RTD Cocktail Shots Market Size Worth US$ 9,633 Mn By 2032 | CAGR: 10%: FMI
According to Future Market Insights (FMI), the demand for RTD cocktail shots is expected to surge with growing consumption of cocktails and preference for fresh products. Hence, key playera are trying to capitalize on the trend by presenting a classic cocktail in a container made with natural ingredients.
Further, sales of ready-to-drink cocktail shots are also burgeoning as they do not require preparation. Also, availability of high-quality ready-to-drink cocktail shots are proving to be a turnkey solution that saves time and money.
In terms of packaging, the cans segment is expected to dominate the RTD cocktail host market. Millennials and several craft brew enthusiasts prefer cocktail from a can, improving the demand for canned RTD cocktail shots.
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Key Takeaways from Market Study
The ready-to-drink cocktail shots market is expected to expand at CAGR of 10.0% over the forecast period.
Among the type, spirit based is expected to dominate the market, accounting for 42.0% of the revenue during the forecast period.
Among the packaging segment, bottle segment accounted for more than 57.0% revenue share and it is expected to grow at 8.2% CAGR over the forecast period.
Among distribution channel segment, supermarkets/hypermarkets category will account for over 70% of demand share between 2022 and 2032.
"Ease in convenience coupled with busy lifestyle has increased the demand for ready-to-drink cocktail shots. Hence, key players are introducing fresh flavors to capitalize on growing demand," says a Future Market Insights analyst.
Key manufacturers of global ready-to-drink cocktail shots market are focusing on research & development in order to develop innovative and unique product offering. In addition to this, these key players in the ready-to-drink cocktail shots market are also concentrating on merger, acquisition and joint ventures to expand their geographical presence and to increase the existing production capacity.
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In 2018, Bacardi Ltd announced the completion of its acquisition of PATRON brand of Patron Spirits International AG, the world's best-selling ultra-tequila. With this acquisition, Bacardi becomes the leading spirits company in the ultra-segment in the United States, as well as the second largest in terms of market share by value.
In 2020, Bacardi Ltd, the world's largest family-owned spirits company, announced the acquisition of batched cocktail and premium crafted company TAILS.
Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the global ready-to-drink cocktail shots market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
Market Segments Covered In RTD Cocktail Shots Analysis
Middle East & Africa
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