According to Future Market Insights (FMI), the RTD cocktail market is expected to be valued at USD 35,321.4 million in 2024 and USD 56,652.7 million by 2034. The demand for RTD cocktails is likely to increase at a CAGR of 4.8% from 2024 to 2034.
The ready-to-drink cocktail sector is seeing growth due in large part to consumer demand for time and effort-saving options. Demand for RTD cocktails is anticipated to rise throughout the projected period as a result of the introduction of novel flavours, mixes, and packaging. The market is anticipated to grow as a result of creative marketing techniques used by major RTD cocktail makers, such as partnerships with influencers and celebrities.
To boost sales and brand preference, producers of RTD cocktails are spending money on research and development. This involves introducing fresh RTD cocktail-based blends or formulations that cater to particular customer demands.
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The ease with which RTD cocktails can be consumed at any time and anywhere adds to their appeal. Additionally, it is anticipated that the availability of RTD cocktails through a variety of distribution channels, including retail locations, internet retailers, and liquor shops, will increase RTD cocktail sales.
Continuous innovation in the market helps build a strong brand image by offering unique solutions to consumers. These innovative product launches are anticipated to propel the RTD cocktail market forward.
A Chicago-based company, Crafthouse Cocktails, for instance, launched two new limited-edition RTD cocktails. The new flavors include Vodka Soda, Gin, and tonic, and they are priced around US$ 5.99 per can. Similarly, due to the rising demand for RTD cocktails in India, Radico Khaitan, under its vodka brand ‘Magic Moments,’ launched three new variants: cola, cosmopolitan, and mojito.
Key Takeaways from the RTD Cocktail Market Report:
- The global RTD cocktail market is expected to reach a valuation of USD 35,321.4 million by 2024.
- Global demand for RTD cocktails is expected to soar at 8% CAGRover the forecast period.
- North America is projected to hold a dominant value share of 6% in the global market by 2034.
- Germany’s market is estimated to witness a value CAGR of 1% during the projection period.
- The market is projected to reach USD 56,652.7 million by 2034.
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Competitive Landscape
Diageo plc, Pernod Ricard, Bacardi Limited, Brown-Forman Corporation, Beam Suntory Inc., and Campari Group are the key RTD cocktail manufacturers. Leading companies are directing on expanding their portfolios by launching new products. Key manufacturers use strategies such as partnerships, advertisements, agreements, acquisitions, and mergers to stay relevant in the market.
For instance,
- In 2023, Topo Chico Spirited launched its new range of RTD cocktails.
- In 2023, Molson Coors launched its new non-alcoholic RTD cocktail range, Roxie, to recreate the craft cocktail experience.
Get More Valuable Insights
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global RTD cocktail market, presenting historical demand data (2019 to 2023) and forecast statistics for the period from 2024 to 2034.
The study incorporates compelling insights on the RTD cocktail market based on sales channels (on-trade/ food service, institutional sales [hospitality], retail and online retail), product type (ciders, gin, vodka, wine, whiskey, rum, hard seltzer, cocktail [bourbon, tequila]), packaging type (cans, premixed cocktail shots, bottles), and flavor (unflavored and flavored) across regions.
About Future Market Insights (FMI)
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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