The global RTD cocktail market is estimated to be worth US$ 35,321.4 million by 2024. The market is projected to reach a value of US$ 56,652.7 million by 2034, expanding at a CAGR of 4.8% from 2024 to 2034.
Ready-to-drink (RTD) cocktails are alcoholic beverages that have been packaged in boxes. Their easy and rapid consumption patterns are expected to have a substantial impact on market growth. Market expansion is aided by rising urbanisation and shifting client tastes. RTD beverages are available in a wide range of flavours, providing customers with numerous options to suit their preferences. When attending events, parties, and other social gatherings, millennials enjoy drinking RTD beverages. Increased demand for RTD drinks is likely to drive market growth, particularly among millennials.
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It is projected that the market will grow as a result of the expanding e-commerce sector. Online shoppers can choose from a large assortment of RTD cocktails. During the projected period, sales of RTD cocktails are likely to increase due to the ease and convenience of online shopping. To keep up with the growing demand, retailers are offering subscription services and tailored recommendations more and more. It is anticipated that the popularity of RTD cocktail sales online would grow and help the market’s advancement.
Key Takeaways from RTD Cocktail Market:
- The global RTD cocktail market expanded at a modest CAGR of 1.7% from 2018 to 2022.
- In 2018, the global market size stood at US$ 32,851.2 million.
- In 2022, the global RTD cocktail market size accounted for US$ 35,100.00 million in 2022.
- The cider segment captured a generous 21.80% market share in 2022.
- In 2022, the flavored RTD cocktail segment captured a staggering 78% market share.
- The can RTD cocktail segment garnered nearly 34% market share in 2022.
- The United States accounted for a whopping 21.6% share of the North America RTD cocktail market in 2022.
- India RTD cocktail market accounted for 10.1% of the global market share in 2022.
- China held 9.8% of the overall Asia Pacific RTD cocktail market share in 2022.
- Germany captured a generous 13.4% share of Europe RTD cocktail market.
- The United Kingdom captured a modest 7.8% market share in 2022.
Recent Developments Observed by FMI:
- Topo Chico Spirited introduced a new line of RTD cocktails in April 2023. The new RTD cocktails are modelled after traditional cocktails. Tequila & Grapefruit, Tequila & Lime, and Vodka & Lemon are the three brand-new flavours.
- Chicago-based Crafthouse Cocktails introduced two new limited-edition RTD cocktails in March 2023. Vodka Soda and Gin & Tonic, the new flavours, cost about $5.99 per can.
- Molson Coors introduced a new line of non-alcoholic RTD cocktails in January 2023. To replicate the artisanal cocktail experience, the brand-new line known as “Roxie” was introduced.
- Radico Khaitan introduced three new varieties of its “Magic Moments” vodka in India in October 2022. To meet the rising demand for RTD drinks, three new variants—mojito, cola, and cosmopolitan—were introduced.
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RTD Cocktail Market Segmentation
By Product Type:
- Cider
- Gin
- Vodka
- Wine
- Whiskey
- Rum
- Hard Seltzer
- Cocktail
By Flavor:
- Natural/Unflavored
- Flavored
By Packaging:
- Bottle
- Can
By Sales Channel:
- On-trade/Food Service
- Institutional Sale
- Retail
- Online Retail
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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