The global RTD Cocktail market is anticipated to grow at a CAGR of 12.2% during the forecast period (2021-2027). The factor that is augmenting the growth of the market includes the growing demand for low-alcohol contain flavored RTD cocktails among the population especially in the young generation globally. Rum, Whiskey, Vodka, Wine, and others are the most popular cocktails that are largely consumed by people all over the world. The demand for such drinks is high in various countries, especially in North America and Europe. In addition, it is expected that the global consumption of no-low RTD cocktails is expected to increase by over 70% by 2024. Moreover, the rising health concern owing to the high consumption of drinks with high alcohol content is also the factor creating the demand for RTD cocktails. Besides, the production of alcohol drinks with more premium quality, better taste, more flavored, and an affordable price range is expected to create the scope for RTD cocktails drinks during the forecast period. An increase in the standard of living, high disposable income, changing customers choice preferences, and availability of organic, gluten-free RTD cocktails are also the factors accelerating the growth of the market. Moreover, due to busy lifestyles, customers are more inclined towards the adoption of foods and drinks that are ready to eat and consume, this is also the reason that has augmented the production of such products. 

The introduction of RDT cocktails with natural ingredients and innovative packaging, rapid urbanization, and demand for premium quality drinks from high-income countries are expected to offer lucrative opportunities in the market during the forecast period. However, social beliefs regarding alcohol consumption in various countries, and the high cost of alcoholic drinks may become the restrains in the growth of the market during the forecast period.

Impact of COVID-19 on Global RTD Cocktail Market

The RTD cocktail market was positively impacted by the outbreak of the COVID-19 pandemic. During the pandemic, it has been witness that the demand for RTD cocktails was increased. In addition, the e-commerce website has generated high revenue during the pandemic owing to the increased in online purchasing of alcoholic beverages by customers. Whereas the offline alcohol selling vendors have experienced a downfall in their businesses due to governments orders for the mandatory closure of all non-essential services and businesses. Various companies have expanded their business to online platforms to increase the sales of their premium products during the pandemic. 

Segmental Outlook  

The global RTD Cocktail market is segmented based on type, packaging, price, and distribution channel. Based on type, the market is further trifurcated into malt-based, sprit-based, wine-based. The sprit-based segment held a large share in the market during the forecast period. The low-alcohol content and wide range of flavors in spirit-based RTD make them highly demandable, hence drives the segment growth. Segment. On the basis of packaging, the market is divided into glass bottles, canned, and others. Among these, the canned segment is projected to account for the high share in the market during the forecast period. Canned RTD cocktails are travel friendly, unbreakable, and easy to carry, also they are acceptable in areas where glass bottles are prohibited. Similarly, based on price, the global RTD cocktail market is categorized into low, medium, and high/premium. The medium price RDT cocktails are the fastest-growing segment owing to their high demands by the young population owing to the affordability. Whereas, based on distribution channels, the market is classified into online and offline. The offline segment is further sub-segmented into supermarkets & hypermarkets, liquor specialist stores, and duty-free stores. 

Global RTD Cocktail Market Share by Distribution Channel, 2020 (%)

The online segment is Projected to be the Fastest-Growing in the Global RTD Cocktails Market

Among distribution channels, the online segment held the highest share in 2020 and it is projected to be the fastest-growing during the forecast period. With the increase in retail and e-commerce business, various alcohol selling companies have shifted their business to online platforms in order to sell their premium quality products globally. In addition, due to the busy and hectic lifestyle, people prefer ordering products through online mode rather than going to the supermarket market. In addition, the online business owner also provides good discounts with a broad range of products according to the customer choice and preference, this led to the increase in purchasing of no-low alcohol drinks such as RTD cocktails by online modes. Moreover, the increase in the trend of selling RTD drinks through company-owned websites, and e-commerce websites is expected to widen the scope of these products, hence the market will grow more through online selling. 

Regional Outlook 

Geographically, the global RTD Cocktail market is classified into four major regions including North America (the US and Canada), Europe (UK, Germany, France, Italy, Spain, and Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, ASEAN, and Rest of Asia-Pacific), and Rest of the World (Latin America and the Middle East and Africa (MEA)). Asia-Pacific is projected to expand at a faster rate during the forecast period. The factor augmenting the growth of the market in the region includes increasing demand for premium, convenient RTD cocktails in the economies such as China, India, Japan, South Korea, and South Asia. The presence of major e-commerce companies and their sales of premium quality RTD drinks through online platforms is also the reason behind the high demand and large production of these drinks in the region. 

Global RTD Cocktail Market Growth, By Region 2021-2027

North America Expected to Hold the Leading Position in the Global RTD Cocktails Market

Geographically, North America is projected to hold the leading position by accounting largest share in the market during the forecast period. The consumption of flavored RTD cocktails is high among the young population in the US, and this is the reason many manufacturing companies are now focusing on launching products with more flavor and affordable price ranges. The demand for premium quality wines in high-income families is also high in the US. This factor is projected to surge the demand for RTD cocktails in the region, which in turn, further drive the market growth. The presence of alcohol leading alcohol companies, high disposable income, changing standard of living, and growing concerns regarding health are some of the prominent factors driving the growth of the market in the major economies such as the US and Canada in the North America region.

Market Players Outlook

The key players in the RTD cocktail market contributing significantly by providing different types of products and increasing their geographical presence across the globe. The key players of the market include Anheuser-Busch InBev, Asahi Group Holdings, Ltd, Bacardi Ltd., Boston Beer Company, Inc, Brown-Forman Corp, Diageo PLC, Distell Group Ltd., Halewood Artisanal Spirits, Radico Khaitan Ltd., among others. These market players are adopting several market strategies including product launch and approvals, merger and acquisition, partnership collaboration, business, and capacity expansion, and others. For instance, in May 2021, Canteen Spirits announced a distribution agreement and partnership collaboration with Anheuser-Busch. The company joins Anheuser-Busch’s family of distribution partnerships in Beyond Beer (organized around four strategic priorities: seltzer, wine and spirits, malt-based beverages, and non-alcoholic beverages). The partnership will support Canteen Spirits to leverage their expertise in logistics and distribution that will further help the company to grow at an expedited pace.

The Report Covers

• Market value data analysis of 2020 and forecast to 2027.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global RTD Cocktail market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.