The global ready-to-drink cocktails market size is expected to reach USD 1,550.4 million by 2028 according to a new study by Polaris Market Research. The report “Ready-to-drink Cocktails Market Share, Size, Trends, Industry Analysis Report, By Type (Malt-Based, Spirit-Based, Wine-Based); Packaging (Bottles, Cans); By Distribution Channel (Hypermarkets/Supermarkets, Online, Liquor Stores), By Regions; Segment Forecast, 2021–2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The factors favoring the global industry growth include the growing penetration of low ABV (alcohol by volume) drinks coupled with the growing number of bars and lounges may attract a large group of young population, which will further support the industry growth in the near future. In addition, the increasing proliferation of smartphones is directly linked with the online distribution of ready-to-drink cocktails, which may also fuel the demand of the global industry. Furthermore, a rise in disposable income and increase in the standard of living may lead the industry growth all over the world.
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A spike in economic development and intensifying urbanization is a major driving factor for industry growth. The ever-increasing urban population witnesses a significant availability of numerous convenience and chain stores that offer ready-to-drink cocktails to many people. According to migrationportaldata.org, most of the world’s population is exists in urban areas. From 2018, the share of the world population may rise present in urban regions may grow by 55 to 60% by 2030. Therefore, it may support the industry growth in the forecasting years.
Major participants such as Anheuser-Busch InBev, Asahi Group Holdings, Ltd., Bacardi Limited, Biosint S.p.A., Brown-Forman, Diageo plc, Halewood Wines & Spirits, Manchester Drinks Company Ltd., Pernod Ricard, Shanghai Bacchus Liquor Co., LTD, Suntory Holdings Limited are some of the key players operating in the global industry.
Companies in the are focusing on product launches to stay competitive. For instance, in May 2021, Bacardi introduced its plume and petal brand, through which the company revealed its opening of vodka-based premix. The product launch comprises three flavors range which are lemon spritz, peach spritz, and cucumber spritz. Similarly, In April 2021, Day breaker Vodka Cocktails is a new product line introduced by the Two Roads Brewing Company, which contains seven percent ABV ready-to-drink alcohol beverage associated with sparkling water vodka as well as 100% real fruit juice. Some flavors present in this product line are lemonade, blood orange, and cranberry-lime.
Polaris Market Research has segmented the ready-to-drink cocktails market report on the basis of type, packaging, distribution channel, and region:
Ready-to-drink Cocktails, Type Outlook (Revenue – USD Million, 2016 – 2028)
- Spirit Based
Ready-to-drink Cocktails, Packaging Outlook (Revenue – USD Million, 2016 – 2028)
Ready-to-drink Cocktails, Distribution Channel Outlook (Revenue – USD Million, 2016 – 2028)
- Liquor Stores
Ready-to-drink Cocktails, Regional Outlook (Revenue – USD Million, 2016 – 2028)
- North America
- Asia Pacific
- South Korea
- Central & South America
- Middle East & Africa
- Saudi Arabia
- South Africa