RTD Alcoholic Beverages Market: Market Outlook
RTD alcoholic beverages are among the popular beverages present in the food and beverage industry. The various types of RTD alcoholic beverages are produced by the beverage manufacturers to influence the consumers. The growing demand for ready-to-drink products is among the factor which is offering the growth opportunity to the demand for RTD alcoholic beverages. The alcoholic beverages are one of the most consumed beverages products, therefore, the ready-to-drink drink is positively impacting the RTD alcoholic beverages market.
The addition of different flavors in RTD alcoholic drinks is another considerable factor for the growing demand for RTD alcoholic beverages. The common flavor used in RTD alcoholic beverages is citrus, berries, tropical, spices, and others. As the consumer preference is inclining towards the more consumption of flavored beverages, the manufacturers are more focusing on developing the new RTD alcoholic beverages. The consumer is fascinated by the new flavored alcoholic beverages which also available in different packaging. For instance, the canned wine, high strength premix are some of the RTD alcoholic drinks which are progressively becoming the consumer favorite.
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Premiumization is key driving factor for the growth of RTD alcoholic beverages market
The RTD alcoholic beverages market is driven by the growing premiumization trend, especially among the youth population. The millennial and young generation is keen to utilize premium products. As alcohol is the widely consumed beverage, premiumization is also positively impacting the demand for RTD alcoholic beverages products. The canned formats and premium quality spirits and mixture are some of the examples of premium RTD alcoholic beverages. Moreover, new product development by the beverage manufacturers is also a considerable factor for the growth of the RTD alcoholic beverages market. The combination of fascinating packaging and new flavored alcohol is playing a vital role in influencing consumers. The additional factor of growth is increasing the shareability concept among the youth population. With the help of social media, products like RTD alcohols are increasingly spreading across the world and consumer are recognizing it a worth try. However, the growing negative influence on alcohol consumption is one of the restraining factors for the RTD alcoholic beverages market.
Global RTD Alcoholic Beverages Market: Segmentation
On the basic of product type, the global RTD alcoholic beverages market has been segmented as –
- High Strength Premix
- Malt Based RTD
- Spirit Based RTD
- Wine Based RTD
- Other Alcoholic RTDs
On the basic of flavor, the global RTD alcoholic beverages market has been segmented as –
- Mixed Fruits
On the basic of Packaging, the global RTD alcoholic beverages market has been segmented as –
- Stand-up Pouches
On the basic of Sales Channel, the global RTD alcoholic beverages market has been segmented as –
- Specialty Stores
- Online Retail
Global RTD Alcoholic Beverages Market: Key Players
Some of the key players of RTD alcoholic beverages market are Heineken, Diageo, Bacardi & Co Ltd., Anheuser-Busch InBev, SPY WINE COOLER, Brown-Forman, Craft Cocktail Company, Black Magic Beverages, LLC, Can Can Cocktails, Manchester Drinks, and others.
Opportunities for Market Participants in the RTD Alcoholic Beverages Market-
Since the demand for flavored alcohol is increasing at the global level, the market participants will be getting a beneficial opportunity in the global RTD alcoholic beverages market during the forecast period. As the consumption of ready-to-drink products is rapidly growing and that is positively impacting the growth of the RTD alcoholic beverages market. This is offering a better market scenario to the manufacturers in the global RTD alcoholic beverages market.
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Global RTD Alcoholic Beverages Market: Regional Outlook
North America is leading in the global RTD alcoholic beverages market by showing the highest value share due to the high consumption of alcoholic beverages in the region. Whereas, Europe is followed by North America is also showing the significant value share in the global RTD alcoholic beverages market and the major reason is growth in high growth in RTD products in the region. However, South and East Asia are displaying the highest growth in the global RTD alcoholic beverages market due to increasing spending on food and beverage products and growing consumption of alcoholic drinks among the working population.