The RTD alcoholic beverages market accounted for US$ 26,447.9 Mn in 2018 and is expected to grow at a CAGR of 4.6% during the forecast period 2019 – 2027, to account for US$ 39,428.9 Mn by 2027.
RTD alcoholic beverages are gaining popularity over the past few years and are mostly consumed as cocktails and long drinks. The growing preference for RTD cocktails by millennial in developed countries and the easy availability of these products in the market is driving the growth of the RTD alcoholic beverages market. Moreover, the alcohol content in RTD alcoholic beverages is low as compared to other alcoholic drinks. The young population is shifting their alcohol consumption habits from beer, wine, and spirits to RTD alcoholic beverages.
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Top Key Players:- nheuser-Busch InBev NV, Asahi Group Holdings, Ltd, Bacardi Limited, Carlsberg Breweries A/S, Suntory Holdings Limited, Brown-Forman, Heineken N.V., Diageo plc., Davide Campari-Milano S.p.A. And Molson Coors Brewing Company
Global RTD Alcoholic Beverages Market, by Base Type
Global RTD Alcoholic Beverages Market, by Packaging Type
Global RTD Alcoholic Beverages Market, by Distribution Channel
• Supermarkets and Hypermarkets
• Specialty Stores
Under the base type segment, the vodka segment accounted for the largest share in the global RTD alcoholic beverages market. Vodka is called a neutral grain spirit because the standard method for making it is by fermenting and distilling grain. The grains used for vodka production are corn, rye, wheat, or any other grain. Vodka is the most commonly distilled spirit found in cocktails and mixed drinks.
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Increasing demand for vodka as a cocktails ingredient in restaurants and bars is expected to boost the market growth of vodka over the forecast period. Moreover, millennials are shifting from binge drinking habits and adoring drinking by making their own cocktail with liqueurs such as vodka. Packaging plays a crucial role in the vodka market. A study conducted by Affinnova, Inc. shows that package design in the vodka market plays a vital role in shelf impact and consumer perception.
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This release was published on openPR.