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The global Ready To Drink Cocktails Market is expected to be valued at USD 1.82 Billion in 2028, registering a CAGR of 12.1% through the forecast period. Soaring demand for varied flavored drinks with limited alcohol because of the rising health consciousness worldwide is a crucial factor promoting the market growth. Convenience, premiumization, and on-the-go trends among youth population or millennials are further fueling the market. Additionally, consumers are seeking out various convenient beverages like ready-to-drink (RTD) cocktails and alcopops, for not preferring spending time at restaurants or bars. These alcoholic beverages have gained enormous demand among the teenage population inclined towards products that cater to their social lifestyle. Furthermore, the escalating need for outdoor picnics, pool-side parties, social gatherings is further benefitting the industry for RTD cocktails.
However, a few religious and cultural beliefs across various countries, heavy taxation, and health related issues due to alcohol consumption are obstructing the industry’s development.
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The COVID-19 Impact:
The pandemic outbreak raised a global concern and had a negative impact on the sector of food and beverages, with the sudden shutdown of manufacturing facilities. As the COVID crisis has elevated, the primary focus was on curbing the SARS-CoV-2’s spread among the healthcare professionals. However, to curb revenue losses any further, the industry players are highly focusing on accelerating their operations along with fostering their supply chains.
Further key findings in the report
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For the purpose of this report, Reports and Data has segmented the global ready to drink cocktails market on the basis of product type, packaging, distribution channel, and region:
Product Type Outlook (Revenue, USD Billion, 2020 - 2028)
Packaging Outlook (Revenue, USD Billion, 2020 - 2028)
Distribution Channel Outlook (Revenue, USD Billion, 2020 - 2028)
Regional Outlook (Revenue, USD Billion, 2020 - 2028)
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Key questions answered by the report
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