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Annual sales in this segment are up 574%, and malt-based cocktails now account for $4.7 million in annual sales. Pre-mixed/RTD alcoholic drinks market has diverse growth factors, however is still curtailed by various challenges as well. The increased variety of RTD options on the market has contributed to the category’s growth — which, in turn, has resulted in even more brands releasing RTD products. Whisky made in 2020 'most valuable in history', Bacardi buys bottled cocktail brand Tails, Diageo forecast to outperform Pernod post-pandemic, Glengoyne debuts its oldest Scotch whisky, Isle of Raasay unveils inaugural single malt, Otterbeck Distillery launches Captain Sir Tom’s Gin. There may even be the potential for RTDs to capitalize on — and compete with — the success of another booming category: Hard seltzer. “No ingredients, no prep or clean up. Consumers worldwide are enjoying teas hot or iced in familiar flavors like black, white, green and oolong as well as in newer varieties like matcha and sencha. The growing preference for RTD cocktails by millennial in developed countries and the easy availability of these products in the market is driving the growth of the RTD alcoholic beverages market. In fact, the ready-to-drink space is boosting sales across all alcohol beverage categories, with the emerging malt-based cocktail segment leading the pack in growth. While home cocktail culture has resulted in increased sales for spirits, liqueurs, and other cocktail ingredients, RTDs offer the added benefits of convenience and portability. From a party favourite to a premium product Premiumisation is the first factor that’s driving RTD growth. But like craft beer and kombucha, this trend has been brewing for some time. For more information, check out our privacy policy. RTD cocktails are also seen as safer alternatives amidst pandemic health concerns. However, we’re seeing an emergence of pre-mixed cans featuring both premium quality spirits and mixers. However, the onset of Covid-19 set the RTD cocktail category on fire. Malt-based cocktails led the growth of the category, with annual sales now accounting for US$4.7 million. Indeed, Mintel predicted a 9% rise in RTD cocktail sales by volume over a five-year period … “As Covid-related on-premise restrictions persist through the second half of the year,” Paquette says, “we expect that will continue to drive growth in the RTD category.”, At Molly’s Spirits, Cook expects that the category will continue to boom throughout the holiday season, particularly because of new socialization habits. BACARDI isn’t the only brand of RTD cocktails that’s experienced such explosive growth. Popular RTD occasions include outdoor picnics (32%), the beach/pool (28%) and while travelling or on holiday (23%). This is up significantly from .12 percent share of sales in 2019, but the category is still niche but growing. US off-trade spirits sales grew by 26.3% in September and October, bolstered by a triple-digit increase for ready-to-drink (RTD) cocktails, according to new Nielsen data. High Noon Hard Seltzer Variety Pack (vodka-based) High Noon Watermelon Hard Seltzer (vodka-based) High Noon Pineapple Hard Seltzer (vodka-based) High Noon Grapefruit Hard Seltzer (vodka-based) High Noon Black Cherry Hard Seltzer (vodka-based) High Noon … }); The brand’s success has been driven by its positioning within the hard seltzer category; though High Noon is vodka-based, therefore categorizing it as a RTD cocktail, it is marketed as a vodka-based hard seltzer. Spirit- and wine-based RTD cocktails generated larger annual sales at US$62m and US$83m respectively. You can see how today’s RTD cocktails might differ from those of the past by the artisanal emphasis of the recent RTD cocktail startups. RTD Mixed Spirit Production in the US industry outlook (2020-2025) poll Average industry growth 2020-2025: x.x lock Purchase this report or a membership to unlock the average company profit margin for this industry. Value–added water also saw double–digit growth rates in both volume and dollars. You may unsubscribe from these communications at any time. The growth of the global RTD alcoholic beverages market is driven by the rising association of RTD beverages with … California’s Troop Beverage Co. has officially launched its new line-up of bold, balanced cocktails available in CA and CO retail stores, and direct-to-consumer nationally. In 2020, High Noon accounted for 55 percent of RTD share, compared to just 13 percent in 2019. 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