Ready-to-Drink Cocktails Market Companies: A Beverage Industry with Assorted Flavors

Ready-to-drink cocktails have become one of the beverage industry's sizeable triumphant stories lately. A footing for growth was set down before the pandemic as conventional players, craft brands, and even bartenders generated exclusive RTD cocktails and served them in single-serve cans. The classification commenced to take off due to the amalgamation of comfort, escalated standards, and broader flavor assortment. In ready-to-drink cocktails market companies, now with the consumers distant from lockdowns and confined conventions, the instant requirement for features such as adjustability and bar-level cocktail standards at home has lessened. Still, consumers are not stranding the ready-to-drink cocktails.

RTD cocktail sales have extensively been intended for retail, with consumers ushering ready-to-drink cocktail alternatives home as an option to conventional beverage alcohol sales trends. In this blog, we will understand the popularity of RTD cocktails and different types of RTDs.

Ready-to-Drink Cocktails: A Quick Review

Ready-to-drink cocktails are popular as wine coolers and malt-dependent refreshments such as Smirnoff Ice have been present for decades. However, in ready-to-drink cocktails market companies, present-day consumers refrain from sugary drinks that are abundant in artificial sweeteners and colors. Rather, the contemporary consumer is seeking polished commodities that are less in sugar and calories.

There are different kinds of RTDs present in the market, namely malt-based RTDs, in which rigid seltzers, rigid kombucha, and rigid tea all emanate from malt-based alcohol. In spirit-based RTDs, one detects ready-to-drink cocktails, shooters, and seltzers that are barbed with spirits. For instance, Cutwater Spirits have a Lime Margarita rendered with Tequila as the base spirit.

Industry Stats

The global ready-to-drink cocktails market is poised for a stable growth. It was valued at USD 1002.29 million in 2023 and is projected to grow to USD 3066.52 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 13.20% in the forecast period 2024-2032.

Leading Companies in the Ready-to-Drink Cocktails

Diageo

Founded: 1997

Headquarters: England

Diageo Plc. is a British multinational alcoholic beverage firm with 132 sites globally. It is a prominent provider of Scotch Whisky and alternate spirits. Diageo-headed distilleries make 40% of all Scotch Whisky and have over 24 brands, such as Johnnie Walker, J&B, and Old Parr.

Bacardi Limited

Founded: 1862

Headquarters: Bermuda

Bacardi Limited is the biggest discreetly held family-possessed spirits firm globally. Initially known for its Bacardi brand of white rum, it presently has a portfolio of 200 additional brands and labels. The ready-to-drink cocktails market, detected in Cuba in 1862, has been family-possessed for seven generations. It employs more than 8,000 people and has sales in roughly 170 countries.

Brown Forman Corporation

Founded: 1870

Headquarters: Kentucky, U.S.

Brown Forman Corporation is an American-dependent firm, one of the biggest in the spirits and wine business. It produces many extremely popular bands worldwide. In 2009, Newsweek magazine categorized Brown Forman in its green rankings.

Pernod Ricard

Founded: 1975

Headquarters: Paris, France

Pernod Ricard is a maker and supplier of wines and spirits. It endeavors to fuse conventional craftsmanship, brand advancement, and global administration technologies in its functions. It has a business presence across Europe, the Americas, Asia-Pacific, Europe Middle East, and Africa (EMEA).

To Conclude

RTDs have caused a factual battering in the beverage alcohol industry, and all indications signify persevered growth in this product category. In ready-to-drink cocktails market companies, RTD alcohol brands have been able to effortlessly recognize and encounter consumers' requirements, and these consumers have answered in kind by frequently selecting to drink RTDs.