The global RTD cocktail market is projected to expand at 11.6% CAGR, reaching US$ 104.9 Bn in 2032.
RTD cocktails share the stage with low-alcoholic beverages that were introduced in the market for health-conscious consumers or consumers that are avid drinkers but have medical conditions (diabetes, obesity).
Owing to various factors such as house party culture, health concerns, convenience, and wide range of product portfolio, sales in the RTD cocktails market are expected to grow at a considerable pace over the forecast period (2022-2032).
Surging demand for low calorie beverages is influencing the demand for RTD cocktails. In response to this, players are launching low calorie and low ABV (alcohol by volume) drinks and are introducing flavours made from natural ingredients.
Cocktail manufacturers are bringing sophisticated flavors on the table such as Bergamot Sparkler, Classic Gin Martini, Spumante Molto Rosso, and others to give an elegant touch and complement it with other traditional and organic flavors.
Additionally, key players are trying to leverage social media marketing by promoting their products on Instagram to appeal the millennial population. Such marketing strategies and innovative solutions will boost the market in the forthcoming years.
“Growing demand for natural ingredients and low-sugar content in beverages, along with increasing focus on convenience, portability and easy accessibility of RTD beverages are key trends anticipated to drive the market over the forecast period,” says the FMI analyst.
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- By product type, the vodka segment is expected to account for 20% of the total market share in 2022.
- In terms of flavor, citrus and ginger flavored cocktails together are expected to hold a value share of nearly 43% of the global market by 2022 end
- The canned RTD cocktails segment is expected to account for 54% of the global market in 2022.
- Sales in the U.S. will command 78% of the total RTD cocktail market share by 2032.
- China will continue exhibiting high demand, holding 55% of the total market share in 2022.
- India will emerge as a lucrative market, with sales growing at a 11.6% CAGR over the forecast period.
Manufacturers of RTD cocktail are majorly focusing on research & development, product innovation, geographical expansion, partnerships and mergers and acquisitions to cater to a growing customer base. For instance:
- In 2020, Blue Marble introduced nine new mixed drinks such as Mojito, Greyhound, Moscow Rule, and others which are prepared using natural juices, premium distilled spirits, and handmade syrups with very low level of calories.
- In 2020, Cocktail Squad launched its new collection of zero sugar classy casuals product line which could be enjoyed during all four seasons.
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Future Market Insights, in its new report, offers an impartial analysis of the global RTD cocktail market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
By Product Type:
- Hard Seltzer
- Mixed Fruits
By Sales Channel:
- On-Trade/Food Service
- Institutional Sale
- Hyper market/Supermarket
- Convenience Store
- Specialty Stores
- Liquor Shop/Beverage Exclusive
- Airport Retail
- Online Retail
- North America
- Latin America
- East Asia
- South Asia
- Middle East & Africa
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