Global Ready to Drink Cocktails Market – Introduction
- Ready
to drink cocktail is a packaged beverage sold in the prepared form. A wide
variety of ready
to drink cocktails available in the market serve different
purposes. Alcopops are the most commonly consumed type of ready to drink
cocktail in the world. Canned and bottled cocktails are transforming the
reputation of the ready to drink cocktails category. In recent months,
most people are practicing home isolation due to the COVID-19 pandemic,
which resulted in steady increase in sale of ready to drink cocktails
through e-commerce websites and other online portals. Manufacturing
companies are also expanding their online sales channel in various
countries across the globe to increase the sale of their exclusive range
of ready to drink cocktails.
Rise in popularity of flavored ready to drink cocktails
projected to be a driving factor
- Rapid
increase in popularity of flavored ready to drink cocktails in various
countries, especially in North America and Europe, is projected to drive
the ready to drink cocktails market during the forecasted timeline. Rise
in consumption of ready to drink cocktails with a wide range of flavors
such as lime, ginger, grape, orange, cranberry, pineapple, and vanilla is
anticipated to surge the sales of ready to drink cocktails in the near
future.
- Better
awareness about ready to drink cocktails in China, India,
South Korea, and various other developing countries across the globe is also a significant factor projected to increase the demand for ready to drink cocktails in the coming years.
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Rise in sale of ready to drink cocktails through
company-owned websites and e-commerce websites
- Increase
in trend of selling ready to drink cocktails through online distribution
channels, especially on company-owned websites and e-commerce websites
such as Drizly, Ace Spirits, and various other regional e-commerce sites
across the globe is anticipated to create huge opportunities for
manufacturers and distributors of ready to drink cocktails during the
forecast period. Manufacturers and suppliers also provide discounts and
give exclusive offers and schemes to drive the sale of ready to drink
cocktails on e-commerce websites etc.
North America Considered the Largest Market for Ready to
Drink Cocktails
- Geographically,
the global ready to drink cocktails market can be divided into five
regions: North America, Europe, Asia Pacific, Middle East & Africa,
and South America
- The
market in North America is anticipated to expand at a significant growth
rate during the forecast period due to rise in popularity of flavored
ready to drink cocktails in the U.S., Canada, Mexico etc. These factors
are projected to surge the demand for ready to drink cocktails in the
region.
- Asia
Pacific accounted for major share of the global ready to drink cocktails
market in 2019. The market in Asia Pacific is anticipated to grow at a
moderate rate during the forecast period due to the growing demand for
convenience products in China, South Korea, Japan, India, and other
Southeast Asian countries, which is projected to increase the sales of
ready to drink cocktails during the forecasted timeline.
Key Players Operating in the Ready to Drink Cocktails
Market
Prominent ready to drink cocktail brands or companies are
estimated to face healthy competition during the forecasted timeline. Brands
such as Bacardi Ltd., Diageo, Mike's Hard Lemonade Co., etc. are producing
ready to drink cocktails and planning to launch a wide range of products in the
market. Companies are also undertaking mergers & acquisitions or signing
agreements with regional distributors and dealers to expand their business in
various parts of the globe. Some of the key players operating in the global
ready to drink cocktails market include:
- Asahi
Group Holdings, Ltd.
- Bacardi
Ltd.
- Brown-Forman
- Diageo
- Halewood
Wines & Spirits
- Manchester
Drinks
- Mike's
Hard Lemonade Co.
- Pernod
Ricard
- Simple
Skiff Beverages, LLC
Global Ready to Drink Cocktails Market – Research Scope
Global Ready to Drink Cocktails Market, by Alcohol Base
- Malt
Based
- Spirit
Based
- Wine
Based
Global Ready to Drink Cocktails Market, by Primary Base
- Rum
- Whiskey
- Vodka
- Wine
- Others
Global Ready to Drink Cocktails Market, by Price Category
- Low
- Medium
- High/Premium
Global Ready to Drink Cocktails Market, by Packaging Type
- Can
- Bottle
- Others
(Squeeze Packaging etc.)
Global Ready to Drink Cocktails Market, by Distribution
Channel
- Online
- Offline
- Specialty
Stores
- Hypermarket/Supermarket
- Departmental
Stores
- Others
(Liquor Stores etc.)
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