Ready To Drink Cocktails Market Size, Share & Trends Analysis Report By Type (Wine, Spirit, Malt-based), By Packaging (Cans, Bottles), By Distribution Channel, By Region, And Segment Forecasts, 2021 - 2028
New York, Sept. 23, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Ready To Drink Cocktails Market Size, Share & Trends Analysis Report By Type, By Packaging, By Distribution Channel, By Region And Segment Forecasts, 2021 - 2028" - https://www.reportlinker.com/p06096541/?utm_source=GNW
Ready To Drink Cocktails Market Growth & Trends
The global ready to drink cocktails market size is expected to reach USD 1775.1 million by 2028, registering a CAGR of 12.0% over the forecast period. The growing demand for flavored drinks with low alcohol content due to rising health concerns and increasing consumer inclination toward Ready-To-Eat (RTE) and RTD products, owing to their busy lifestyles and hectic work schedules, is driving the market growth. In terms of type, the spirit-based segment led the market in 2020 and is anticipated to maintain its dominance during the forecast period. Spirit-based drinks have high demand owing to their low alcohol content and the availability of various flavors. The growing demand for low content alcohol-based flavored drinks due to the rising health concerns is anticipated to drive the segment over the forecast period.
The bottle packaging segment accounted for the largest share in 2020.Aluminum shortage in countries has led to the introduction of RTD cocktails in glass bottles, which became popular worldwide over a period of time.
Furthermore, increased awareness regarding water and land pollution has prompted the majority of players to launch their products in glass bottles.The supermarkets/hypermarkets distribution channel segment accounted for the largest revenue share in 2020.
Supermarkets are well-established distribution channels for manufacturers of RTD cocktails and play a key role in the market since they have a wide consumer reach.The improving scenario of the retail industry is expected to boost the segment growth over the forecast period.
The market is fragmented with the presence of a large number of global and regional players.
Ready To Drink Cocktails Market Report Highlights
• Asia Pacific is expected to register the fastest CAGR during the forecast years
• The low alcohol level and lower price of RTE cocktail drinks as compared to cocktails served at bars make them an ideal choice for young consumers in the Asia Pacific region
• The cans packaging segment is expected to register the fastest CAGR from 2021 to 2028
• The segment growth is credited to the rising consumer demand for convenience and ease-to-carry packaging
• North America led the global market in 2020 due to the high demand for drinks with low alcohol content
• An increased number of breweries and distilleries in the U.S. and Canada are incorporating RTD alternatives, which will drive the regional market growth over the forecast years
Read the full report: https://www.reportlinker.com/p06096541/?utm_source=GNW
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