RTD Alcoholic Beverage Market Size, Trend, Segmentation, Growth And Opportunities Forecast To 2025February 7, 2020
RTD alcoholic beverages, or Ready-to-Drink alcoholic beverages are premixed alcoholic drinks that are prepared ready for consumption. As opposed to a single spirit, an RTD alcoholic beverage is a drink, consisting of one or more spirits, mixed with a flavoured substance or sodas. RTD alcoholic beverages are used to make a variety of cocktails and long drinks. RTD alcoholic beverage in market are purchased by people who wish to have a drink on-the-go, as this does not require them to mix the spirit and the mixer separately.
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RTD alcoholic beverages market are versatile and have found and increasing popularity amongst millennials. Due to the no-fuss, readymade approach provided by RTD alcoholic beverages, the younger generation keeps the demand going for these types of drinks. RTD alcoholic beverages also come with a lower alcoholic content, making it perfect as a light party drink, and also finding increased acceptance by a larger consumer base.
As of now the RTD alcoholic beverage market has reached a stagnant point, due to the lack of innovation when it comes to flavours and taste. Moreover, there is an increased preference for mixing different spirits and curating one’s own cocktails, making the RTD alcoholic beverage seem lacking in that aspect. Manufactures will now have to make efforts in curating drinks that can seem to catch the attention of the public. The addition of new product types will have to see a rise in order for the industry to gain a foothold in the future.
Global RTD Alcoholic Beverage Market : Key Players
Anheuser-Busch InBev SA/NV (Belgium)
Molson Coors Brewing Company (US)
Suntory Holdings Limited (Japan)
Bacardi Limited (Bermuda)
Mike’s Hard Lemonade Co. (US)
Diageo PLC (UK)
Carlsberg Breweries A/S (Denmark)
Pernod Ricard SA (France)
Asahi Group Holdings, Ltd. (Japan)
The Brown-Forman Corporation (US)
The RTD alcoholic beverage market takes into account the different types of alcoholic spirits that can be incorporated to make the readymade drink. The RTD alcoholic beverage market is segmented by product type as – Whisky, Rum, Vodka, and Gin. Any of these four spirits are mixed with different flavouring substances or juices to create an RTD alcoholic beverage.
Based on the application, the segmentation is done on the basis od the distribution channels. RTD alcoholic beverages can be found in hypermarkets and supermarkets, as well as convenience stores.
The RTD alcoholic beverage market is divided based on consumption trends in different regions. In the Americas, the key regions are – USA, Canada, Mexico and Brazil. In the Asia Pacific region, RTD alcoholic beverages are produced in China, Japan, Korea, Southeast Asia, and India.
In Europe, the key countries are – Germany, France, UK, Italy, Russia, and Spain. In the middle eastern countries, the key players are – Egypt, South Africa, Israel, Turkey, as well as the GCC countries.
Asia Pacific countries are expected to see an increase in production of RTD alcoholic beverages due to the rising demand for drinks with reduced alcoholic content.
The RTD alcoholic beverage market has seen substantial growth in the past year alone. While the RTD spirit-based cocktail category grew an impressive 40.7%, the RTD malt-based cocktail category saw a staggering 574% growth. The packaging on these drinks seems to be the main crowd-puller. Consumers now can enjoy the benefits of a curated cocktail at their own convenience, an experience they could find only in bars and restaurants.
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