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Pre-mixed/RTD Alcoholic Drink Market is Booming Worldwide
The pre-mixed/RTD alcohol drink market is expected to be valued at US$ 35,321.40 million in 2024. The market is expected to progress at a moderate rate over the forecast period, with a CAGR of 4.8%. By 2034, the value of the market is forecast to be worth US$ 56,652.70 million.
A significant shift in consumer lifestyle and growing demand for beverage options are moving manufacturers toward an innovative approach. In addition to the taste, the effort required to mix and make traditional drinks to one’s liking is also influencing the consumers’ decision. In steps, pre-mixed/RTD alcoholic drinks reduce the burden of making drinks on the part of consumers and afford a more convenient drinking experience.
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Ready-to-drink alcoholic beverages make available to consumers a bevy of options. Variants like low-calorie and low-alcohol concentration drinks make sure the market’s consumer base is wide. Experimentation with varied flavors and textures is also helping premixed alcoholic drinks expand their consumer base. However, a rigid bias for traditional drinks among consumers is likely to hinder market growth.
“The rise in socializing and weekend drinking culture, cocktail culture has also emerged as people are looking to mix it up when it comes to their alcohol intake. Pre-mixed cocktails provide a readymade solution to consumers, not having to head out to bars or make the cocktail at home. Thus, pre-mixed popular cocktails like margaritas represent a significant opportunity for the market,”- Nandini Roy Choudhury, Client Partner at Future Market Insights
Key Takeaways from the Pre-mixed/RTD Alcohol Drink Market
• The pre-mixed/RTD alcohol drink market is anticipated to be US$ 35,321.40 million in value in 2024.
• Spirit-based beverages are the popular form of pre-mixed alcoholic drinks. For 2024, spirit-based premixed drinks are expected to contribute to 42.0% of the market share.
• Pre-mixed/RTD alcohol drinks are predominantly sold through stores. Store-based selling is expected to account for a 67.8% share of the market in 2024.
• Germany is one of the promising countries in the market. The CAGR for Germany over the forecast period is anticipated to be 11.8%.
• India is poised to be a lucrative Asian country for the pre-mixed drinks market. For the 2024 to 2034 period, the CAGR for India is pegged at 9.8%.
• The market is expected to register a CAGR of 8.3% in the United States over the forecast period.
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Competition Analysis of the Pre-mixed/RTD Alcohol Drink Market
Players in the non-alcoholic ready-to-drink beverages sector are vying for market share, often through partnering with reputable alcohol brands. Extensive testing and research are being conducted to develop innovative products that ensure the market players stay caught up in the dynamic industry landscape. Some of the prominent companies in the market include Diageo plc., Asahi Breweries, Ltd., Suntory Holdings Limited, and Halewood International Limited.
Recent Developments in the Pre-mixed/RTD Alcohol Drink Market
• In December 2023, Coca-Cola made its entry into the Indian pre-mixed/RTD alcoholic drinks market with the launch of Lemon-Dou.
• In October 2023, Diageo added the Ketel One vodka espresso martini, the Ketel One vodka cosmopolitan, and the Tanqueray gin negroni to its range of premixed cocktails.
Key Companies in the Pre-mixed/RTD Alcoholic Drink Market
• Diageo plc.
• Asahi Breweries, Ltd.
• Suntory Holdings Limited
• Halewood International Limited
• The Brown-Forman Corporation
• Bacardi Limited
• Mike's Hard Lemonade Co.
• Pernod Ricard SA.
• Anheuser-Busch InBev SA/NV
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Key Segmentations For Pre-mixed/RTD Alcoholic Drink Market:
By Product Type:
• High Strength Premix
• Malt Based
• Spirit Based
• Wine Based
• Hard seltzer
• Other Alcoholic RTDs
By Distribution Channel:
• Store Based
• Mass Merchandisers
• Online Retail
• Bars, Pubs, and Clubs
• Fine Dining Restaurants
• Others
By Region:
• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• The Middle East and Africa (MEA)
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