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RTD Cocktails Market is expected to reach US$ 63,373.38 million by 2030

The Global RTD Cocktails Market size is projected to grow from USD 24,731.53 million in 2022 to USD 63,373.38 million by 2030.

By The Insight Partners

Strong Preference for RTD Alcoholic Beverages Among Consumers

According to our latest market study on “RTD Cocktails Market Forecast to 2030 – COVID-19 Impact and Global Analysis – by Base Type, Packaging Type, and Distribution Channel,” the RTD cocktails market size is projected to grow from US$ 24,731.53 million in 2022 to US$ 63,373.38 million by 2030; the market is expected to grow at a CAGR of 12.5% from 2022 to 2030. The report highlights key factors driving the market and prominent players along with their developments in the market.

The consumption of high-quality RTD cocktails is increasing worldwide, which is currently one of the biggest trends in the alcoholic beverage industry. The convenience offered by RTD alcoholic beverages, such as RTD cocktails, allows consumers to save time and effort associated with ingredient shopping, mixing, and preparing drinks. Due to hectic work schedules, consumers prefer to be efficient with their time rather than spending it on tedious tasks. Thus, they are more likely to spend their money on convenience, which dives into the popularity of RTD beverages such as cocktails and hard seltzers. According to the report of The Distilled Spirits Council (DISCUS) on the growth of the RTD cocktails category, premixed, spirit-based RTD suppliers increased their revenue by 42% in 2020–2021. This period, which coincides with the height of the COVID-19-induced lockdowns, saw rapid growth in the demand for RTD alcoholic beverages.

RTD Cocktails Market Breakdown – by Region

To get free sample copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/brochure/TIPRE00019248

RTD cocktails featuring whiskey, vodka, gin, rum, and tequila have gained popularity in recent years. Gin-based RTD cocktails, particularly those with classic flavors like gin martinis, are favored by consumers who enjoy the distinct botanical notes and refreshing qualities of gin. Hence, the availability of a wide variety of base ingredients in the global marketplace and diverse consumer preferences for RTD cocktails are fueling the RTD cocktails market growth across the globe.

Bacardi Limited, Beam Suntory Inc, Boulevard Brewing Co, Bully Boy Distillers LLC, Constellation Brands Inc, Cutwater Spirits LLC, Five Drinks Co, New Holland Brewing Co LLC, Post Meridiem Spirit Co, and The Crown Royal Co, are among the major players operating in the global RTD cocktails market. Market players are highly focused on developing high-quality and innovative product offerings to fulfill the varied requirements of their customers. Moreover, these key players are adopting strategic development initiatives to expand their market presence.

Impact of COVID-19 Pandemic on RTD Cocktails Market

The consumer goods industry suffered severe disruptions due to disturbances in supply chains and shutdowns of production plants amid the COVID-19 pandemic. The shutdown of various banks, manufacturing plants, and factories in regions such as North America, Europe, Asia Pacific, South America, and the Middle East & Africa had further ill effects on supply chains, manufacturing, delivery schedules, and sales. Many businesses announced possible delays in product deliveries and slumps in their future sales. Thus, with suspended operations in the food & beverages industry, the demand for RTD cocktails decreased during the pandemic, which negatively impacted the RTD cocktails market growth.

In 2021, various economies resumed their operations as governments of various countries announced relaxations in the previously imposed restrictions, bolstering the RTD cocktails market. Moreover, manufacturers were permitted to operate at full capacities, which helped them overcome the demand and supply gaps. All these factors favored the growth of the RTD cocktails market in the post-pandemic recovery period.

The report includes the segmentation of the RTD cocktails market as follows:

Based on base type, the RTD cocktails market is segmented into malt-based, tequila-based, vodka-based, whiskey-based, and others. In terms of packaging type, the market is categorized into bottles, cans, and others. Based on distribution channel, the RTD cocktails market is segmented into supermarkets & hypermarkets, specialty stores, online retail, and others. By geography, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. The RTD cocktails market in North America is further segmented into the US, Canada, and Mexico. The European market is subsegmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The RTD cocktails market in Asia Pacific is further segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in the MEA is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of MEA. The RTD cocktails market in South & Central America market is categorized into Brazil, Argentina, and the Rest of South & Central America.

 

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