Growing demand of flavored RTD spirits owing to increasing disposable income is driving the market for RTD spirits market.
RTD spirit contains diluted concentration of hard liquor with various flavors including fruits and spices and which are serve in different packaging form for direct consumption. Cocktail RTD drinks are becoming popular among the consumers which has inclined the sales of innovative RTD spirits in the market. Moreover, alcoholic spirits are commonly consumed by the youth generations which is influencing the RTD spirits market in developed economies.
Changing lifestyle and acceptance of the new trends has boosted the sale of RTD compared to other alcoholic beverages. Rise in disposable income is having an optimistic impression on this market. Increasing demands for fortified and refreshing flavored alcoholic beverages is expected to further have a strong effect on this market across the globe. Rising intake of RTD spirits is among consumers who have a preference to experiment with refreshing and new flavors in alcoholic beverages. In developing countries, growing demand for flavored spirits from female population is contributing in the increased share of RTD spirits.
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Latest Industry Updates:
March 2018 Ennoble Beverages launched Bloody Mary cocktail which is a the first-ever, all-natural flavored malt-based ready-to-drink (RTD) to expands its flavored malt beverage category
March 2018 Australian company Diageo marketing and innovation director Events Adam Ballesty says alcohol consumption in Australia is not in decline stage as Diageo witnessing demand for RTD spirits from last few years.
March 2018 According to Coca-Cola Japan president Jorge Garduño, Coco-Cola is going to launch a chuhai drink, due to rising demand of RTD spirits and soda drinks in Japan. Coca-Cola, one of the major producer of soft drinks has conventionally avoided producing alcoholic drinks, despite its brands being liberally used as mixers for decades.
Feb 2018 Drinks manufacturer based in the Indianapolis has launched around 12 canned cocktails which including a Bloody Mary, Cosmo Moscow Mule, and Mojito. All these are introduced especially to target casino, hotels, and airlines.
Top manufacturers are focusing on new product with new flavor development in order to improve the product line. Apart from that, the key players are running various campaigns to attract young consumer base across the globe though social media and others mediums.
The key players profiled in RTD spirits market report are Diageo Plc. (U.K.), Asahi Breweries, Ltd. (Japan), Suntory Holdings Limited (Japan), Bacardi Limited (Bermuda), Pernod Ricard SA (France), Halewood International Limited (U.K.), and The Brown-Forman Corporation (U.S.) among many others.
The global RTD Spirits market has been divided into type, packaging material, distribution channel, and region.
On The Basis of Type: whiskey, rum, vodka, tequila, gin, and others
On The Basis of Packaging Material: glass, metal, and others
On The Basis of Distribution Channel: on-trade, and off-trade
On The Basis of Region: North America, Europe, Asia Pacific, and ROW.
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The global RTD spirit market is segmented into Europe, North America, Asia Pacific and rest of the world (RoW). Europe holds major market share in RTD spirits market followed by North America. In the Europe region, Spain, U.K., Germany, and the Netherlands are witnessing significant growth in RTD spirit market from last few years. Increasing demand for premium RTD cocktails in the U.S. and Mexico is driving the growth of RTD spirits in the North America. Asia Pacific is witnessing rise in sales of RTD spirits owing to increasing disposable income and growing preference of RTD spirits among young consumers. Innovation in products and flavors by the key manufacturers from developed countries will change the market dynamics in upcoming years.
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