Market Research Future (MRFR) in its report on global ready-to-drink (RTD) alcoholic beverages market, asserts that the market is projected to garner a 3% CAGR between 2019 and 2024. The increase in awareness about the RTD alcoholic beverages is likely to allow the market to touch a valuation that is to be worth USD 32 Billion by 2024.
Market Boosters and Pitfalls:
The inclination towards luxury due to hike in disposable income is expected to boost the global RTD alcoholic beverages market growth. The rising demand for cocktails and long drinks, followed by the trend of healthcare consciousness is expected to bolster the RTD alcoholic beverages market growth. The less alcohol content in the beverage is leveraging the RTD alcoholic beverages market growth. The growing preference of experimenting with new flavors of RTD alcoholic beverages is likely to create scope to launch new products. Hence, this can contribute to the market expansion in the coming years.
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Halewood International Limited (UK), Bacardi Limited (Bermuda),), Mike’s Hard Lemonade Co. (US), Diageo PLC (UK), Shanghai Bacchus Limited (China), Carlsberg Breweries A/S (Denmark), Asahi Group Holdings, Ltd. (Japan), Davide Campari Milano SpA (Italy), Global Brands Ltd (UK), Pernod Ricard SA (France), Anheuser-Busch InBev SA/NV (Belgium), Suntory Holdings Limited (Japan), The Brown-Forman Corporation (US), Heineken N.V. (Netherlands), and Molson Coors Brewing Company (US).
Funkin Cocktails partnered with Ardagh to sell Nitro Cans of ready-to-drink cocktails.
Based on the base type, the global RTD Alcoholic Beverages Market has been segmented into vodka, whiskey, gin, rum, and others. As different flavors efficiently infuse in rum, the rum segment is envisaged to proliferate at the highest rate. Hence, the convenience in manufacturing and hike in the number of sales of rum type RTD alcoholic beverages can spur the market growth. The vodka segment is likely to grow with the highest growth rate over the review period. Owing to the property of vodka to easily blend with different juices, the vodka segment is expected to escalate the RTD alcoholic beverage market growth.
Based on the packaging type, the global RTD alcoholic beverages market has been segmented into bottles and cans. Due to the high impermeability of glass bottles, it allows longer shelf life to its content. Hence, the bottle segment is expected to hold the largest share of the RTD alcoholic beverages market. The cans segment is estimated to grow with the highest pace owing to the ease in consumption through cans.
Based on the distribution channel, the global RTD alcoholic beverages market has been segmented into non-store-based and store-based. The store-based segment has further narrowed down to and specialty stores, hypermarkets, supermarkets, and others. The surge in availability of RTD alcoholic beverages in supermarkets and hypermarkets is likely to boost the supermarkets and hypermarkets segment expansion. The consumers in the UAE prefer buying alcoholic beverages from duty-free shops. This is pushing the expansion of the non-store-based segment, as the increase in presence of market players and third-party online retails, backed by e-commerce is noted.
Based on the region, the RTD alcoholic beverages market has been studied across North America, Asia-Pacific, Europe, and the rest of the world.
Europe is forecasted to dominate in the global RTD alcoholic beverages market. Due to the presence and emergence of market players in the region, a significant hike in the rate of production and sales number is noted. Hence, the increase in consumption of RTD alcoholic beverages is expected to push the market to the forefront. The RTD alcoholic beverages market in the Asia Pacific region is expected to garner the highest CAGR during the forecast period. The North American RTD alcoholic beverages market growth is observed to be bolstered by the high availability of these beverages and
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