Market Overview

The RTD alcoholic beverages market is likely to show continual growth. The overall rise of the beverages industry will influence the RTD alcoholic beverages market. Market Research Future (MRFR) states that the global RTD alcoholic beverages market is poised to grow from USD 30,320.75 MN in 2022 to USD 50,199.3 MN by 2030, registering a 6.53 % CAGR the forecast period (2022-2030).

The rise in the global average consumption of alcohol per capita per year, alongside the changing lifestyles and improving per-capita disposable income, substantiates the RTD alcoholic beverages market size. Besides, changing consumer demand and the availability of endless arrays of ready-to-drink beverages accelerate market shares. There has been a rise in consumer demand for convenient and portable alcoholic beverages that are ready to consume without additional mixing or preparation.

RTD alcoholic beverage manufacturers cater to this demand by providing a range of pre-mixed cocktails, spirits, and flavored alcoholic drinks in a convenient packaging format. Additionally, the growing popularity of RTD beverages can be attributed to changing consumer preferences, a shift towards low-alcohol options, and the desire for innovative and unique flavor profiles.

RTD Alcoholic Beverages Market –Segments

The report is segmented into types, nature, packaging types, end-users, distribution channels, and regions. The type segment is sub-segmented into alcopop, hard seltzers, bottled cocktails, and others. The nature segment is sub-segmented into spirit-based, malt-based, wine-based, and others. The packaging type segment is sub-segmented into bottles, cans, cartons, and pouches.

The end user segment is sub-segmented into residential/retail, commercial/ HORECA, and others. The distribution channel segment is sub-segmented into on-trade and off-trade. By region, the RTD alcoholic beverages market is segmented into the Americas, Europe, Asia-Pacific, and the rest of the world.

RTD Alcoholic Beverages Market– Regional Analysis

Europe dominates the global RTD alcoholic beverages market with the largest market share. The increasing consumer base looking for low-alcohol alternatives to traditional alcoholic drinks is a key driving force. Besides, the large base of RTD alcoholic beverage manufacturers focusing on expanding their product portfolios substantiates the region's market share. Germany, UK, and France are the leading RTD alcoholic beverages markets in Europe, followed by Italy and Spain.

RTD Alcoholic Beverages Market – Competitive Analysis

Highly competitive, the RTD alcoholic beverages market appears fragmented with the presence of numerous players. This market witnesses continually changing consumer demands and preferences, encouraging players to widen their market penetration by including various types of flavors in their product portfolio. Players initiate strategic approaches such as mergers & acquisitions, collaboration, expansion, and product/technology launches to gain a bigger market share.

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Major Players

Leading RTD alcoholic beverages market players include Halewood International Limited (UK), Asahi Group Holdings, Ltd. (Japan), Mike's Hard Lemonade Co. (US), The Brown-Forman Corporation (France), Pernod Ricard SA (France), Bacardi Limited (Bermuda), and Anheuser-Busch InBev SA/NV (Belgium), among others.

Industry/ Innovation/ Related News

May 24, 2023 -- Sapporo Breweries (Japan), a leading RTD Alcoholic Beverage provider, announced that it has jointly established an AI system with IBM Japan. The partnership has significantly reduced the time and cost of new product development, playing a key role in the alcohol firm's future innovations. Named N-Wing Star, the AI system is poised to boost sales of Sapporo's latest product, Otoko Ume Sour Salty Plum, which will be commercially sold in Japan in July.

Drivers

The RTD (Ready-to-Drink) alcoholic beverages market is driven by consumer demand for convenience, diverse flavor options, and portability. Additionally, the growing trend of social gatherings and the preference for on-the-go consumption contribute to the market's growth. Innovations in packaging, marketing strategies, and the popularity of low-alcohol and craft options further boost this market.

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Opportunities 

The RTD (Ready-to-Drink) alcoholic beverages market offers significant opportunities for growth due to its convenience and popularity among consumers. Increasing demand for pre-mixed cocktails, the expansion of product varieties, and a focus on premium and innovative ingredients are key drivers. The market is expected to continue its upward trajectory.

Restraints and Challenges 

The RTD alcoholic beverages market faces challenges including strict regulatory compliance, health-conscious consumer trends, intense competition, supply chain disruptions, complex distribution, seasonal demand variations, economic downturns, consumer perceptions, environmental sustainability concerns, taxation impact, and pricing pressures. Adapting to these obstacles is essential for sustained growth in this competitive industry.

COVID-19 Analysis 

The Covid-19 epidemic in 2020 increased demand for contact-free biometric services at airports because they provide identity and verification without any physical touch. Contactless biometric services provide quick and accurate identification while limiting exposure. Additionally, the pandemic has compelled airport management to implement contactless thermal checking biometric equipment to monitor passenger admission by measuring body temperature. Throughout the projected period, it is anticipated that the contactless airport biometric services industry will continue to rise. Airports all around the world are quickly implementing contactless biometric services including face recognition, voice recognition, & 3D advanced fingerprint recognition.

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