Ready to drink cocktails market to grow by USD 748.7 million from 2022 to 2027; North America accounts for 37% of market growth- Technavio

NEW YORK, Nov. 24, 2023 /PRNewswire/ -- The ready to drink cocktails market size is expected to grow by USD 748.7 million from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will be progressing at a CAGR of 12.42% during the forecast period. Growing demand for low-alcoholic flavored drinks is notably driving the ready to drink cocktails market. However, factors such as different taxation for RTD cocktails may impede market growth. The market is segmented by distribution channel (hypermarkets/supermarkets, online, and liquor stores), type (spirit-based, wine-based, and malt-based), and geography (North America, Europe, APAC, South America, and Middle East and Africa). Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The Free sample report is available in PDF format 

Key Segment Analysis

The market share growth by the hypermarkets and supermarkets segment will be significant during the forecast period. To attract more customers, hypermarkets and supermarkets offer a variety of brands and stock-keeping units (SKUs) at competitive prices. Convenience, huge SKUs, and a wide brand variety are some of the factors considered while purchasing products from hypermarkets, supermarkets, convenience stores, and clubhouse stores. 

To know additional highlights and key points on various market segments and their impact in coming years, View the PDF Sample Report.

Geographical Market Analysis 

North America is estimated to account for 37% of the global market during the forecast period. The presence of leading market players in the region, such as Brown Forman Corp., Crook and Marker LLC, Cutwater Spirits, LLC, Dogfish Head Craft Brewery Inc., and Mikes Hard Lemonade Co. also drives the growth of the regional market. Furthermore, the incremental decline in the excise tax on alcohol and the growing popularity of low-alcoholic flavored RTD cocktails have both accounted for an increase in alcohol consumption and expenditure in the US in recent years. Thus, all these factors will drive the regional market growth during the forecast period. 

Company Insights 

The ready to drink cocktails market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market's competitive landscape and offers information on several market companies, including:

Anheuser Busch InBev SA NV, Asahi Group Holdings Ltd., Bacardi Ltd., Brown Forman Corp., Crook and Marker LLC, Cutwater Spirits LLC, Davide Campari Milano NV, Diageo Plc, Dogfish Head Craft Brewery Inc., House of Monaco, Lucas Bols Amsterdam BV, Manly Spirits Co., Miami Cocktail Co Inc., MIKES HARD LEMONADE Co., Molson Coors Beverage Co., SHANGHAI BACCHUS LIQUOR Co. Ltd., Snake Oil Cocktail Co., VOSA SPIRITS LLC, Becle S.A.B. de C.V., and NEXT CENTURY SPIRITS LLC

View the PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.

Related Reports:

The root beer market is estimated to grow at a CAGR of 4.32% between 2022 and 2027. The size of the market is forecast to increase by USD 139.76 million. 

The cocktail mixers market size is projected to increase by USD 5,157.81 million and the market size is estimated to grow at a CAGR of 9.26% between 2022 and 2027. 

1. Executive Summary
2. Market Landscape
3. Market Sizing
4. Historic Market Size
5. Five Forces Analysis
6. Market Segmentation by Type 
7. Market Segmentation by Distribution Channel
8. Customer Landscape
9. Geographic Landscape
10. Drivers, Challenges, and Trends
11. Company Landscape
12. Company Analysis
13. Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio

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