There is a quite fine line between the ready to drink (RTD) and ready to serve (RTS) as both the terms are often used in collocation. But when it comes to alcoholic drinks, the definition is quite clear. Ready to Serve cocktails come in small sized packaging typically of the size 330 ml, thereby making it convenient for direct drinking whereas RTS cocktails are packed in a typical size of 1 litre container (mostly bottled glass) deeming it functional for serving.
Furthermore, the RTS cocktails have a high ABV (alcohol by volume) than that of the RTD cocktails. The introduction of RTS cocktails have helped in cutting down preparation time of cocktails by the bartenders, thus reducing lead time by enhancing customer service.
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The product was launched to reduce the hassle of preparing cocktails at house parties, barbeque nights, outings, and at large scale events such as music festivals, concerts, and other mega events to cater to larger crowds more aptly.
The ability of ready to serve cocktails to provide economies of scale in service sectors such as the HoReCa is quite impressive and therefore, the global ready to serve cocktails market is expected to register a strong positive growth rate over the forecast period.
New and Revolutionary Concepts to Further Drive the Market’s Growth
With the health and wellness trend gaining popularity worldwide, it is important for market players to come up with products that are appealing to the health conscious consumers. A product packed with high quality ingredients and delivers on taste and function would showcase a perfect spirit mix to compliment the healthy lifestyle.
For Instance, Coco21 is a premium, ready-to-serve cocktail, made with pure coconut water and premium vodka distilled five times. It is also pasteurized allowing it to stay fresh for 2 years when unopened. The concept of gluten-free vodka that mixes smoothly with coconut water for clean, natural taste is surely expected to turn the consumer’s eyeballs.
Global Ready to Serve Cocktails: Key Players
Some of the key players manufacturing ready to serve cocktails are as follows –
- Austin Cocktails
- Bamboozlers
- Edwin + Sons Cocktail Co.
- On The Rocks
- Plain Spoke Cocktail Co.
- Koloa Rum
- Malibu
- Coco21
- Bacardi Limited
- Artista Cocktail co.
- many others.
Opportunities for Global Ready to serve Cocktails Market Participants
North America and Europe regions dominate the global ready to serve cocktail market registering a combined market share of nearly 80%. The market is also bound to register the highest growth rates at these regions over the forecast period. Oceania is also expected to show growing demand for RST cocktails, a potential market for emerging players.
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The South Asian and East Asian markets are expected to catch up soon with the West owing to the rapid urbanization and growing party culture. Looking at the optimistic scenario, the whole of Asian market could overtake the other leading regions in terms of market volume share within the span of 20 years, indicating potential returns on investments for market players investing in the Asian region.
Latin American consumers are primarily known for being rigid drinkers but with the millennials showing interests towards sophisticated drinks, the market is bound to show a moderate growth arte over the forecast period. The MEA region is estimated to grow at the slowest growth rate owing to cultural aspects.
COVID-19 Impact
Since, the ready to serve cocktails are largely served at hotels, restaurants, and bars, and since all of the HoReCa segment was shut down as a measure to prevent the spread of corona virus, the market suffered huge losses in the worldwide COVID-19 lockdown. However, the market is expected to recover at an exponential rate post the COVID-19 pandemic.
The ready to serve cocktails market report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions.
By doing so, the research report serves as a repository of analysis and information for every facet of the ready to serve cocktails market, including but not limited to: regional markets, primary ingredient, additive ingredient, container size, alcohol content, and sales channel.
The Report Covers Exhaustive Analysis on
- Ready to serve cocktails market segment
- Ready to serve cocktails market dynamics
- Ready to serve cocktails market size
- Ready to serve cocktails supply and demand
- Current trends/issues/challenges pertaining to ready to serve cocktails market
- Competition landscape and emerging market participants in ready to serve cocktails market
- Technology related to production/processing of ready to serve cocktails
- Value chain analysis of the Ready to serve cocktails market
Regional Analysis Includes
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Rest of Latin America)
- Europe (Germany, U.K., France, Italy, Spain, BENELUX, Poland, Russia, Nordic, Rest of Europe)
- East Asia (China, Japan, South Korea)
- South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
- Oceania (Australia, New Zealand)
- Middle East & Africa (GCC Countries, South Africa, Rest of MEA)
The ready to serve cocktails market report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases).
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Global Ready to Serve Cocktails: Market Segmentation
Based on Primary Ingredient :
- Malt-based
- Wine-based
- Spirit-based
- Others
Based on Additive Ingredient :
- Alcoholic
- Non-alcoholic
Based on Container Size :
- Less than 750 ml
- 750-1500 ml
- More than 1500 ml
Based on Alcohol Content :
- 5-10%
- 10-15%
- >15%
Based on Sales Channel :
- Liquor Store
- Hypermarket/Supermarket
- Convenience Store
- Online Retail
- HoReCa
- Others
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