According to Future Market Insights (FMI), rising cocktail consumption and a desire for fresh products are projected to drive demand for RTD cocktail shots. As a result, prominent players are attempting to cash in on the trend by selling classic cocktails in organic packaging.
Furthermore, because they do not require preparation, sales of ready-to-drink cocktail shots are increasing. Furthermore, the availability of high-quality ready-to-drink cocktail shots is proving to be a turnkey solution that saves both time and money.
The cans category is projected to dominate the RTD cocktail host market in terms of packaging. Millennials and several craft beer fans favor canned cocktail shots, which is driving up demand for canned RTD cocktail shots.
Takeaways from the Market Research
- Over the projected period, the ready-to-drink cocktail shots market is expected to grow at a CAGR of 10.0 percent.
- Spirit-based products are predicted to lead the market, accounting for 42.0 percent of revenue throughout the forecast period.
- The bottling segment accounted for more than 57.0 percent of revenue in the packaging category, and it is predicted to expand at an 8.2 percent CAGR over the projection period.
- Between 2022 and 2032, supermarkets/hypermarkets will account for approximately 70% of the demand share in the distribution channel segment.
Competitive Environment
- Halewood Wines & Spirits
- Asahi Group Holdings Ltd.
- Diageo plc
- Bacardi Limited
- Brown-Forman
- Pernod Ricard