Global Ready To Drink Cocktail Market Size, Share, Growth Analysis, By Type(Wine-based, Spirit-based), By Packaging(Cans, Bottles), By Distribution Channel(Online, Offline) - Industry Forecast 2022-2028

Ready to Drink Cocktail Market was valued at USD 0.81 billion in 2021, and it is expected to attain market size of USD 2.17 billion by 2028, at a CAGR of 15.10% over the forecast period (2022-2028).

Cocktails that are ready to drink are flavoured, carbonated alcoholic drinks with lower calorie and carbohydrate counts than other alcoholic beverages. The industry is expanding as a result of growing consumer demand for alcoholic beverages with low calorie counts and gluten-free options. The rise of the ready-to-drink cocktail business is also being aided by rising disposable income and overall alcoholic beverage spending. The global market has seen a large growth in disposable income as a result of the rising income levels, which has led to more spending on alcoholic beverages.

Because to successful social media marketing initiatives that started positioning ready to drink cocktails as a "healthier" alcohol option, ready to drink cocktails have experienced tremendous growth in popularity over the past few years. In addition, the market for ready-to-drink cocktails worldwide is expanding at a faster rate as a result of a number of producers entering the market, offering a wide range of goods, and launching new items often. For instance, a Swedish company called Kopparberg introduced a line of cocktails drinks that were ready to consume in the United Kingdom in May 2020.

Top-down and bottom-up approaches were used to estimate and validate the size of the Ready to Drink Cocktail Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Segments covered in this report

For better understanding the global ready to drink cocktail market, we have segmented the market by distribution channel, packaging, type, and region. By distribution channel, the market is bifurcated into online and offline. By packaging global ready to drink cocktail market is sub-segmented into bottles and cans. By types, the Ready To Drink Cocktail Market is categorized into three segments namely wine-based, spirit-based, and malt-based. We have also segmented the region into North America, Europe, Asia-Pacific, South America, and MEA.

Driver

One of the major factors propelling the growth of the ready-to-drink cocktail market is the rise in consumer demand for innovative, convenient, and refreshing drinks. Market expansion has been aided by consumers' shifting taste preferences and openness to experimenting with new flavours of alcoholic and non-alcoholic beverages. For customers who find it difficult to resist trying new flavours, manufacturers are also introducing trendy flavours like passion fruit, ginger beer, and pickle juice.

Cocktails that are ready to drink have capitalised on modern health consciousness, especially among millennials. Most gluten-free ready-to-drink cocktails have around 100 calories and only two grammes of carbohydrates, despite the fact that many are made with fermented sugars. One of the main factors influencing the growth of the ready-to-drink cocktail market is the fact that an average beer only has about 150 calories and 15 to 30 grammes of carbs. There are also ready-to-drink cocktails without gluten on the market. More importantly, even though ready-to-drink cocktails like White Claw contain fermented sugars, there are only 2 grammes of added sugar in total. For instance, each bottle of Mike's Hard Lemonade contains 32 grammes of sugar.

Unlike earlier alcoholic beverages that attempted to appeal to both men and women equally, ready-to-drink cocktails have succeeded in breaking the glass ceiling and have the potential to significantly increase the market size for these beverages. For many years, beer has been promoted as a "manly beverage," whilst wine and its derivatives have been promoted as "mother juice." Wine spritzers, on the other hand, were portrayed as a stress reliever for women who were self-conscious about their appearance, creating brands like Skinnygirl and Little Black Dress.

Restraint

Due to the perception that ready-to-drink cocktails are not as convenient as they seem, the market for them is growing somewhat slowly. They are not as convenient to travel or store, and they are frequently more expensive than purchasing the materials separately. Additionally, a lot of people believe that homemade drinks have better flavour than ready-to-drink cocktails.

Market Trends

One of the major trends in the global market for ready-to-drink cocktails is the rise in popularity of flavoured alcoholic beverages among millennials. Easily accessible at reasonable pricing in supermarkets, convenience stores, and wine shops. To boost their earnings, online retailers have begun to diversify their product offerings by incorporating alcoholic beverages like ready-to-drink cocktails. Demand for cocktails that have fewer calories and carbohydrates than beers and other drinks has increased as awareness of health issues has increased. manufacturers are paying more attention to building out their distribution networks in order to better penetrate the market with their marketing strategies.