The global RTD cocktail shots market recorded a year-on-year (YoY) growth of 30.4% in 2022, surpassing US$ 3,708 Mn. The overall sales in the RTD cocktail shots market are expected to increase at a CAGR of 10.0% to reach the value of US$ 9,633 Million in 2032.
Demand for RTD cocktail shots is likely to expand due to rising cocktail consumption and a preference for fresh products, according to Future Market Insights (FMI). As a result, important players are attempting to capitalise on the trend by serving a traditional cocktail in a container composed of natural ingredients.
Ready-to-drink cocktail shots are also becoming increasingly popular because they don’t require any preparation. In addition, the availability of high-quality ready-to-drink cocktail shots is saving time and money.
In terms of packaging, the cans category is expected to dominate the RTD cocktail host market. Millennials and many craft brew enthusiasts prefer canned cocktail shots, which drives up demand for canned RTD cocktail shots.
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Key Takeaways from Market Study
- The ready-to-drink cocktail shots market is expected to expand at CAGR of 10.0% over the forecast period.
- Among the type, spirit based is expected to dominate the market, accounting for 42.0% of the revenue during the forecast period.
- Among the packaging segment, bottle segment accounted for more than 57.0% revenue share and it is expected to grow at 8.2% CAGR over the forecast period.
- Among distribution channel segment, supermarkets/hypermarkets category will account for over 70% of demand share between 2022 and 2032.
“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.
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- 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.
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.
Market Segments Covered In RTD Cocktail Shots Analysis
Type:
- Malt-based
- Wine-based
- Spirit-based
Packaging:
- Bottles
- Cans
Distribution Channel:
- Online
- Hypermarkets/supermarkets
- Liquor Stores
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- 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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