The global RTD cocktail market is expected to experience an astounding increase between 2023 and 2033. In 2023, the global market is expected to reach a value of US$ 36,504 million, according to a study analysis released by Future Market Insights. By 2033, its value is projected to reach US$ 89,334.7 million. From 2023 to 2033, the market is anticipated to exhibit a startling CAGR of 9%.
RTD cocktails are ready-to-drink (RTD) packaged alcoholic beverages. Their quick and easy consumption characteristics are anticipated to be prominent growth drivers for the market. Rising urbanization and shifting customer choices and tastes support market growth. RTD cocktails are available in a variety of flavors, giving customers a wide range of options to suit their preferences. Millennials prefer to consume RTD cocktails at parties, informal gatherings, or while hanging out with friends. Increasing consumption of RTD cocktails at social gatherings, particularly amongst millennials is predicted to foster market growth.
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It is projected that the market is likely to expand due to the growing e-commerce sector. While shopping online, customers can choose from a large selection when buying RTD cocktails. The ease and convenience of online shopping are likely to boost RTD cocktail sales during the forecast period. Additionally, to cater to the growing demand, retailers are also offering individualised recommendations and subscription services. The growing popularity of purchasing RTD cocktails online is predicted to bolster market expansion.
Key Takeaways from RTD Cocktail Market:
- The global RTD cocktail market expanded at a modest CAGR of 1.7% from 2018 to 2022.
- In 2018, the global market size stood at US$ 32,851.2 million.
- In 2022, the global RTD cocktail market size accounted for US$ 35,100.00 million in 2022.
- The cider segment captured a generous 21.80% market share in 2022.
- In 2022, the flavored RTD cocktail segment captured a staggering 78% market share.
- The can RTD cocktail segment garnered nearly 34% market share in 2022.
- The United States accounted for a whopping 21.6% share of the North America RTD cocktail market in 2022.
- India RTD cocktail market accounted for 10.1% of the global market share in 2022.
- China held 9.8% of the overall Asia Pacific RTD cocktail market share in 2022.
- Germany captured a generous 13.4% share of Europe RTD cocktail market.
- The United Kingdom captured a modest 7.8% market share in 2022.
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Recent Developments Observed by FMI:
- Topo Chico Spirited introduced a new line of RTD cocktails in April 2023. The new RTD cocktails are modelled after traditional cocktails. Tequila & Grapefruit, Tequila & Lime, and Vodka & Lemon are the three brand-new flavours.
- Chicago-based Crafthouse Cocktails introduced two new limited-edition RTD cocktails in March 2023. Vodka Soda and Gin & Tonic, the new flavours, cost about $5.99 per can.
- Molson Coors introduced a new line of non-alcoholic RTD cocktails in January 2023. To replicate the artisanal cocktail experience, the brand-new line known as “Roxie” was introduced.
- Radico Khaitan introduced three new varieties of its “Magic Moments” vodka in India in October 2022. To meet the rising demand for RTD drinks, three new variants—mojito, cola, and cosmopolitan—were introduced.
RTD Cocktail Market Segmentation
By Product Type:
- Cider
- Gin
- Vodka
- Wine
- Whiskey
- Rum
- Hard Seltzer
- Cocktail
By Flavor:
- Natural/Unflavored
- Flavored
By Packaging:
- Bottle
- Can
By Sales Channel:
- On-trade/Food Service
- Institutional Sale
- Retail
- Online Retail
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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