Ready to drink cocktail is a processed and packaged beverage. Alcopops are the most common ready-to-drink cocktails. The emergence of bottled and canned cocktails is significantly escalating the popularity of ready-to-drink cocktails globally.
The surging demand for flavored drinks among people along with low alcohol content owing to the surging health concerns is one of the primary reasons for the growth of the global ready-to-drink cocktails market. Furthermore, the launch of premium products with enhanced quality taste, flavors, and packaging design will further complement the growth of the global ready-to-drink cocktails market. The outbreak of the Covid-19 pandemic is likely to positively impact the growth of the global market in the forthcoming years due to the surge in the trend of at-home cocktail culture due to the growing health concerns and convenience offered by them. However, the diversity of ready-to-drink cocktails in the global market will further augment the demand. The transforming lifestyle of people and inclining preferences towards a healthy diet is expected to fuel the demand for the product in the market. Furthermore, the availability of keto-friendly, gluten-free, and organic ready-to-drink cocktails is inducing consumers to opt for such drinking options.
The global ready-to-drink cocktails market can be segmented into the distribution channel, packaging, type, and region.
By distribution channel, the market can be segmented into supermarkets, online, and hypermarkets. The supermarket segment accounts for the largest share in the global market due to the growing inclination of consumers towards supermarket grocery shopping.
By packaging, the market can be segmented into cans and bottles. The bottled packaging segment holds the largest share in the global market due to the rising demand for premium cocktails with attractive packaging.
By type, the market can be segmented into wine-based, spirit-based, and malt-based. The spirit-based segment dominates the global market.
North America accounts for the largest share in the global ready-to-drink cocktails market due to the growing demand for on-the-go products with exotic flavors in the region. Moreover, the presence of prominent market leaders in the region will further accentuate the growth of the regional market.
Asia Pacific is expected to witness a significant growth rate in forthcoming years due to the growing demand for convenient, premium, and quality cocktails in the region. Moreover, the growing disposable income of the people in the region is likely to further fuel the growth of the regional market in the forthcoming years.
Some of the significant players in the global ready to drink cocktails market are Simple Skiff Beverages, LLC, Anheuser-Busch InBev, Manchester Drinks Company Ltd., Suntory Holdings Limited, SHANGHAI BACCHUS LIQUOR CO., LTD., Halewood Wines & Spirits, Pernod Ricard, Asahi Group Holdings, Ltd., and Bacardi Limited. To cite, Brown-Forman Corp. entered into a partnership with Pabst Brewing Company for distribution and supply of cocktails from Brown-Forman’s Jack Daniel’s Country.
Having a Master’s Degree in Brewing Technology and overall experience of 6 years in the field of writing, Jerri has been one of the most workaholic and dedicated team members of thefoodbeveragenews.com portal. She has been a part of this portal for 4 years now. Jerri started a career in writing with freelancing and the journey has been worth watching and appraising. She handles the Beverage Industry domain of the portal and along with her team provides all the vital and up-to-the-minute news and reports to the readers in a simple and comprehensible manner.