The global RTD cocktail market size is expected to have astounding growth between 2023 and 2033. As to the study report released by Future Market Insights, it is anticipated that the global market would achieve a valuation above US$ 36,504 million by 2023. By 2033, it is projected to reach a valuation of US$ 89,334.7 million. According to estimates, the industry would grow at an astounding rate of 9% between 2023 and 2033.
Ready-to-drink (RTD) cocktails are alcoholic drinks that come in a box. It is expected that their quick and easy consumption habits will have a big impact on market growth. Market expansion is aided by increasing urbanisation and changing customer inclinations and preferences. RTD beverages come in a variety of flavours, giving customers plenty of alternatives to choose from to fit their tastes. When attending events, parties, and other social gatherings, millennials like to sip on their RTD drinks. Increased consumption of RTD cocktails is expected to fuel market growth, especially among millennials.
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The market is anticipated to rise as a result of the developing e-commerce industry. Customers who purchase RTD cocktails online have a wide selection to pick from. Online shopping’s simplicity and convenience will probably increase sales of RTD cocktails during the projection period. Retailers are increasingly providing personalised recommendations and subscription services in order to meet the increased demand. Online sales of RTD cocktails are expected to rise in popularity and support market progress.
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.
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.
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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 (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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