The global RTD cocktail shots market recorded a year-on-year (YoY) growth of 30.4% in 2022, surpassing US$ 3,708 Mn. The overall sales in the RTD cocktail shots market are expected to increase at a CAGR of 10.0% to reach the value of US$ 9,633 Mn in 2032.
According to Future Market Insights (FMI), demand for RTD cocktail shots is predicted to rise due to rising cocktail consumption and a preference for fresh products. As a result, important players are attempting to capitalise on the trend by delivering a traditional cocktail in a container created from natural ingredients.
Furthermore, because they do not require preparation, sales of ready-to-drink cocktail shots are increasing. Furthermore, the availability of high-quality ready-to-drink cocktail shots is proving to be a one-stop shop that saves time and money.
The cans category is projected to dominate the RTD cocktail host market in terms of packaging. Millennials and numerous craft brew lovers favour canned cocktail shots, which increases demand for canned RTD cocktail shots.
The RTD Cocktail Shots market is experiencing rapid growth as consumers seek convenient and portable ways to enjoy cocktails on-the-go. With a wide variety of flavors and innovative packaging, these ready-to-drink shots cater to the modern lifestyle. The market’s expansion is driven by the rising popularity of social gatherings and the demand for hassle-free alcoholic beverages.
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Key Takeaways from Market Study
- The ready-to-drink cocktail shots market is expected to expand at CAGR of 10.0% over the forecast period.
- Among the type, spirit based is expected to dominate the market, accounting for 42.0% of the revenue during the forecast period.
- Among the packaging segment, bottle segment accounted for more than 57.0% revenue share and it is expected to grow at 8.2% CAGR over the forecast period.
- Among distribution channel segment, supermarkets/hypermarkets category will account for over 70% of demand share between 2022 and 2032.
“Ease in convenience coupled with busy lifestyle has increased the demand for ready-to-drink cocktail shots. Hence, key players are introducing fresh flavors to capitalize on growing demand,” says a Future Market Insights analyst.
Competitive Landscape
Key manufacturers of global ready-to-drink cocktail shots market are focusing on research & development in order to develop innovative and unique product offering. In addition to this, these key players in the ready-to-drink cocktail shots market are also concentrating on merger, acquisition and joint ventures to expand their geographical presence and to increase the existing production capacity.
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- In 2018, Bacardi Ltd announced the completion of its acquisition of PATRON brand of Patron Spirits International AG, the world’s best-selling ultra-tequila. With this acquisition, Bacardi becomes the leading spirits company in the ultra-segment in the United States, as well as the second largest in terms of market share by value.
- In 2020, Bacardi Ltd, the world’s largest family-owned spirits company, announced the acquisition of batched cocktail and premium crafted company TAILS.
Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the global ready-to-drink cocktail shots market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
Market Segments Covered In RTD Cocktail Shots Analysis
Type:
- Malt-based
- Wine-based
- Spirit-based
Packaging:
- Bottles
- Cans
Distribution Channel:
- Online
- Hypermarkets/supermarkets
- Liquor Stores
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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