According to Future Market Insights (FMI), the RTD cocktail market is expected to be valued at USD 35,321.4 million in 2024 and USD 56,652.7 million by 2034. The demand for RTD cocktails is likely to increase at a CAGR of 4.8% from 2024 to 2034.
Rising consumer demand for convenient, ready-to-drink (RTD) cocktails is driving growth in the RTD cocktail industry. The introduction of unique flavors, combinations, and creative packaging is expected to further fuel demand throughout the forecast period. Additionally, innovative marketing strategies, such as partnerships with influencers and celebrities, employed by leading RTD cocktail brands are anticipated to accelerate market expansion.
Manufacturers are focusing on research and development to enhance brand loyalty and drive sales, including the launch of new formulations or blends tailored to specific consumer preferences.
The ease of portability and the convenience of enjoying RTD cocktails anywhere, anytime, play a significant role in their growing popularity. Moreover, the availability of these cocktails across multiple distribution channels—such as liquor stores, e-commerce platforms, and retail outlets—is expected to further support sales growth.
Ongoing product innovation is essential in creating a strong brand identity by offering distinctive solutions to consumers. These continuous product launches are projected to propel the RTD cocktail market in the coming years.
A Chicago-based company, Crafthouse Cocktails, for instance, launched two new limited-edition RTD cocktails. The new flavors include Vodka Soda, Gin, and tonic, and they are priced around US$ 5.99 per can. Similarly, due to the rising demand for RTD cocktails in India, Radico Khaitan, under its vodka brand ‘Magic Moments,’ launched three new variants: cola, cosmopolitan, and mojito.
Key Takeaways from the RTD Cocktail Market Report:
- The global RTD cocktail market is expected to reach a valuation of USD 35,321.4 million by 2024.
- Global demand for RTD cocktails is expected to soar at 8% CAGRover the forecast period.
- North America is projected to hold a dominant value share of 6% in the global market by 2034.
- Germany’s market is estimated to witness a value CAGR of 1% during the projection period.
- The market is projected to reach USD 56,652.7 million by 2034.
Competitive Landscape
Diageo plc, Pernod Ricard, Bacardi Limited, Brown-Forman Corporation, Beam Suntory Inc., and Campari Group are the key RTD cocktail manufacturers. Leading companies are directing on expanding their portfolios by launching new products. Key manufacturers use strategies such as partnerships, advertisements, agreements, acquisitions, and mergers to stay relevant in the market.
For instance,
- In 2023, Topo Chico Spirited launched its new range of RTD cocktails.
- In 2023, Molson Coors launched its new non-alcoholic RTD cocktail range, Roxie, to recreate the craft cocktail experience.
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Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global RTD cocktail market, presenting historical demand data (2019 to 2023) and forecast statistics for the period from 2024 to 2034.
The study incorporates compelling insights on the RTD cocktail market based on sales channels (on-trade/ food service, institutional sales [hospitality], retail and online retail), product type (ciders, gin, vodka, wine, whiskey, rum, hard seltzer, cocktail [bourbon, tequila]), packaging type (cans, premixed cocktail shots, bottles), and flavor (unflavored and flavored) across regions.
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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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