The RTD bottled cocktails market is expected to be valued at USD 19,577.00 million in 2024 and is projected to grow at a CAGR of 10.90% during the forecast period (2024 to 2034). The global market is anticipated to reach a valuation of USD 40,916.00 million by 2034.
NEWARK, DE / ACCESSWIRE / August 7, 2024 / The RTD bottled cocktail market size is expected to be valued at USD 19,577.00 million in 2024. The market's progress is projected to be invigorating from 2024 to 2034, with a CAGR of 10.90%. The value CAGR between 2019 and 2023 was 8.20%. By 2034, the market value is forecasted to hit USD 40,916.00 million.
Changing consumer preferences is a key growth driver. Today's consumers are looking for more convenience and simplicity in their daily lives, and this includes their beverage choices. With RTD cocktails, consumers can enjoy a delicious cocktail without the hassle of preparing it themselves or going out to a bar. This is particularly appealing to younger consumers, who are more likely to prioritize convenience over other factors when making purchasing decisions.
The rise of the cocktail culture is impacting the market positively. In recent years, cocktails have become increasingly popular, and people are more interested in experimenting with different flavors and ingredients. However, making a cocktail at home can be time-consuming and requires a certain level of skill. RTD bottled cocktails provide a convenient and accessible way to enjoy a delicious cocktail without the hassle of mixing it yourself.
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Key Takeaways from the RTD Bottled Cocktails Market
The RTD bottled cocktail market is estimated to register a CAGR of 10.90%, surpassing a valuation of US$ 40,916.00 million by 2034.
The vodka segment is anticipated to dominate the market by type, holding a 21.5% market in 2024.
The market in India is predicted to grow at a CAGR of 8.9% from 2024 to 2034.
The market in the United Kingdom is estimated to grow at a CAGR of 7.5% over the forecast period.
The market in Germany is estimated to grow at a CAGR of 6.7% over the forecast period.
The market in China is predicted to grow at a 7.2% CAGR between 2024 and 2034.
The market in the United States is expected to grow at a CAGR of 6.8% over the projected period.
"Convenience is also a major factor in the growth of the RTD bottled cocktails market. Many people today lead busy lifestyles and don't have the time or energy to mix their own cocktails or visit a bar. RTD cocktails provide a convenient and time-saving solution that allows consumers to enjoy their favorite drinks without any hassle." - says Nandini Roy Choudhury, Client Partner at Future Market Insights
Competitive Landscape
To cater to the growing demand of consumers, RTD cocktail producers are consistently introducing new offerings in the market. In order to stay ahead of the competition, they employ various strategies such as mergers, acquisitions, partnerships, distribution agreements, collaborations, and celebrity endorsements, along with advertising, to gain a competitive edge in the industry.
Key Companies Profiled
Bottoms Up cocktail
Diageo plc
Brown Farman
Bacardi Inc.
RTM Beverages Ltd.
The Kraken
Mark Anthony Group, Inc.
High West Distillery
Pernod Ricard SA
Suntory Holdings Limited
Others
Recent Development
In 2022, Three Floyds Distilling, based in Indiana, introduced three new premium bottled cocktails - Sanctus, Barnabus, and Brutta. These cocktails have been created using rare and high-quality ingredients, keeping in mind the discerning tastes of consumers who seek an elevated at-home drinking experience. To maintain consistency with the brand's reputation for excellence, the company has used its award-winning super-premium spirits as the base for these cocktails. The objective of this new offering is to expand the brand's customer base and attract those who desire a premium and convenient cocktail experience at home.
Key Segments
By Product Type:
Cider
Gin
Vodka
Wine
Whiskey
Rum
Hard Seltzer
Cocktail
By Flavor:
Natural/Unflavored
-
Flavored
Citrus
Ginger
Apple
Vanilla
Berry
Tropical
Coconut
Jerk
Plantain
Mixed Fruits
Others
By Price Range:
Economic
Mid-range
Premium
By Sales Channel:
On-trade/Food Service
Institutional Sale
-
Retail
Hypermarket/Supermarket
Convenience Store
Specialty Stores
Liquor Shop/Beverage Exclusive
Airport Retail
Online Retail
By Packaging:
Glass
Plastic
By Region:
North America
Europe
Asia Pacific
Middle East and Africa
Latin America
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Authored by:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor's Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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