RTD canned cocktail market is fizzing with excitement, with a projected CAGR of 6% from 2023 to 2033. This translates to a market value reaching a staggering USD 33.2 Billion by 2033, up from USD 18.8 Billion in 2023. This report offers a refreshing perspective for B2B investors seeking to tap into this high-growth beverage category.
RTD canned cocktail market is driven by rising demand for flavored beverages with low alcohol content due to increasing health concerns. RTD alcoholic beverages market conditions have improved as a result of the pandemic.
Convenience Reigns Supreme for Busy Consumers
Gone are the days of complicated cocktails and extensive bar setups. RTD canned cocktails offer a convenient, pre-mixed, and portable solution for today’s busy consumers. Packed with flavor and spirit, these canned libations cater to a wide range of preferences, making them a perfect fit for various occasions – from backyard barbecues to poolside lounging.
Demand on the Rise: Consumers Thirst for Convenience and Quality
- Convenience Craving: Consumers with hectic lifestyles appreciate the grab-and-go nature of canned cocktails. No more measuring ingredients or hunting for obscure liquors – just pop a can and enjoy.
- Quality on the Rise: The days of sugary, artificial-tasting RTDs are fading. Manufacturers are prioritizing high-quality ingredients, premium spirits, and innovative flavor profiles to cater to discerning palates.
- Dietary Preferences: The rise of gluten-free, sugar-conscious, and health-focused consumers is prompting the development of RTDs that cater to these dietary needs.
- Alcohol in Moderation: The growing trend of mindful drinking is finding its way into the RTD market, with options featuring lower alcohol by volume (ABV) content.
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Investment Opportunities in the Market
The market is driven by an increase in demand for flavored drinks with low alcohol content due to growing health concerns. Moreover, this industry is flourishing notably because of its busy lifestyles and the abundance of RTD canned cocktails that are flavored with various flavors.
Market developments include a significant shift to RTD cocktails as a substitute for wine and spirits. Increased premiumization of the product with high taste, quality, container design, and flavors is also a market trend.
RTD canned cocktail industry is positively impacted by the e-commerce industry expansion, rising consumer awareness of low-alcohol beverages, and rising online sales.
RTD canned cocktail manufacturers have huge prospects over the projection period thanks to convenient package design.
High charges and taxes as well as health problems linked to alcohol consumption are the variables impeding market expansion. The RTD alcoholic beverages market is likely to face difficulties related to cultural and religious views in various countries.
Sales Channel Insight
By 2023, retail accounted for the majority of revenue in the RTD canned cocktail market. The segment maintains dominance due to the high consumer preference for purchasing grocery products from supermarkets and convenience stores.
Grocery stores are an important distribution channel. Local grocery stores and national chains such as Kroger in the United States are part of the mainstream grocery distribution platform.
Supermarkets and hypermarkets take large orders than grocery stores.
From 2023 to 2033, the online retail segment is anticipated to expand at a 14.4% CAGR. This sector covers company websites as well as e-commerce platforms where their products are offered.
Companies have begun to provide products through the online platform as consumer interest in it has grown.
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Growing Factors: New Flavors and Sustainable Packaging Keep it Fresh
- Flavor Explosion: Manufacturers are constantly experimenting with new flavor combinations, from classic cocktails with a twist to unique tropical and seasonal offerings. This keeps the market exciting and caters to diverse consumer preferences.
- Sustainable Sipping: Eco-conscious consumers are driving the adoption of sustainable packaging solutions. RTD manufacturers are exploring recyclable aluminum cans and innovative packaging materials to minimize environmental impact.
- Marketing Magic: Strategic marketing campaigns are targeting specific demographics and leveraging social media to reach new audiences. This is fostering brand loyalty and driving sales.
Regional Insights
- North America dominated the market and held a considerable revenue share in 2023, and it maintains its dominance. The RTD canned cocktail market is driven by increased demand for vodka and whiskey-based beverages.
- The United States accounts for the leading share in 2023 due to increased customer demand for flavors and shifting tastes. The low alcohol level and low price of these cocktails are fueling their popularity among local customers.
- The demand for high-quality cocktails expanded in Asia Pacific, with a CAGR of around 14.9% because of the influence of Western society.
- Other key variables boosting product demand are changing lifestyles and increased alcohol usage for the RTD alcoholic beverages market. These beverages are an excellent alternative for young customers due to their convenience and reduced price compared to cocktails in bars.
Key Takeaways:
- Between 2023 and 2033, the United States ready-to-drink canned cocktail market may gain a 31% market share.
- Germany’s ready-to-drink canned cocktail market is expected to hold a 15% share from 2023 to 2033.
- During the anticipated time frame, Japan’s ready-to-drink canned cocktail market is projected to gain a 2.6% market share.
- From 2023 to 2033, Australia’s ready-to-drink canned cocktail industry may hold 1.5% of the global market share. China’s RTD alcoholic beverages market is anticipated to thrive at a 6.4% CAGR between 2023 and 2033.
- India’s ready-to-drink canned cocktail market is anticipated to expand at a CAGR of 8.7% during the anticipated period.
- From 2023 to 2033, the United Kingdom’s ready-to-drink canned cocktail market is projected to secure a 7% CAGR.
- Cider may acquire a market share of 23% in the product type category in the RTD alcoholic beverages market throughout the anticipated period.
- Between 2023 and 2033, the natural or unflavored flavor segment in the ready-to-drink canned cocktail market is likely to grab a market share of 34%.
- The retail sector to hold a 63% market share in the sales channel category of the ready-to-drink canned cocktail market from 2023 to 2033.
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The Ambition of Competition:
Leading companies that compete in the RTD canned cocktail market are spending money on research and development. Manufacturers seek to expand the range and caliber of their offerings to enhance RTD canned cocktail sales. RTD canned cocktail manufacturers are spending money on mergers, acquisitions, and partnerships to increase their global reach.
Pivotal Advancements:
Product Launches
- The “Frenchie,” Lemongrass canned cocktail from Sheboygan’s Vikre Distillery in Duluth had fruit and vodka.
- There has been an increase in female customers as a result of the appearance of canned beverages with flavors like strawberries and roses, which are commonly associated with women. Examples include Pernod Ricard’s “Malibu” and Big Hammer Wines’ “Rosé All Day.”
Significant RTD Canned Cocktail Manufacturers
- Anheuser-Bosch InBev
- Diageo PLC
- Duvel Moortgat USA Ltd.
- AB InBev
- Brown-Forman
- Dulce Vida
- Manchester Drinks Co.
- Novo Fogo
- S.A.B. de C.V.
- Bacardi Limited
Key Segments
By Product Type:
- Cider
- Gin
- Vodka
- Wine
- Whiskey
- Rum
- Hard Seltzer
- Cocktail
By Flavor:
- Natural/Unflavored
- Flavored
By Sales Channel:
- On-trade/Food Service
- Institutional Sale
- Retail
- Hypermarket/Supermarket
- Convenience Store
- Specialty Stores
- Liquor Shop/Beverage Exclusive
- Airport Retail
- Online Retail
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East and Africa
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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