level and lower price of RTE cocktail drinks as compared to cocktails served at bars make them an ideal choice for young consumers in the Asia Pacific region
• The cans packaging segment is expected to register the fastest CAGR from 2021 to 2028
• The segment growth is credited to the rising consumer demand for convenience and ease-to-carry packaging
• North America led the global market in 2020 due to the high demand for drinks with low alcohol content
• An increased number of breweries and distilleries in the U.S. and Canada are incorporating RTD alternatives, which will drive the regional market growth over the forecast years

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Ready To Drink Cocktails Market Segmentation

Grand View Research has segmented the global ready to drink cocktails market on the basis of type, packaging, distribution channel, and region:

RTD Cocktails Type Outlook (Revenue, USD Million, 2016 - 2028)

• Malt-based
• Spirit-based
• Wine-based

RTD Cocktails Packaging Outlook (Revenue, USD Million, 2016 - 2028)

• Bottles
• Cans

RTD Cocktails Distribution channel Outlook (Revenue, USD Million, 2016 - 2028)

• Hypermarkets/Supermarkets
• Online
• Liquor Stores

RTD Cocktails Regional Outlook (Revenue, USD Million, 2016 - 2028)

• North America
  • US.
• Europe
  • UK.
  • Germany
  • France
• Asia Pacific
  • China
  • Japan
  • Australia
• Central & South America
  • Brazil
• Middle East & Africa
  • South Africa

List of Key Players of Ready To Drink Cocktails Market

• Diageo plc
• Brown-Forman
• Bacardi Limited
• Asahi Group Holdings, Ltd.
• Pernod Ricard
• Halewood Wines & Spirits
• Shanghai Bacchus Liquor Co., Ltd.
• Suntory Holdings Ltd.
• Manchester Drinks
• Anheuser-Busch InBev

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.