Research forecast: Global RTD Alcoholic Beverages market Expected to grow at CAGR of 6.53% by 2030

 

Market Overview

The RTD Alcoholic Beverages Market is likely to show continual growth. The overall rise of the beverages industry will influence the RTD alcoholic beverages market. Market Research Future (MRFR) states that the global RTD alcoholic beverages market is poised to grow from USD 30,320.75 MN in 2022 to USD 50,199.3 MN by 2030, registering a 6.53 % CAGR the forecast period (2022-2030).

The rise in the global average consumption of alcohol per capita per year, alongside the changing lifestyles and improving per-capita disposable income, substantiates the RTD alcoholic beverages market size. Besides, changing consumer demand and the availability of endless arrays of ready-to-drink beverages accelerate market shares. There has been a rise in consumer demand for convenient and portable alcoholic beverages that are ready to consume without additional mixing or preparation.

RTD alcoholic beverage manufacturers cater to this demand by providing a range of pre-mixed cocktails, spirits, and flavored alcoholic drinks in a convenient packaging format. Additionally, the growing popularity of RTD beverages can be attributed to changing consumer preferences, a shift towards low-alcohol options, and the desire for innovative and unique flavor profiles.

Competitive Landscape:

Highly competitive, the RTD alcoholic beverages market appears fragmented with the presence of numerous players. This market witnesses continually changing consumer demands and preferences, encouraging players to widen their market penetration by including various types of flavors in their product portfolio. Players initiate strategic approaches such as mergers & acquisitions, collaboration, expansion, and product/technology launches to gain a bigger market share.

Competitive Landscape:

Highly competitive, the RTD alcoholic beverages market appears fragmented with the presence of numerous players. This market witnesses continually changing consumer demands and preferences, encouraging players to widen their market penetration by including various types of flavors in their product portfolio. Players initiate strategic approaches such as mergers & acquisitions, collaboration, expansion, and product/technology launches to gain a bigger market share.

Major Players:

Leading RTD alcoholic beverages market players include Halewood International Limited (UK), Asahi Group Holdings, Ltd. (Japan), Mike's Hard Lemonade Co. (US), The Brown-Forman Corporation (France), Pernod Ricard SA (France), Bacardi Limited (Bermuda), and Anheuser-Busch InBev SA/NV (Belgium), among others.

Segmentations:

The report is segmented into types, nature, packaging types, end-users, distribution channels, and regions. The type segment is sub-segmented into alcopop, hard seltzers, bottled cocktails, and others. The nature segment is sub-segmented into spirit-based, malt-based, wine-based, and others. The packaging type segment is sub-segmented into bottles, cans, cartons, and pouches.

The end user segment is sub-segmented into residential/retail, commercial/ HORECA, and others. The distribution channel segment is sub-segmented into on-trade and off-trade. By region, the RTD alcoholic beverages market is segmented into the Americas, Europe, Asia-Pacific, and the rest of the world.

Regional Analysis:

Europe dominates the global RTD alcoholic beverages industry with the largest market share. The increasing consumer base looking for low-alcohol alternatives to traditional alcoholic drinks is a key driving force. Besides, the large base of RTD alcoholic beverage manufacturers focusing on expanding their product portfolios substantiates the region's market share. Germany, UK, and France are the leading RTD alcoholic beverages markets in Europe, followed by Italy and Spain.

Industry/ Innovation/ Related News

May 24, 2023 -- Sapporo Breweries (Japan), a leading RTD Alcoholic Beverage provider, announced that it has jointly established an AI system with IBM Japan. The partnership has significantly reduced the time and cost of new product development, playing a key role in the alcohol firm's future innovations. Named N-Wing Star, the AI system is poised to boost sales of Sapporo's latest product, Otoko Ume Sour Salty Plum, which will be commercially sold in Japan in July.

Drivers

The RTD (Ready-to-Drink) alcoholic beverages market is driven by consumer demand for convenience, diverse flavor options, and portability. Additionally, the growing trend of social gatherings and the preference for on-the-go consumption contribute to the market's growth. Innovations in packaging, marketing strategies, and the popularity of low-alcohol and craft options further boost this market.

Opportunities 

The RTD (Ready-to-Drink) alcoholic beverages market offers significant opportunities for growth due to its convenience and popularity among consumers. Increasing demand for pre-mixed cocktails, the expansion of product varieties, and a focus on premium and innovative ingredients are key drivers. The market is expected to continue its upward trajectory.

Restraints and Challenges 

The RTD alcoholic beverages market faces challenges including strict regulatory compliance, health-conscious consumer trends, intense competition, supply chain disruptions, complex distribution, seasonal demand variations, economic downturns, consumer perceptions, environmental sustainability concerns, taxation impact, and pricing pressures. Adapting to these obstacles is essential for sustained growth in this competitive industry.

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About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide.

Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients.

Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions

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