Ready to Drink Cocktails Market to Reach Valuation of USD 2.3 Billion by 2030 – Rise of E-Commerce and Advancements in Packaging Technology Drives the Market

In terms of revenue, the Global Ready to Drink Cocktails Market is expected to reach by 2030, growing at a CAGR (Compound Annual Growth Rate) of 14.3% from 2023 to 2030.

The Ready to Drink Cocktails market refers to the segment of the alcoholic beverage industry that offers pre-mixed cocktails in convenience packaging. These beverages are designed to be consumed without additional preparation or mixing, offering consumers a quick and convenient option.

The Ready to Drink Cocktails market has increasingly gained popularity in recent years, driven by various factors. Firstly, the growing consumer demand for convenience and ease of use has led to the rise of ready-to-drink products across different industries, including alcoholic beverages. Ready to Drink Cocktails allow consumers to enjoy their favourite mixed drinks without the need for complicated recipes or bartending skills.

Furthermore, the Ready to Drink Cocktails market appeals to many consumers, including those new to drinking cocktails or who need more knowledge or resources to create their mixed drinks. The pre-mixed format eliminates the need for measuring ingredients and ensures a consistent taste profile, making it accessible to those with limited mixing skills.

Key Highlights from the Report

• Based on Alcohol Base, the Spirit-based segment dominates the Ready to Drink Cocktails market in 2022, owing to changing consumer preferences, convenience, the rise of cocktail culture, increased availability and variety of products, and effective marketing and promotion strategies.
• Based on Flavor, the Natural/Unflavored segment accounted for the substantial growth of the market during the forecast period owing to the increasing demand for healthier, clean-label options, customization opportunities, market expansion, and convenience.
• Based on Packaging, the bottles segment accounted for the market's most significant growth in 2022, owing to its convenience, portability, premiumization, variety, preservation capabilities, and increased product availability.
• Based on Distribution Channel, Hypermarkets/Supermarkets segment will dominate the market growth in 2022. This growth can be attributed to convenience, changing consumer preferences, taste & quality improvements, expanding variety, adequate packaging & branding, increased presence in retail channels, and the impact of the COVID-19 pandemic.
• Based on region, North America holds the significant market share within the Ready to Drink Cocktails market in 2022 owing to the increasing demand for convenience, preference for premium and craft cocktails, and the impact of the COVID-19 pandemic.

Market Dynamics

Advances in packaging technology have played a crucial role in the growth of the Ready to Drink Cocktails market. Manufacturers have been able to develop packaging solutions that maintain the quality and taste of the cocktails while ensuring convenience and portability. For instance, some Ready to Drink Cocktails come packaged in cans or single-serve bottles, which are easy to carry and do not require additional equipment. Packaging innovations such as resealable caps and sophisticated labeling have also improved the consumer experience. 

Furthermore, the increasing popularity of e-commerce and online retail platforms has further contributed to the growth of the Ready to Drink Cocktails market. Consumers can easily purchase their favorite Ready to Drink Cocktails from the comfort of their homes, making it more convenient than visiting a physical store. Online platforms also provide a more comprehensive range of options, allowing consumers to compare prices and read reviews before purchasing.

North America led the innovative coatings market in 2022. There has been a growing trend towards higher quality, artisanal cocktails, with consumers seeking unique flavors profiles and premium ingredients in recent years. RTD cocktail brands have responded to this demand by offering various flavors and options, including craft cocktails that mimic the taste and quality of handcrafted drinks. This has attracted a new segment of consumers who may need more time or expertise to create these cocktails from scratch but still want to enjoy a high-quality drinking experience.

The Global Ready to Drink Cocktails Market is Segmented as follows

• Alcohol Base
  • Malt-based
  • Spirit-based
  • Wine-based
• Packaging
  • Bottles
  • Cans
• Distribution Channel
  • Hypermarkets/Supermarkets
  • On-trade/Food Service
  • Online
  • Liquor Stores
• Flavour
  • Natural/Unflavored
  • Flavored
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

List of the Key Players of the Global Ready to Drink Cocktails Market is

The Absolut Company (Sweden), House of Delola LLC (Spain), Diageo PLC (UK), Brown-Forman (U.S.), Bacardi Limited (Cuba), Asahi Group Holdings Ltd. (Japan), Pernod Ricard (France), Halewood Wines & Spirits (UK), SHANGHAI Bacchus Liquor Co. Ltd. (China), Suntory Holdings Limited (Japan), Manchester Drinks Company Ltd. (UK), Anheuser-Busch InBev (Belgium)

The Global Ready to Drink Cocktails Market Scope can be Tabulated as below