The UK RTD cocktail shot industry is projected to achieve a CAGR of 9.8% through 2034, driven by manufacturers responding to the growing demand for innovative alcoholic beverages. They recognize that consistent innovation and fresh concepts are key to success in this market.
Additionally, manufacturing companies are exploring partnerships to expand their reach or establish a foothold in the sector. A notable instance is the February 2024 launch of the Absolut Vodka and Sprite RTD cocktail across the UK, a collaboration between the renowned spirit brand Pernod Ricard and the well-known soft drink manufacturer Coca-Cola Company.
Furthermore, carrageenan is extensively utilized in the formulation of dairy products, processed meats, confectionery, and sauces, contributing to market growth as the food industry continues to evolve and diversify.
The outlook for the RTD cocktail shot market over the next decade is promising, with a projected compound annual growth rate (CAGR) of 9.3%. Global sales are expected to reach USD 3,856 million in 2024, rising to USD 9,395 million by 2034.
According to Future Market Insights (FMI), the demand for RTD cocktail shots is expected to surge with growing consumption of cocktails and preference for fresh products. Hence, key playera are trying to capitalize on the trend by presenting a classic cocktail in a container made with natural ingredients.
Further, sales of ready-to-drink cocktail shots are also burgeoning as they do not require preparation. Also, availability of high-quality ready-to-drink cocktail shots are proving to be a turnkey solution that saves time and money.
In terms of packaging, the cans segment is expected to dominate the RTD cocktail host market. Millennials and several craft brew enthusiasts prefer cocktail from a can, improving the demand for canned RTD cocktail shots.
Key Takeaways from Market Study
- The ready-to-drink cocktail shots market is expected to expand at CAGR of 9.3% over the forecast period.
- The size of the RTD cocktail shot market is estimated to be USD 3,856 million in 2024.
- Sales in the United States are expected to surge at a CAGR of 11.3% through 2034.
- Canada is forecast to register a CAGR of 12.4% through 2034.
“Ease in convenience coupled with busy lifestyle has increased the demand for ready-to-drink cocktail shots. Hence, key players are introducing fresh flavors to capitalize on growing demand,” says a Future Market Insights analyst.
Competitive Landscape
Key manufacturers of global ready-to-drink cocktail shots market are focusing on research & development in order to develop innovative and unique product offering. In addition to this, these key players in the ready-to-drink cocktail shots market are also concentrating on merger, acquisition and joint ventures to expand their geographical presence and to increase the existing production capacity.
- In 2018, Bacardi Ltd announced the completion of its acquisition of PATRON brand of Patron Spirits International AG, the world’s best-selling ultra-tequila. With this acquisition, Bacardi becomes the leading spirits company in the ultra-segment in the United States, as well as the second largest in terms of market share by value.
- In 2020, Bacardi Ltd, the world’s largest family-owned spirits company, announced the acquisition of batched cocktail and premium crafted company TAILS.
Leading RTD Cocktail Shot Brands
- Halewood Wines & Spirits
- Asahi Group Holdings Ltd.
- Diageo plc
- Bacardi Limited
- Brown-Forman
- Pernod Ricard
- Shanghai Bacchus Liquor Co. Ltd.
- Anheuser-Busch InBev
- Suntory Holdings Limited
- Manchester Drinks Company Ltd.
Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the global ready-to-drink cocktail shots market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
Explore In-Depth Analysis- Click Here to Access the Report
Key Segments of Market Report
By Type:
Based on the type, the RTD cocktail shot market is divided into malt-based, wine-based, and spirit-based.
By Distribution Channel:
Based on the distribution channel, the industry is categorized into hypermarkets/ supermarkets, liquor stores, online channels, and bars and restaurants.
By Packaging:
Ready-to-drink cocktail shots come in cans and bottles.
By Region:
The sector has been analyzed with the following regions covered: North America, Latin America, Europe, South Asia, East Asia, Oceania, and 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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