Ready To Drink Cocktails Market To Reach $2.43 Billion By 2030

Ready To Drink Cocktails Market Growth & Trends

The global ready to drink cocktails market size is expected to reach USD 2.43 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to grow at CAGR of 14.0% from 2023 to 2030. 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 ready-to-drink (RTD) products, owing to their busy lifestyles and hectic work schedules, is driving the market growth. In terms of type, spirit-based RTD cocktails emerged as the largest segment in 2022 and is anticipated to maintain its dominance in the forecasted period. They are popular among consumers 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 spirit-based segment over the forecast period.

The bottle packaging segment accounted for a largest share of the overall revenue in 2022. Aluminum shortage in several countries has led to the introduction of RTD cocktails in glass bottles, which became popular worldwide. Furthermore, the rise in awareness regarding water and land pollution has prompted majority of players to launch their products in glassed bottles. The supermarkets/hypermarkets distribution channel segment accounted for the largest share of 69.8% in 2022. Supermarkets are well-established distribution channels for product manufacturers 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 many global and regional players.

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Ready To Drink Cocktails Market Report Highlights

• Asia Pacific is expected to register the fastest CAGR of 15.4% from 2023 to 2030. The convenience offered by these drinks, along with the low alcohol level and lower price in comparison to cocktails served at bars, makes them an ideal choice for young consumers in this region

• North America dominated the global market in 2022 due to the rising demand for drinks with low alcohol content. As an increased number of breweries and distilleries are incorporating RTD alternatives in the U.S. and Canada, the product adoption has been rising. The market is expected to reflect incremental growth of 2.5x by 2030

• The cans packaging segment is expected to register a CAGR of 14.5% from 2023 to 2030 owing to the growing consumer demand for convenience and ease-to-carry packaging

• The online distribution channel segment is expected to register the fastest CAGR from 2023 to 2030. The shift in consumers’ shopping behavior is one of the major factors driving the sales through the online channel

Ready To Drink Cocktails Market Segmentation

Grand View Research has segmented the global ready to drink cocktails market based on alcohol base, packaging, distribution channel, and region:

RTD Cocktails Alcohol Base Outlook (Revenue, USD Million, 2017 - 2030)

• Malt-based

• Spirit-based

• Wine-based

RTD Cocktails Packaging Outlook (Revenue, USD Million, 2017 - 2030)

• Bottles

• Cans

RTD Cocktails Distribution Channel Outlook (Revenue, USD Million, 2017 - 2030)

• Hypermarkets/Supermarkets

• Online

• Liquor Stores

RTD Cocktails Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • U.K.

  • Germany

  • France

• Asia Pacific

  • China

  • Japan

  • South Korea

  • India

  • Australia & New Zealand

• Central & South America

  • Brazil

• Middle East & Africa

  • South Africa

List of Key Players of Ready To Drink (RTD) Cocktails Market

• The Absolut Company

• House of Delola, LLC

• 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