Ready to Drink Cocktails Market Size, Share, Growth, Trends, and Global Industry Analysis: By Alcohol Base (Malt Based, Spirit Based, Wine Based), By Primary Base (Rum, Whisky, Vodka, Wine, Others), By Packaging (Cans, Bottles, Others (Squeeze Packaging)), By Distribution Channel (Hypermarkets/Supermarkets, Online, Liquor Stores) and Region Forecast 2019 - 2030

Ready To Drink Cocktails Market size was valued at US$ 743.2 million in 2023 and is projected to reach a value of US$ 1,814.5 million by 2030, at a CAGR of 13.6% from 2024-2030. Moreover, the U.S. Ready to Drink Cocktails market is projected to grow significantly, reaching an estimated value of US$ 814.9 million by 2032. 
Ready to Drink (RTD) Cocktails are pre-blended alcoholic beverages sold in cans or bottles with no need for further preparation or ingredients; these beverages can be consumed immediately. RTD cocktails come in different flavors and styles to cater to the different needs of consumers. The growth of the market for RTD cocktails has accelerated due to the increases in demand for drinks that can be consumed.

Key Players 

The market ready-to-drink cocktails share is inclusive of several companies such as Anheuser-Busch InBev, Asahi Group Holdings, Ltd., Bacardi Limited, Brown-Forman, Diageo plc, DORST, Halewood Wines & Spirits, Manchester Drinks Company Ltd., Mikropolis, Mr. Consistent, Pernod-Ricard, SHANGHAI BACCHUS LIQUOR CO., LTD and Suntory Holdings Limited.

Key Takeaways

•    The fastest-growing region is Asia-Pacific
•    Based on the alcohol base, the spirit-based segment holds a 37.4% market share
•    Based on the primary base, the vodka segment holds a 29.1% market share
•    Based on the packaging, the cans segment holds the xx% market share
•    Based on the distribution channel, the hypermarkets/ supermarkets segment holds the xx% market share

Facts & Figures

•    As of 2020, over 52% of U.S. alcohol consumers reported having tried RTD cocktails, showcasing the rapid growth of the market.
•    In 2021, sales of RTD cocktails surged by over 35% in Europe, driven by consumer demand for convenience during the pandemic. 
•    In January 2022, ready-to-drink cocktails outpaced sales of hard seltzers in the U.S., contributing to a 45% year-over-year increase in the segment.

Key Developments

2024: Cathead Distillery released the new, ready-to-drink sparkling vodka sodas product line called Cathead Sparkling Sunsetters.
2023: Absolut finally witnessed entry into the market of canned cocktails, using vodka sodas as well as cocktails.
2023: Diageo acquired a majority shareholding in Seedlip, the non-alcoholic spirits brand that met the quest for RTD portfolios.
In 2022 Pernod Ricard purchased Monkey 47, a German gin brand of the company in a bid to strengthen its market positioning in the RTD marketplace.

Ready To Drink Cocktails Market Segmentation

By Alcohol Base: Spirit-based alcohol is the largest segment of the ready-to-drink (RTD) cocktails market, primarily owing to the popularity of spirit-based cocktails made from gin, vodka, and tequila, hence strong flavors with mixology versatility. People prefer taking it out and consider it a convenient, ready-to-take product. Other factors that may have led to an increase in demand for spirit-based RTD cocktails are consumers' willingness to pay extra money for drinks that taste good, owing to the premiumization trend

By Primary Base: Vodka, according to the primary base, dominates the Ready to Drink (RTD) Cocktails market. It is mainly because of its popularity and the adaptability of the base in the form of a versatile blend of almost any flavor that easily mixes with liquor; hence it has become one of the favorites among consumers. Large quantities are found and suit individual and varied tastes; hence there is a high demand and share in the market.

By Packaging: Maximum market share for ready to drink (RTD) cocktails belongs to the cans segment. The reason behind this is that cans are more convenient, portable, and environment-friendly compared to bottles. Therefore, cans are more durable, less breakable, and lighter in weight making them user-friendly. Plus, it helps keep the cocktails fresh along with the flavors, which are prime considerations for the cocktails not losing their quality.

By Distribution Channel: The Hypermarkets/ Supermarkets segment had the highest share in the ready-to-drink (RTD) cocktails Market. The same is the case with a hypermarket offering vast shelf space and visibility, which significantly makes the RTD cocktails more accessible to purchase by consumers. Besides, the one-stop shopping advantage and the convenience of comparing different brands and flavors in one place boost sales through these channels.