RTD Alcoholic Beverages Market Is Projected To Reach US$ 28.76 Billion By 2034, Fact.MR

Rising Demand for RTD Alcoholic Beverages Attributed to Their Multiple Flavor Options and Convenience Usage: Fact.MR Report

ROCKVILLE, MD, UNITED STATES, May 24, 2024 /EINPresswire.com/ -- The global RTD alcoholic beverage market is projected to reach US$ 18.81 billion in 2024, as mentioned in a new report by Fact.MR, a market research and competitive intelligence provider. Demand for ready-to-drink alcoholic beverages is forecasted to reach a market value of US$ 28.76 billion by 2034-end.

RTD alcoholic beverages are becoming popular because of their multiple flavor options and convenience in use. Several manufacturers are focusing on using organic and natural ingredients in these RTD beverages to attract more consumers. Moreover, a modernized lifestyle and a rising population of middle-class consumers are projected to increase sales of premium RTD alcoholic beverages. Players are introducing new RTD alcohol options containing some natural ingredients to attract a larger base of health-conscious consumers around the world.

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Unique flavor profiles are offered by manufacturers to attract consumers seeking premium quality. Furthermore, the increasing traction for alcoholic drinks, especially among millennials, is projected to increase demand for RTD alcoholic beverages. Penetration of e-commerce platforms is also projected to contribute to market expansion in the coming decade.

Key Takeaways from Market Study

The global RTD alcoholic beverage market is estimated at US$ 18.81 billion in 2024. Worldwide sales of RTD alcoholic beverages are forecasted to reach US$ 28.76 billion by the end of 2034.

The global market is projected to advance at 4.3% CAGR from 2024 to 2034. North America is forecasted to account for 27.2% share of global market revenue by the end of 2034.

Demand for RTD alcoholic beverages in Mexico is projected to rise at 7.9% CAGR from 2024 to 2034. Global sales of high-strength premixes are projected to rise at 4.6% CAGR and reach US$ 6.38 billion by 2034-end.

“Increasing consumption of RTD alcoholic beverages is attributed to their convenience in use, changing consumer preferences to hassle-free drinking experiences, and effective branding and marketing strategies,” says a Fact.MR analyst.

Presence of Large Consumer Base in United States

Demand for RTD alcoholic beverages in the United States is forecasted to increase at 4.6% CAGR and reach a valuation of US$ 5.98 billion by 2034. The growing demand for ready-to-drink alcoholic beverages in the country is attributed to the larger consumer base. The increasing inclination to premium low-alcoholic beverages, including cider, RTD beverages, and beer, is contributing to the profit share of respective suppliers.

Key Market Players

Bacardi Limited, Diageo PLC, Halewood Wines & Spirits, Inspyration Siam Co., Ltd., Mark Anthony Group of Companies, Brown-Forman, Molson Coors Beverage Company, Manchester Drinks, The Boston Beer Company, Asahi Group Holdings, Ltd., Davide Campari-Milano N.V., SHS Group, Carlsberg Breweries A/S, Pernod Ricard SA, Global Brands Ltd., SHS Group, Radico Khaitan Limited, Suntory Holdings Limited, La Martiniquaise, and Constellation Brands Inc. are leading suppliers of RTD alcoholic beverages.

"Emerging Preference for High-Quality Beverages"

As lifestyles continue to evolve, so do our tastes. This shift is driving a surge in the demand for premium ready-to-drink (RTD) alcoholic beverages.

Consumers are increasingly drawn to RTD beverages crafted with top-tier alcohols. Moreover, manufacturers are introducing premium RTD options with distinct flavor profiles to captivate a broader audience. Consequently, industry leaders are prioritizing the production of premium beverages to meet the escalating demands of their target market.

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Insights by country:

By the close of 2034, North America is anticipated to command a significant slice, reaching 27.2%, of the global market revenue. This surge is chiefly fueled by a heightened appetite for low-alcohol and light beverages across the region. Moreover, the burgeoning preference for alcoholic seltzers, heralded for their natural ingredients, is further propelling the growth of the Ready-to-Drink (RTD) alcoholic beverage market.

Within North America, the United States is poised to dominate with a substantial 76.4% share by 2034's end. The nation benefits from a sizable population of alcohol enthusiasts, particularly discerning consumers favoring premium alcoholic beverages, surpassing other regions. A notable inclination towards low-alcohol options, including RTD alcoholic beverages, cider, and beer, is evident among the majority of consumers. Anticipated advancements in flavor and convenience of RTD alcoholic beverages are expected to fuel their demand in the foreseeable future. Notably, seltzers are forecasted to emerge as a prominent contender among alternatives to cider products and beer.

Explore More Studies Published by Fact.MR Research:

Low-alcohol Beverages Market: The global low-alcohol beverages market is set to be valued at US$ 800 million in 2023. Further, worldwide sales of beverages with low alcohol content are estimated to reach a value of US$ 1.2 billion by 2033-end, increasing at a CAGR of 4.5% through 2033.

Canned Cocktails Market Insights: The canned cocktails market captured a valuation of over US$ 25 billion in 2020, and is foreseen to expand at a CAGR of over 20% during the forecast period of 2020-2030.

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