South Africa Ready To Drink Cocktails Market Size & Outlook
South Africa ready to drink cocktails market, 2018-2030 (US$M)
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South Africa ready to drink cocktails market highlights
- The South Africa ready to drink cocktails market generated a revenue of USD 17.2 million in 2023 and is expected to reach USD 40.3 million by 2030.
- The South Africa market is expected to grow at a CAGR of 12.9% from 2024 to 2030.
- In terms of segment, spirit-based was the largest revenue generating alcohol base in 2023.
- Spirit-based is the most lucrative alcohol base segment registering the fastest growth during the forecast period.
Ready to drink cocktails market data book summary
| Market revenue in 2023 | USD 17.2 million |
| Market revenue in 2030 | USD 40.3 million |
| Growth rate | 12.9% (CAGR from 2023 to 2030) |
| Largest segment | Spirit-based |
| Fastest growing segment | Spirit-based |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Wine-based, Spirit-based, Malt-based |
| Key market players worldwide | Diageo PLC, Brown-Forman Corp Class A, Bacardi, Asahi Group Holdings Ltd, Pernod Ricard SA, Anheuser-Busch InBev SA/NV, Suntory Holdings, The Absolut Company, House of Delola, Halewood International, Shanghai Bairun Investment Holding Group |
Other key industry trends
- In terms of revenue, South Africa accounted for 1.8% of the global ready to drink cocktails market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, South Africa ready to drink cocktails market is projected to lead the regional market in terms of revenue in 2030.
- South Africa is the fastest growing regional market in Middle East & Africa and is projected to reach USD 40.3 million by 2030.
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Ready To Drink Cocktails Market Scope
Ready To Drink Cocktails Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Africa ready to drink cocktails market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to ready to drink cocktails market will help companies and investors design strategic landscapes.
Spirit-based was the largest segment with a revenue share of 40.12% in 2023. Horizon Databook has segmented the South Africa ready to drink cocktails market based on wine-based, spirit-based, malt-based covering the revenue growth of each sub-segment from 2018 to 2030.
According to the WHO, several African countries are faced with the growing burden of alcohol consumption and its resultant harmful health effects. The WHO also states that there is no other consumer product that is responsible for as much premature disability and death as alcohol is.
While this might deter players from offering products with high alcohol content, it opens up growth and expansion opportunities for cocktails with lower alcohol content. RTD cocktails are offered by manufacturers in a wide variety of flavors infused with ginger, rose, lavender, and others.
This makes them one of the most preferred alcoholic beverages among consumers. Premiumization of the product with improved flavors—such as spirit-based martini and bloody Mary—is further expected to drive the demand over the forecast period.
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Our clientele includes a mix of ready to drink cocktails market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the South Africa ready to drink cocktails market , including forecasts for subscribers. This country databook contains high-level insights into South Africa ready to drink cocktails market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Africa ready to drink cocktails market size, by type, 2018-2030 (US$M)
South Africa Ready To Drink Cocktails Market Outlook Share, 2023 & 2030 (US$M)
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