Global RTD Alcoholic Beverages Market is anticipated to touch USD 32 billion at a 3% CAGR between 2019-2024, states the latest Market Research Future (MRFR) report. RTD or ready-to-drink alcoholic beverages, simply put, are premixed alcoholic solutions that are available in the prepared form, ready to be consumed. Such drinks are versatile and regarded as sophisticated cocktails. Their alcoholic content is lower in comparison to other alcoholic beverages, thus are gaining wide acceptance. Ready-to-drink alcoholic beverages contain alcohol mixed with fruit juice or other soft drinks. Such drinks can contain malt, wine, or spirit that improves its flavors and taste.
Various factors are propelling the RTD alcoholic beverages market. Such factors, according to the latest Market Research Future report, include new product development and innovative packaging, research and experiments with new flavors, burgeoning demand for long drinks and cocktails, inclination towards luxury for rise in disposable income, growing awareness about ready to drink alcoholic beverages, and increasing preference for ready to drink cocktails by millennials.
On the contrary, increasing anti-alcohol campaigns, stringent rules & regulations on the RTD alcoholic beverage advertising, easy availability of alternative products, cultural beliefs, vivid duties and taxation, and harmful effects of consuming RTD alcoholic beverages are factors that may hamper the RTD alcoholic beverages market growth during the forecast period.
Notable players profiled in the RTD Alcoholic Beverages Market Size include Heineken N.V. (Netherlands), Global Brands Ltd (UK), Halewood International Limited (UK), Shanghai Bacchus Limited (China), Davide Campari Milano SpA (Italy), Molson Coors Brewing Company (US), The Brown-Forman Corporation (US), Mike's Hard Lemonade Co. (US), Bacardi Limited (Bermuda), Asahi Group Holdings, Ltd. (Japan), Pernod Ricard SA (France), Diageo PLC (UK), Suntory Holdings Limited (Japan), Carlsberg Breweries A/S (Denmark), and Anheuser-Busch InBev SA/NV (Belgium). Key players have incorporated specific strategies to create a niche in the market, such as research and development activities, mergers and acquisitions, collaborations, partnerships/joint ventures, product launch and innovations, and others.
November 2019: The Heart Distillery has released canned ready to drink gin and tonics to allow consumers to take pleasure of the gin cocktail in a convenient and portable fashion.
The Market Research Future report offers a complete segmental analysis of the RTD alcoholic beverages market based on distribution channel, packaging type, and base type.
By base type, the RTD alcoholic beverages market is segmented into gin, vodka, rum, whiskey, and others. Of these, the rum segment will lead the market during the forecast period as various flavors easily infuse in rum. This will be followed by the vodka segment.
By packaging, the RTD alcoholic beverages market is segmented into cans and bottles. Of these, the bottle segment will have the largest share in the market during the forecast period for its high permeability.
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By distribution channel, the RTD alcoholic beverages market is segmented into non-store-based and store-based. The store-based is again segmented into specialty stores, supermarkets and hypermarkets, and others. Of these, the store-based segment will have the maximum share in the market during the forecast period owing to the availability of RTD alcoholic beverages in plenty in supermarkets & hypermarkets.
By region, the RTD alcoholic beverages market report covers the latest trends and growth opportunities across Europe, North America, the Asia Pacific, and the Rest of the World. Of these, Europe will lead the market during the forecast period for the emergence and presence of key market players, a significant rise in the production rate and sales, and high alcohol consumption.
The RTD alcoholic beverages market in the APAC region will grow at the highest CAGR and at the fastest pace for its increasing consumption by millennials.
The RTD alcoholic beverages market in North America will have a healthy growth during the forecast period. Various factors are propelling the growth of the RTD alcoholic beverages market in the region, such as high accessibility of RTD alcoholic beverages, the shift in consumer lifestyle, inclination towards luxury, and innovation & development of new products. These beverages are highly preferred for their low alcoholic content, which again is adding to its growth. The US followed by Canada are the chief contributors in this region.
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