Global RTD Alcoholic Beverages Market is projected to be valued at USD 17,134.3 Million by 2025, expanding at a CAGR of 3.44% during the forecast period. RTD alcoholic beverages are convenience drinks that can be consumed immediately post their purchase and at any time and place. Ready-to-drink alcoholic beverages are contributing to the growth of the overall alcoholic beverages segment as they are being perceived as convenient and on-the-go alcoholic drinks. Consumers are looking for convenience, and alcoholic beverages such as ready-to-drink cocktails, and alcopops are offering consumers the same, as the consumers no longer just sit at a bar or a restaurant to enjoy an alcoholic drink. RTD alcoholic beverages are gaining demand across the global populace, especially among the millennials, who associate ready-to-drink beverages with convenience, premiumization, innovation, and a perfect blend in their social lifestyle. Alcoholic beverages in ready-to-drink formats are no longer perceived as cheap and tacky, rather, they provide style, convenience, and social connection. Manufacturers are launching products in new packaging such as cans, boxes, and Tetra Pak, which provide for more convenient and portable options to the consumers. Ready-to-drink alcoholic beverages are gaining demand as a convenience drink in social gatherings, outdoor picnics, pool-side parties and other such occasions that require relaxing and unwinding from the daily-routine chores.
Hence, a rising association of RTD beverages, including alcoholic beverages, with convenience is boosting the growth of the global RTD alcoholic beverages market and is expected to continue to do so during the upcoming years.
Market Research Future identified Asahi Group Holdings, Ltd. (Japan), Halewood International Limited (UK), Mike’s Hard Lemonade Co. (US), Bacardi Limited (Bermuda), The Brown-Forman Corporation (France), Anheuser-Busch InBev SA/NV (Belgium), Pernod Richard (France), Diageo PLC (UK), Beam Suntory Inc.(US), and The SHS Group (UK) as the Key Players in the Global RTD Alcoholic Beverages Market.
The Global RTD Alcoholic Beverages Market has been segmented based on Type, Packaging Type, Distribution Channel, and Region.
By Type, the global market has been divided into alcopop, cocktail pre-mixes, and bottled cocktails. The alcopop segment has accounted for a significant market proportion of 58.49% in the global RTD alcoholic beverages market in 2018. Alcopops are flavored alcoholic beverages with reduced alcohol content i.e. approximately 3-7% alcohol by volume. The term alcopop is interchangeably used with other terms in the different countries such as RTD alcoholic beverages, pre-packaged spirits or premium packaged spirits, flavored alcoholic beverage, and flavored malt beverage. The most consumed alcopops are rum-based, whiskey-based, and vodka-based. In the current market scenario, carbonated soft drink manufacturers are venturing into the low-alcoholic beverages market. For instance, in May 2018, The Coca-Cola Company launched its first low-alcoholic beverage, a lemon-flavored alcopop, in Japan. However, the bottled cocktails segment is projected to witness the highest CAGR of 3.54% during the forecast period. The growth of the segment can be attributed to the surging demand for bottled cocktails in both off-trade and on-trade markets. Bottled cocktails are ready-to-serve alcoholic drinks rather than a ready-to-drink beverage, as it is premixed and must be poured on ice prior to consumption. It is a very lucrative segment in the global market as bottled cocktails are gaining demand in retail stores, bars/restaurants, theaters, and in hotel minibars as premium offerings. Majorly consumed products under this segment are long drinks and shots.
By Packaging Type, the global market has been divided into bottles, cans, and others. The bottles segment accounted for the maximum market share in 2018. Bottles are the most popular packaging solutions among beverage manufacturers. Consumers are mainly attracted to glass bottles as they are durable, hygienic, and aesthetically pleasing. Bottles segment accounted for the major market share in the RTD alcoholic beverages market due to the various factors. One of the major factors for the rising growth of bottles segment is their high holding capacity. However, the cans segment is projected to witness the highest CAGR during the forecast period. The demand for can packaging is increasing at a high pace owing to convenience. On-the-go lifestyles of the consumers are anticipated to drive the sales of can packaging. Manufacturers of RTD alcoholic beverages have started using recycled aluminum packaging material owing to an increasing focus on sustainable environmental growth.
Based on Distribution Channel, the global RTD alcoholic beverages market has been classified into store-based and non-store-based. The store-based segment is further segmented into supermarkets & hypermarkets, specialty stores, and others. The store-based accounted for the larger market share in 2018. Consumers prefer store-based channels as they provide a one-stop shopping experience. However, the non-store-based segment is projected to expand at a higher CAGR during the forecast period.
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Geographically, the Global RTD Alcoholic Beverages Market has been categorized as North America, Europe, Asia-Pacific, and the rest of the world. As per MRFR analysis, Europe dominated the market, accounting for the largest share in 2018. North America RTD alcoholic beverages market accounted for the second-largest market share in 2018. Asia-Pacific is projected to register the highest CAGR of 4.32% during the forecast period.
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