Ready to drink (RTD) spirits are packaged drinks, it contains diluted concentration of hard liquor with fruit flavors and other drinks and which are packed for direct consumption. The report for global RTD spirit market aims to identify emerging trends and opportunities in the market with detailed analysis of qualitative as well as quantitative aspects.
According to the National Institute on Alcohol Abuse and Alcoholism (NIAAA) Americans consumed an average of 2.32 gallons of alcoholic beverages in 2015 and as per National Survey on Drug Use and Health (NSDUH), 86.4% of people are aged 18 and below. Increase in health consciousness among the consumers is escalating the demand for low liquor content drinks, and this pattern is anticipated to help the market growth in the forecast time frame. Change in drinking lifestyles of consumers across the world and an upsurge in the popularity of cocktails has boosted sales for various RTD spirits in the alcoholic beverages. Alcoholic spirits are widely consumed by the youth generations, which is a significant driver of the RTD spirits market in developed economies. Also, cocktail RTD drinks have gained popularity among the consumers, which is further driving the global RTD market. Growing demand for flavoured spirits from the female population of urban countries is contributing in the growth of RTD market globally. In Jan 2014, Diageo introduced “Nola” which target the female consumers. However, increase in the non-alcoholic beverages market due to rising health concerns and growing awareness among the consumers is estimated to hinder the market growth during the forecast period.
Moreover, the rising demand for the flavoured alcoholic beverages is expected to create an opportunity in the global RTD market.
In June 8, 2016, SABMiller’s Carlton & United Breweries (CUB) introduced Black Douglas in the premium RTD ranges in Australia.
In Feb 28, 2018, canned cocktail manufacturer Blue Marble has launched its range of 12 ready-to-drink (RTD) cocktails in the U.S.
In April 20th, 2018, New Holland Brewing Co, has launched its new range of ready-to-drink (RTD) cocktails, it includes Bourbon & Cola, Blueberry Gin Lemonade and Holland Mule.
On the basis of geographical regions covered, the global RTD spirit market is analyzed across four regions such as North America, Europe, Asia-Pacific and Latin America, Middle East and Africa (LAMEA).
North America market is expected to grow as the demand for the premium RTD cocktails in Mexico and U.S. is increasing.
Europe is anticipated to hold a large share of RTD market. Over the past years, there has been significant growth in countries like U.K., Germany, Netherlands and Spain.
Asia-Pacific is estimated to contribute major revenue during the forecast period, owing to the constant demand for the ready to drink alcohol mixes among different countries in the region. Emerging economies like India, China, Japan and others will fuel the market. Japanese consumers lead a proactive lifestyle, majority of them prefer to make cocktails at home according to their convenience.
The key players for RTD Spirit market includes Diageo Plc. (U.K.), Bacardi Limited (Bermuda), Beam Suntory Inc. (U.S.), Asahi Breweries Ltd. (Japan), The Brown-Forman Corporation (U.S.), Suntory Holdings Limited (Japan), Halewood International Limited (U.K.) and Pernod Ricard (France).
In 3rd May 2018, Diageo has extended its Smirnoff Spiked Sparkling Seltzer ready-to-drink (RTD) range with a new variant “Raspberry Rose”.
In 2nd Feb 2018, Diageo has released a ready-to-drink (RTD) version of Tanqueray and Tonic in Australia – a first for the gin brand.
In 25th May 2018, Beam Suntory introduced a new RTD range called Sauza Agua Fuerte, which is a Tequila-based sparkling water drink.
The Global RTD Spirit Segmentation are: