Ready To Drink Cocktails Industry Overview
The global ready to drink cocktails market size was valued at USD 782.8 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 13.4% from 2022 to 2030. The growing demand for flavored drinks with low alcohol content due to the rising health concerns is anticipated to drive the market over the forecast period. Premiumization of the product with flavors, taste, quality, and package design is further expected to drive the market.
The COVID-19 pandemic has had a positive impact on the market. Though the demand for them was already rising, the segment exploded after the COVID-19 pandemic hit the world. The growth of the at-home cocktail culture, increased concerns for health, convenience, and the enhanced quality and diversity of ready to drink cocktails are the factors behind the upsurge in demand.
Gather more insights about the market drivers, restraints, and growth of the Global Ready To Drink Cocktails market
The pandemic has caused many consumers to alter their buying habits and convert to online shopping in an effort to avoid exposure to the virus. In addition, in an effort to reach more consumers, brick-and-mortar retailers are beginning to realize the importance of developing an e-commerce strategy and are subsequently turning to online ordering and delivery platforms like Drizly (an online ordering and delivery platform) for expansion.
Consumers in developed countries have become more health-conscious, thereby switching to low alcohol flavored drinks. They usually contain a low amount of alcohol, ranging from 4%-7% along with added flavors like lemon, cranberry, orange, and passion fruit, which eventually attracts health-conscious consumers. Therefore, low alcohol by volume (ABV) drinks have been gaining traction over the years. Gin and tequila-based products, in particular, have a high demand among consumers.
The per capita alcohol consumption in Russia, Australia, Brazil, China, and South Africa has declined significantly in recent years. Furthermore, changing lifestyle choices to improve health and the growing trend of responsible drinking are expected to boost the demand. Moreover, the availability of organic, gluten-free, and keto-friendly ready to drink cocktails is encouraging a greater number of consumers to adopt these products.
Growing consumer inclination toward ready-to-eat or ready-to-drink products owing to the busy lifestyles and hectic work schedules is driving the demand. The increasing working population, supported by the increasing number of working women, is anticipated to drive the market. Furthermore, the demand is driven by numerous consumers who prefer offering homemade drinks at house parties and social gatherings.
Browse through Grand View Research's Alcohol & Tobacco Industry Research Reports.
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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:
Ready To Drink Cocktails Type Outlook (Revenue, USD Million, 2017 - 2030)
- Malt-based
- Spirit-based
- Wine-based
Ready To Drink Cocktails Packaging Outlook (Revenue, USD Million, 2017 - 2030)
- Bottles
- Cans
Ready To Drink Cocktails Distribution Channel Outlook (Revenue, USD Million, 2017 - 2030)
- Hypermarkets/Supermarkets
- Online
- Liquor Stores
Ready To Drink Cocktails Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa
Market Share Insights
January 2022: The Coca-Cola Company has signed a brand authorization agreement with Constellation Brands Inc. to launch FRESCA Mixed, a line of full-flavored, spirit-based ready-to-drink (RTD) cocktails in the U.S.
March 2021: Diageo plc launched a new ‘Crown Royal ready to drink cocktails’ for whisky and cocktail enthusiasts. It includes three classic, signature Crown Royal serves in flavors of apple, cranberry, cola, and peach tea.
Key Companies profiled:
Some prominent players in the global ready to drink cocktails market include -
- 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
- Anheuser-Busch InBev
Order a free sample PDF of the Ready To Drink Cocktails Market Intelligence Study, published by Grand View Research.
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