Brandessence Market Research has published a new report title and According to Study “Ready-to-Drink Cocktail Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027- Canned products and Premiumization of cocktails are the key driving factors for the growth of Ready-to-Drink Cocktail Market.
Ready-to-Drink Cocktail Market is valued at USD 517.14 Million in 2017 and expected to reach USD 1620.55 Million by 2027 with a CAGR of 12.1% over the forecast period.
Scope of Ready-to-Drink Cocktail Market Report:
Ready-to-Drink (RTD) are beverages which are in prepared form and ready for consumption. Different types of RTD beverages include iced tea, alcopops, soft drinks and more. The alcopops or alcoholic cocktails are ready made carbonated bottled drinks. Cocktail is an alcoholic drink which is combination of one or more spirits mixed with other ingredients such as flavoring agent, sweetener, fruit juice and others. The demand of all time beverages leads to interest in RTD or single serve cocktails. For alcohol industry factors like alcohol base, packaging, designing, marketing and distribution are important to make decisions in order to get in-depth knowledge of RTD cocktail based on consumer preferences.
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The COVID-19 pandemic has drastic effect on each and every industry with ups and downs. The alcohol and spirit industry has seen the uncertainty due to the consumer behavior. According to Distilled Spirits Council (DISCUS), 750 ml Spirits costing $40 accounts to 40% in the U.S. in year 2020 compared to 34% in 2019. Consumers prefer virtual buying due to the current pandemic situation. The sales of RTD cocktails will eventually increase as more people are shifting towards small packaging formats and readymade drinks for virtual gatherings.
Global Ready-to-Drink Cocktail Market Segmentation:
Global Ready-to-Drink Cocktail Market report is segmented on the basis of Cocktail Type, Product Type, End-User and Region & country level. Based upon Cocktail Type, Global Ready-to-Drink Cocktail market is classified as Margarita, Cosmopolitan, Manhattan, Martini and others. The market is classified on the basis of Product Type are Bottles, Cans and Goon Bags. On the basis of End-User, market is divided as Households and Foodservice.
By Cocktail Type:
Margarita
Cosmopolitan
Manhattan
Martini
Others
By Product Type:
Bottles
Cans
Goon Bags
By End-User:
Household
Foodservices
The regions covered in this Global Ready-to-Drink Cocktail Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market of Ready-to-Drink Cocktail is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia, Africa, etc.
Key Players for Global Ready-to-Drink Cocktail Market Report:
Some major key players for Global Ready-to-Drink Cocktail Market are East London Liquor Company, Kahlua Nitro Cold Brew, Haig Club, Jack Daniel’s Country Cocktail, New Mix, Fizzy favorites, Courage+Stone, Ketel One Botanical Spritz, Cocktail 43 Fresco and others.
Canned products and Premiumization of cocktails are the key driving factors for the growth of Ready-to-Drink Cocktail Market
The major factors driving the growth of Global Ready-to-Drink Cocktail Market are canned products and premiumization of cocktails. There is a rising demand in natural ingredients and innovative packaging designs. Therefore, industry leaders are focusing on the preferences of consumers and accordingly stepping into the market. According to the Vice President of Breakthru Beverage Group, U.S and Canada based company; they are focusing on the trends like convenience, lifestyle and unique and high-quality products for their consumers. Furthermore, rising urbanization as well as rapid shift in consumer taste and preference are also expected to fuel the market growth. However, various religious and social beliefs in various countries as well as heal issues related to alcohol consumption and high cost of alcoholic beverages are likely to restrain the market growth. On the other hand, rising internet penetration led to the Virtual selling as well as rising demand for innovative flavors and market strategies are likely to create ample opportunities in the Ready-to-Drink Cocktail Market.
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North America is dominating the Global Ready-to-Drink Cocktail Market
North America is expected to dominate the Global Ready-to-Drink Cocktail Market within the forecast period attributed to highest alcohol consumption rate in this region. According to Liquor Giant Diageo, U.S. spirit sales for second half in 2020 rise by higher end booze. The sales for 750ml of $50 bottle grew in North America sales by 55% for Don Julio Tequila and 137% for George Clooney brands. According to DISCUS, American whiskey sales rose to 8.2% and RTD cocktails to 39% in 2019 due to new products launching, convenience and home parties. Asia Pacific is expected to develop at a significant rate owing to rising demand for convenience product in the region. Furthermore, changing lifestyle, food habits and rising disposable income along with surge in online distribution in the region is expected to contribute the market growth.
Key Benefits for Global Ready-to-Drink Cocktail Market Report:
Global Ready-to-Drink Cocktail Market report covers in-depth historical and forecast analysis.
Global Ready-to-Drink Cocktail Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, Regional and Country Level.
Global Ready-to-Drink Cocktail Market report helps to identify opportunities in marketplace.
Global Ready-to-Drink Cocktail Market report covers extensive analysis of emerging trends and competitive landscape.
Ready-to-Drink Cocktail Market By Regional & Country Level:
North America
U.S.
Canada
Europe
U.K.
France
Germany
Italy
Asia Pacific
China
Japan
India
Southeast Asia
Latin America
Brazil
Mexico
Middle East and Africa
GCC
Africa
Rest of Middle East and Africa
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