Global Ready to Drink Cocktail Market Size Likely to Expand at a CAGR of 12.1% By 2033

The CMI Team’s most recent market research predicts that from 2024 to 2033, the global ready-to-drink cocktail market will grow at a CAGR of 12.1%. In 2024, the market size is projected to reach a valuation of USD 1,033.1 Million. By 2033, the valuation is anticipated to reach USD 2,887.7 Million.

Ready To Drink Cocktail Market: Growth Factors and Dynamics

• Convenience and Accessibility: Ready-to-drink cocktails offer consumers convenience by eliminating the need for cocktail preparation, making them an attractive option for busy lifestyles and on-the-go consumption.

• Expanding Millennial and Gen Z Demographics: Younger generations, particularly Millennials and Gen Z, seek convenience without compromising on taste or quality. Ready-to-drink cocktails cater to their preferences for convenience, variety, and social experiences.

• Rise of Home Entertaining: The trend of socializing and entertaining at home has surged, especially post-pandemic. Ready-to-drink cocktails provide an easy solution for hosting gatherings, offering bar-quality drinks without needing bartending skills or extensive ingredients.

• Innovative Flavors and Packaging: Manufacturers are continuously innovating with new and unique flavors and eye-catching packaging designs to capture consumer attention and differentiate their products in a crowded market.

• Health-Conscious Choices: With increasing health awareness, there’s a growing demand for low-sugar, low-calorie, and natural ingredient-based ready-to-drink cocktails. Manufacturers are responding by introducing healthier options to cater to health-conscious consumers.

• Globalization and Market Expansion: Ready-to-drink cocktails are gaining popularity not only in traditional markets but also in emerging markets worldwide. As consumer tastes become more globalized, there’s a growing opportunity for market expansion and product diversification on a global scale.

• Marketing and Branding: Effective marketing campaigns and branding strategies are crucial in driving growth in the ready to drink cocktail market. Companies invest in innovative marketing tactics, influencer collaborations, and experiential events to build brand awareness and engage consumers, driving sales and market expansion.

• E-commerce and Digitalization: The rapid growth of e-commerce platforms and digitalization has significantly impacted the ready to drink cocktail market. Consumers increasingly prefer the convenience of online shopping, leading to the proliferation of online liquor stores and delivery services. This shift towards digital channels gives manufacturers new opportunities to reach consumers directly and expand their market presence.

• Seasonal and Occasional Demand: Ready-to-drink cocktails experience surges in demand during peak seasons and occasions such as holidays, festivals, and summer months. Manufacturers capitalize on these trends by offering seasonal flavors and limited-edition releases, creating excitement and driving sales during specific times of the year.

Ready To Drink Cocktail Market: Partnership and Acquisitions

• In 2023, Jennifer Lopez unveiled ‘The House of Delola,’ featuring a premium lineup of spirit-based and organic RTD cocktails. Available in Bella Berry Spritz (10.5% ABV), L’Orange Spritz (10.5% ABV), and Paloma Rosa Spritz (11.5% ABV), these low-calorie drinks boast fruit-infused flavors, offering a sophisticated drinking experience.

• In 2022, Diageo plc unveiled Crown Royal RTD cocktails, catering to whisky and cocktail enthusiasts. The range offers three classic Crown Royal serves infused with apple, cranberry, cola, and peach tea flavors, providing a convenient and flavorful option for discerning drinkers.

Report Scope

Ready To Drink Cocktail Market: COVID-19 Analysis

The COVID-19 pandemic has significantly impacted the Ready-To-Drink Cocktail Market, with the industry experiencing positive and negative effects. Here are some of the key impacts:

• Disruption in Supply Chain: The COVID-19 pandemic disrupted global supply chains, leading to shortages of key ingredients and packaging materials for ready-to-drink cocktails, impacting production and distribution capabilities.

• Closure of On-Premise Channels: The closure of bars, restaurants, and other on-premise channels during lockdowns significantly reduced the consumption of ready-to-drink cocktails, decreasing sales and revenue for manufacturers.

• Focus on Home Consumption: With consumers spending more time at home, manufacturers shifted their focus towards promoting ready-to-drink cocktails for home consumption through marketing campaigns, online promotions, and partnerships with online retailers.

• Introduction of New Products and Flavors: To reignite consumer interest and stimulate demand, companies introduced new products and flavors, focusing on innovative and trending options to capture market attention.

• Expansion of E-commerce Channels: Manufacturers accelerated their e-commerce strategies, enhancing online platforms, and partnering with third-party delivery services to make ready-to-drink cocktails more accessible to consumers through online channels.

• Health and Wellness Positioning: Capitalizing on the growing health-conscious trend, companies introduced healthier ready-to-drink cocktail options, such as low-sugar, low-calorie, and natural ingredient-based beverages, to cater to health-conscious consumers.

• Reopening of On Consumer Engagement and Education: Manufacturers invested in consumer engagement and education initiatives to rebuild trust and confidence in the safety and quality of ready-to-drink cocktails. Through virtual tastings, interactive workshops, and educational content, companies aimed to reconnect with consumers, communicate product benefits and foster brand loyalty in a post-pandemic landscape.

• Premise Channels: As restrictions eased and on-premise channels reopened, manufacturers focused on rebuilding partnerships with bars, restaurants, and hospitality venues, providing support through promotional activities, training programs, and tailored product offerings to revitalize sales in these channels.

In conclusion, the COVID-19 pandemic has had a mixed impact on the Ready to Drink Cocktail Market, with some challenges and opportunities arising from it.

List of the prominent players in the Ready To Drink Cocktail Market:

• Bacardi Limited
• Diageo plc
• Brown-Forman Corporation
• Pernod Ricard SA
• Beam Suntory Inc.
• Campari Group
• The Coca-Cola Company
• Anheuser-Busch InBev
• Constellation Brands Inc.
• Sazerac Company Inc.
• Asahi Group Holdings Ltd.
• & J. Gallo Winery
• Halewood Wines & Spirits
• Cutwater Spirits
• Mark Anthony Brands International
• Others

The Ready To Drink Cocktail Market is segmented as follows:

By Alcohol Base

• Malt-based
• Spirit-based
• Wine-based
• Others

By Packaging

• Bottles
• Cans
• Others

By Distribution Channel

• Hypermarkets/Supermarkets
• Online
• Liquor Stores
• Others

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Taiwan
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America