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.
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.
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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.
- Halewood Wines & Spirits
- Manchester Drinks
- Mike's Hard Lemonade Co.
- Pernod Ricard
- Simple Skiff Beverages, LLC
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