Global Alcoholic Ready-to-drinks (Rtds) Market Forecast 2021-2028
The global alcoholic ready-to-drinks (RTDs) market is projected to record a CAGR of 4.38% during the forecast years. The market growth is predominately ascribed to the surging inclination towards low-alcohol content drinks, the rise in marketing and promotions by retailers, and the increased demand from the younger population.
Alcoholic ready-to-drink (RTDs) beverages are mainly spirit-based, wine-based, or malt-based alcoholic drinks. They are served in a premixed form and are ready for consumption at any given time. Ready-to-drinks (RTDs) are also known as alcopops. Conversely, high-strength premixes are also characterized as premixed beverages with alcohol. These beverages constitute alcohol and juice, or other soft drinks. Subsequently, both the ingredients are mixed as per a specific volume-based proportion.
Alcoholic ready-to-drink (RTDs)/high-strength premixes are highly popular among the youth since they comprise low alcoholic content and are available in various flavors. Alcoholic ready-to-drink (RTDs)/high-strength premixes are also known as drinks for entry-level consumers, and particularly for women. The younger population also prefers a healthier lifestyle and thus chooses healthy alcoholic beverages, entailing a lower alcohol content.
The global alcoholic ready-to-drinks (RTDs) market growth assessment encompasses the evaluation of North America, the Asia-Pacific, and Europe. The Asia-Pacific is set to lead and dominate the global market over the forecast period owing to key drivers like the increasing financial status of people, the high purchasing as well as spending power, modernization and adoption of western culture, and the augmenting demand for premium and high-quality beverages.
Dominating, well-established players are already present in the global alcoholic ready-to-drinks (RTDs) market. Moreover, in order to gain a competitive advantage and edge over other players, they constantly seek packaging innovation as well as new product developments, in addition to numerous business strategies such as mergers and acquisitions, business expansions, strategic alliances, and horizontal and vertical integration. Therefore, the industrial rivalry within the global market is high.
The Boston Beer Company Inc, Bacardi & Co Ltd, and Diageo PLC are some of the leading companies operating in the market.
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