Market Forecast

The global ready-to-drink cocktails market size was valued at USD 714.8 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 12.0% from 2021 to 2028. The growing demand for flavored drinks with low alcohol content due to rising health concerns is anticipated to drive the market over the forecasted period. Premiumization of the product with flavors, taste, quality and package design is further expected to drive market growth.

COVID-19 Impact Analysis

The COVID-19 pandemic has had a positive impact on the global market. The growth of the at-home cocktail culture increased concerns for health, convenience, and the enhanced quality and diversity of RTD cocktails are the factors that augmented the product demand.

The surging awareness and growing interest to lead a healthy lifestyle among the global population are considered one of the key factors contributing to the market growth. The demand for healthy ready to drink protein shakes market products have increased due to the changing lifestyle and surging demand for convenience food and beverages. Several weight loss diet trends and health awareness are likely to encourage the adoption and sales of herbal and fruit tea in the foreseeable future.

Health deterioration, owing to insufficient exercise and busy lifestyle and the rising prevalence of obese population are some of the major factors behind the rising number of individuals adopting a healthy lifestyle. Ready to drink coffee is considered an excellent source of instant energy is becoming prominent, especially among the young population. Also, increasing health awareness has influenced the youngsters to involve in gymming, sports, and other physical activities, which has further encouraged the adoption of ready-to-drink items globally.

Competitive Dashboard Analysis

The top players operating in the brands include Fuze Beverage (U.S.), PepsiCo (U.S.), Nestlé (Switzerland), Coca-Cola (U.S.), Kraft Foods (U.S.), Nestlé (Switzerland), Campbell Soup Company (U.S.), Kraft Foods (U.S.), Red Bull GmbH (Austria), and Ocean Spray (U.S.).

Ready to Drink Market: Segmental Analysis

The ready-to-drink market has been segmented on the basis of type, packaging, and distribution channel.

Based on the type, the market is segmented into sports drinks & energy drinks, probiotic drinks, tea & coffee, fruit & vegetable juices, dairy & non-dairy beverages, and others. Of these, the fruit & vegetable juices segment is predicted to dominate the market globally. The surging awareness regarding health has resulted in the growth of probiotic drinks.

By packaging, the market is segmented into tetra pack, bottle, tin can, sachet, and others. Of these, the bottle segment is expected to dominate the market. However, the tetra pack segment will garner the highest CAGR owing to the rising awareness regarding several health benefits as tetra pack is hygienic.

The distribution channel comprises store-based and non-store-based. Of these, the store-based distribution channel will gain prominence due to the one-stop shopping experience.

Regional Analysis

Geographically, the ready to drink market size has been segmented on the basis of Europe, North America, Asia Pacific, and the Rest of the World (RoW).

Considering the global scenario, Europe is considered to command the largest share in the global market. European people are always considered health-conscious. The fast life in the region has influenced the adoption of ready-to-drink and food items. The biggest markets in Europe are Germany, France, Spain, Italy, and the U.K.

The Asia Pacific will show considerable growth in the foreseeable future due to the changing consumption pattern, ongoing weight loss diet trend, increasing pubbing culture, and rising disposable income. The growth in the working-class population, coupled with the rising demand for on-the-go products in India and China will contribute to the market growth in the coming years.

The market growth in North America is mainly driven by economies like Canada and the U.S. due to the surging demand for ready-to-drink coffee and tea. Surging health awareness among the population is one of the major concerns for market growth. Moreover, manufacturers involved in this market are constantly introducing new flavors in order to capture a greater market share. This is estimated to influence the regional market growth in the coming years.

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