RTD Alcoholic Beverages Market | Share, Emerging Audience and COVID-19 Pandemic Impact by 2025
Market Highlights
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.
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.
Key Players
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.
Segment Analysis
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 2020. 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.
Regional Analysis
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 2020. North America RTD alcoholic beverages market accounted for the second-largest market share in 2020. Asia-Pacific is projected to register the highest CAGR of 4.32% during the forecast period.
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Key Findings of the Study
The Global RTD Alcoholic Beverages Market is projected to register a growth rate of 3.44% from 2019 to 2025. The increasing consumer preference towards low alcoholic beverages is anticipated to propel the growth of the global RTD alcoholic beverages market during the forecast period.
Alcopop segment is estimated to retain its prominent share by 2025. The bottled cocktails segment is anticipated to register the highest growth rate of 3.54% during the forecast period.
The bottles segment is estimated to retain its prominent share by 2025. The cans segment is anticipated to register the highest growth rate of 3.65% during the forecast period.
The store-based segment is estimated to retain its prominent share by 2025. The non-store-based segment is anticipated to register a higher growth rate of 3.91% during the forecast period.
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