RTD spirits Market Forecast:

RTD spirits market is expected to reach USD 6.3 billion by 2030, exhibiting a CAGR of 4.05% over the forecast period (2023–2030).

RTD spirit is the dilution of hard liquor with fruit flavors and other drinks and packed for direct consumption. Cocktail has gained much popularity among the consumers which has influenced the manufacturers to come up with innovative RTD spirits in the market. Various flavorings are added to make the liquor flavored. In some cases, sugar or honey is also added to the alcohol to enhance its flavor. RTD spirits majorly have a base of vodka, tequila, whiskey, rum and others.

Alcoholic spirits are popularly consumed by the youth generations which is a significant driver of the RTD spirits market. Changing lifestyle and adoption of the modern trends has influenced the high sale of RTD spirits in the alcoholic beverages market. Increase in disposable income is having a positive impact on this market. Rising demands for fortified and refreshing flavored alcoholic beverages is anticipated to further have a positive effect in this market across the globe.

Consumption of RTD spirits is gaining its popularity as mass consumers prefer to experiment with refreshing and new flavors in their drinks. Higher demand for flavored liquors from female population of urban countries has also influenced the increased share of RTD spirits. All these factors are projected to contribute to the estimated CAGR of 4.05% of RTD spirit market during the forecast period, 2023–2030.

Downstream analysis:

By type, RTD spirits market is segmented into whiskey, rum, vodka, tequila, gin, and others. Among all, vodka is found to hold major share based on high consumer preference. However, whiskey and rum are anticipated to have steady growth over the forecast period.

Based on the packaging material, RTD spirits market is segmented into glass, metal, and others. Among them, glass segment is projected to dominate the market and have substantial growth over the forecast period.

By distribution channel, RTD spirits market is segmented into on-trade and off-trade distribution channel. Among them, off-trade distribution channel is dominating the market and is witnessed to continue its dominance over the estimated period. However, on-trade distribution channel segment is also seen to grow eventually.

The major players in the RTD spirit market

  • Diageo Plc. (U.K.)
  • Asahi Breweries, Ltd. (Japan)
  • Suntory Holdings Limited (Japan)
  • Bacardi Limited (Bermuda)
  • Pernod Ricard SA (France)
  • Halewood International Limited (U.K)
  • The Brown-Forman Corporation (U.S.)

Regional Analysis:

The global RTD spirit market is segmented into North America, Europe, Asia Pacific and rest of the world (RoW). Europe is dominating the market followed by North America. U.K., Germany, Spain, and the Netherlands are major contributors to the growth of RTD spirit market in this region. Growing demand for premium alcoholic beverages in the U.S. is driving the growth of RTD spirits in North America.

Asia Pacific is witnessed to grow substantially owing to increasing disposable income and high inclination of youth population towards alcoholic beverages. Innovative product launch by the key manufacturers in the market will grow the RTD spirits market in the rest of the world.

 

Browse In-depth Market Research Report (128 Pages, Charts, Tables, Figures) Report : https://www.marketresearchfuture.com/reports/sugar-confectionery-market-5454

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

Contact us:

Market Research Future (part of Wantstats Research and Media Private Limited),

99 Hudson Street,5Th Floor, New York, New York 10013, United States of America

Sales: +1 628 258 0071(US) +44 2035 002 764(UK)

Website : https://www.wantstats.com

Email: [email protected]