PUNE, India, May 5, 2021 /PRNewswire/ -- Global demand for Ready-To-Drink Cocktails Market Size, in terms of revenue, was worth of USD 517.14 Million in 2017 and is expected to reach USD 1620.55 Million in 2027, growing at a CAGR of 12.1% from 2020 to 2027. Canned products and Premiumization of Cocktails are the key driving factors for the growth of Ready-to-Drink Cocktails Market.
The COVID-19 pandemic has drastic effect on each and every industry with ups and downs. The alcohol and spirit industry has seen the uncertainty due to the consumer behavior. According to Distilled Spirits Council (DISCUS), 750 ml Spirits costing $40 accounts to 40% in the U.S. in year 2020 compared to 34% in 2019. Consumers prefer virtual buying due to the current pandemic situation. The sales of RTD Cocktails will eventually increase as more people are shifting towards small packaging formats and readymade drinks for virtual gatherings.
Ready-To-Drink Cocktails Top Companies:
Some major key players for Global Ready-to-Drink Cocktails Market are East London Liquor Company, Kahlua Nitro Cold Brew, Haig Club, Jack Daniel's Country Cocktails, New Mix, Fizzy favorites, Courage+Stone, Ketel One Botanical Spritz, Cocktails 43 Fresco and others.
Ready-to-Drink (RTD) are beverages which are in prepared form and ready for consumption. Different types of RTD beverages include iced tea, alcopops, soft drinks and more. The alcopops or alcoholic Cocktails are ready made carbonated bottled drinks. Cocktails is an alcoholic drink which is combination of one or more spirits mixed with other ingredients such as flavoring agent, sweetener, fruit juice and others. The demand of all time beverages leads to interest in RTD or single serve Cocktails. For alcohol industry factors like alcohol base, packaging, designing, marketing and distribution are important to make decisions in order to get in-depth knowledge of RTD Cocktails based on consumer preferences.
Canned products and Premiumization of Cocktails are the key driving factors for the growth of Ready-to-Drink Cocktails Market
The major factors driving the growth of Global Ready-to-Drink Cocktails Market are canned products and premiumization of Cocktails. There is a rising demand in natural ingredients and innovative packaging designs. Therefore, industry leaders are focusing on the preferences of consumers and accordingly stepping into the market. According to the Vice President of Breakthru Beverage Group, U.S and Canada based company; they are focusing on the trends like convenience, lifestyle and unique and high-quality products for their consumers. Furthermore, rising urbanization as well as rapid shift in consumer taste and preference are also expected to fuel the market growth. However, various religious and social beliefs in various countries as well as heal issues related to alcohol consumption and high cost of alcoholic beverages are likely to restrain the market growth. On the other hand, rising internet penetration led to the Virtual selling as well as rising demand for innovative flavors and market strategies are likely to create ample opportunities in the Ready-to-Drink Cocktails Market.
North America is dominating the Global Ready-to-Drink Cocktails Market
North America is expected to dominate the Global Ready-to-Drink Cocktails Market within the forecast period attributed to highest alcohol consumption rate in this region. According to Liquor Giant Diageo, U.S. spirit sales for second half in 2020 rise by higher end booze. The sales for 750ml of $50 bottle grew in North America sales by 55% for Don Julio Tequila and 137% for George Clooney brands. According to DISCUS, American whiskey sales rose to 8.2% and RTD Cocktails to 39% in 2019 due to new products launching, convenience and home parties. Asia Pacific is expected to develop at a significant rate owing to rising demand for convenience product in the region. Furthermore, changing lifestyle, food habits and rising disposable income along with surge in online distribution in the region is expected to contribute the market growth.
News: Sophisticated Cocktails to launch premium goon bags
January 29, 2021; Sophisticated Cocktails, has launched the premium goon bags for just $15,000. The female entrepreneur came up with the idea of sophisticated goon bags for the premium ready to drink Cocktails. These bags will be easy to use for home entertainment purposes and can be stored in fridges with easy transportation. These goon bags were created by company i.e. Margarita, Cosmopolitan and Espresso.
Courage+Stone RTD Cocktails awarded at 2020 Proof Awards
January 27, 2021; Aisha Tyler's Courage+Stone Cocktails launched in early 2020 has won double gold prize for two flavors, The Classic Manhattan and The Classic Old Fashioned by Proof Awards 2020 presented by Food and Beverage magazine. The brand also won in design distinction for stylish bottle design.
Global Ready-to-Drink Cocktails Market Segmentation:
Global Ready-to-Drink Cocktails Market report is segmented on the basis of Cocktails Type, Product Type, End-User and Region & country level. Based upon Cocktails Type, Global Ready-to-Drink Cocktails market is classified as Margarita, Cosmopolitan, Manhattan, Martini and others. The market is classified on the basis of Product Type are Bottles, Cans and Goon Bags. On the basis of End-User, market is divided as Households and Foodservice.
Key Benefits for Ready-To-Drink Cocktails Market reports:
Global Ready-To-Drink Cocktails market report covers in depth historical and forecast analysis.
Global Ready-To-Drink Cocktails market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
Global Ready-To-Drink Cocktails market report helps to identify opportunities in marketplace.
Global Ready-To-Drink Cocktails market report covers extensive analysis of emerging trends and competitive landscape.
Ready-To-Drink Cocktails Market: by Regional & Country Analysis (North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of Middle East and Africa)
Soft Drink Concentrates Market 2021 By Application Type (Carbonated, Non-Carbonated), By Flavors Of Each Application (Carbonated, Cola, Non-Cola, Non-Carbonated, Orange, Apple, Mixed, Grape, Pineapple, Grapefruit, Mango), By End Use (Mass Merchandise, Food Service, Fountain Machine) Forecast To 2025
Global Yogurt Drink Market: Global Market Size, Trends, Competitive, Historical & Forecast Analysis, 2020-2025
Global Sports Drink Market Size By Type (Hypotonic Sports Drink, Isotonic Sports Drink, Hypertonic Sports Drink) Forecast 2021-2027
Beverage Packaging Market is valued at USD 116037.3 Million in 2018 and expected to reach USD 154764.7 Million by 2025 with a CAGR of 4.20 % over the forecast period. Increasing consumption of Beverage coupled with surging demand for convenient and sustainable packaging solutions is the key factor driving the growth of Beverage packaging market.
About Brandessence Market Research & Consulting Pvt ltd.
Brandessence market research publishes market research reports & business insights produced by highly qualified and experienced industry analysts. Our research reports are available in a wide range of industry verticals including aviation, food & beverage, healthcare, ICT, Construction, Chemicals and lot more. Brand Essence Market Research report will be best fit for senior executives, business development managers, marketing managers, consultants, CEOs, CIOs, COOs, and Directors, governments, agencies, organizations and Ph.D. Students. We have a delivery center in Pune, India and our sales office is in London.