The global RTD canned cocktail market was estimated at US$ 19.06 billion in 2022, and it is predicted to rise at a CAGR of 11.6 percent between 2022 and 2032. A major factor driving market sales is the rising demand for packaged foods and beverages around the world. RTD canned cocktail sales are expected to account for 53.4 percent of demand in the global RTD cocktail market, which is expected to be worth US$ 19 billion in 2022, according to Future Market Insights (FMI). Aside from that, consumers are attempting to replicate their favorite restaurant cocktails at home, which is driving premium spirits, liqueurs, and mixers sales. The premiumization and re-invention of old cocktails like the Moscow Mule, which uses natural ingredients and flavors, is also driving sales.
Furthermore, as people spend more time at home, they want to broaden their horizons by trying different beverages, and RTD cocktails give them that opportunity, which is driving the RTD canned cocktail market forward.
Key Takeaways:
- Sales of vodka RTD canned cocktails are expected to account for 19.2 percent of the entire market share in 2022, according to the product type segment.
- Through 2032, sales of flavored RTD canned cocktails will grow at an astounding 11.3 percent compound annual growth rate (CAGR).
- During the assessment period, demand for RTD canned cocktails in the retail segment will grow at an 11.9 percent CAGR.
- Through 2032, the United States is expected to lead the North American RTD canned cocktail industry, with sales expanding at a 9.9% CAGR.
- Germany will become a lucrative market for RTD canned cocktails in Europe. Germany’s demand is expected to expand at a 9.5 percent compound annual growth rate (CAGR) through 2032.
- The RTD canned cocktail industry in India is expected to rise at a staggering 12.1 percent CAGR over the next five years.
Competitive Landscape
Leading players in the global RTD canned cocktails market are investing in R&D to increase the range and quality of their goods to boost sales. In addition, to grow their worldwide presence, players are investing in mergers, acquisitions, and collaborations. For example, in June 2019, ASDA released Boulevard’s ‘Throw,’ an energy organic martini; Hochstadter reduced the size of their canned cocktails by about 100 ml/3.38 fl. oz. to make stacking easier and reduce the overall amount of alcohol consumed in a single serving. Big Hammer produced slimmer cans to make its canned cocktails more accessible to female consumers, who are the company’s primary market.