Spirit-Based RTD Mixes Market to Grow by USD 980.1 Million from 2024 to 2028, Functional and Health-Enhancing Ingredients Drive Market Growth, AI Influences Market Trends – Technavio Report

NEW YEAR, Aug. 30, 2024 /PRNewswire/ — Report on how AI is redefining market landscape- The global spirit-based rtd mixes market size is estimated to grow by USD 980.1 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 5.32% during the forecast period. Incorporation of functional and health-enhancing ingredients into spirit-based rtd is driving market growth, with a trend towards rise of diy and home mixology culture. However, competition from non-alcoholic beverages poses a challenge. Key market players include Anheuser Busch InBev SA NV, Asahi Group Holdings Ltd., Bacardi Ltd., Suntory Spirits Inc., Brown Forman Corp., Campari Group, Constellation Brands Inc., Cutwater Spirits LLC, Diageo Plc, Euphoric Beverages Pvt Ltd., Flavorman, HEINKEN Beverages, Molson Coors Beverage Co., PepsiCo Inc., Pernod Ricard SA, Radico Khaitan Ltd., T.Hasegawa USA Inc., The Coca Cola Co., The Mark Anthony Group of Companies, and Zing Zang, LLC.

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Market Driver

The Spirit-Based Ready-to-Drink (RTD) mixes market is growing steadily. These mixes offer convenience and consistency for consumers looking to create cocktails at home. Major players in the industry include Diageo, Pernod Ricard, and Bacardi. They invest in research and development to launch innovative flavors and packaging. Consumers prefer these products due to their ease of use and consistent taste. The market is expected to continue expanding due to increasing demand for premium and convenient beverage options.

The Spirit-Based RTD Mixes market is experiencing significant growth, particularly in the popular categories of Alcopops, Cobbler, Cocktails, and Bai Antioxidant Beverages. Key players include Alcopops like Bacardi Dark Rum, and classic cocktails such as Mojitos, Martini, Manhattan, Cosmopolitan, Old Fashioned, and more. Craft distilleries are gaining traction, offering unique, fresh & premium spirits in various liquors like rum, vodka, whiskey, and gin. Consumption trends are shifting towards urban areas with a young population, leading to increased sales in On-Trade, Specialist Retailers, Convenience Stores, Supermarkets, Hypermarkets, and Online Stores. However, concerns over health issues like liver damage, dental disorders, diabetes, and infertility, as well as environmental issues like Aluminum cans in landfills, are influencing consumer preferences. Ingredients like triammonium citrate, dioctyl sodium, sodium dioctylsulfosuccinate, alcohol ethoxylate, and benzene sulfonates are used in the production of these RTDs, but their impact on health and the environment is a concern. Inflation and rising alcohol prices are also factors impacting the market. Dark spirit-based RTDs are popular choices, with barley malts adding to their appeal. Overall, the market is expected to continue growing, with innovation and sustainability being key drivers.

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Market Challenges

• The Spirit-Based Ready-to-Drink (RTD) Mixes market is experiencing steady growth due to increasing consumer preference for convenience and variety. These mixes offer an easy solution for creating cocktails at home, eliminating the need for measuring and mixing individual ingredients. Major players in this market include Diageo, Pernod Ricard, and Brown-Forman, who invest in research and development to introduce innovative flavors and packaging. The market is expected to continue growing, driven by consumer trends and the expanding global cocktail culture.
• The spirit-based RTD (Ready-to-Drink) mixes market faces several challenges. The use of chemical compounds like triammonium citrate, dioctyl sodium, sodium dioctylsulfosuccinate, alcohol ethoxylate, and benzene sulfonates raises concerns for some consumers. Liquors such as rum, vodka, whiskey, gin, and others in cans or bottles face competition from urban areas with young populations preferring on-premises consumption. Health concerns including liver damage, dental disorders, diabetes, and infertility are growing issues. Aluminum cans and plastic packaging contribute to landfills, adding to environmental concerns. Inflation and rising alcohol prices impact sales. To stand out, spirit-based RTDs must offer fresh & premium ingredients, single serving, sealed containers, and convenience for busy lifestyles. The non-alcoholic beverages market also poses competition. Health-conscious consumers prefer non-alcoholic options. Therefore, spirit-based RTDs must cater to these challenges while maintaining quality and affordability.

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Segment Overview

This spirit-based rtd mixes market report extensively covers market segmentation by

1. Product

• 1.1 Dark spirit-based RTD mixes
• 1.2 Light spirit-based RTD mixes

Distribution Channel

• 2.1 Offline
• 2.2 Online

Geography

• 3.1 North America
• 3.2 APAC
• 3.3 Europe
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Dark spirit-based RTD mixes- The market for spirit-based RTD mixes, particularly those featuring dark spirits like whiskey, rum, and brandy, is experiencing growth due to increasing consumer interest. Dark spirits are valued for their rich, complex flavors, leading to a demand for sophisticated RTD mixes. Premiumization in the beverage industry and the rise of cocktail culture fuel this trend. RTD mixes offer convenience for consumers seeking a well-crafted cocktail experience without the need for mixing skills. Brands are innovating with unique flavor profiles and limited-edition releases to attract consumers. Beam Suntory Inc., a major player in the spirits industry, offers the Jim Beam Highball, a spirit-based RTD cocktail featuring bourbon and club soda, providing a refreshing and convenient option for consumers. These factors contribute to the growth of the dark spirit-based RTD mixes segment of the global spirit-based RTD mixes market.

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Research Analysis

The Spirit-Based RTD (Ready-to-Drink) Mixes market is a vibrant and growing sector in the beverage industry. These mixes offer consumers the convenience of making cocktails at home with just the addition of alcohol. Alcopops, Cobblers, and Cocktails are popular choices, with Mojitos, Martini, Manhattan, and Cosmopolitan being classic favorites. Fresh and premium ingredients are used to create these mixes, which come in single-serving, sealed containers for added convenience. Chemical compounds like triammonium citrate, dioctyl sodium, sodium dioctylsulfosuccinate, alcohol ethoxylate, and benzene sulfonates are used as stabilizers and emulsifiers in some RTD mixes. Liquors like rum, whiskey, and vodka are commonly used as base spirits. Other popular spirits include bourbon and alcohol. Packages often come with shot glasses, plastic balls, or other accessories to enhance the drinking experience. Bai Antioxidant Beverages and Craft distilleries also offer RTD mixes, adding to the variety and innovation in this market. Overall, the Spirit-Based RTD Mixes market caters to consumers who want to enjoy high-quality, convenient, and delicious cocktails at home.

Market Research Overview

The Spirit-Based RTD (Ready-to-Drink) Mixes market encompasses a wide range of beverages, including Alcopops, Cobblers, Cocktails, and Bai Antioxidant Beverages. These drinks are often made with dark spirits like rum, such as Bacardi Dark rum, or liquors like whiskey, vodka, gin, and various types of rum. They come in various packages, such as cans and bottles, and are sold in On-Trade establishments, Specialist Retailers, Convenience Stores, Supermarkets, Hypermarkets, Retail Stores, and Online Stores. The market is driven by the convenience factor, appealing to busy lifestyles and urban areas with a young population. However, health concerns, such as liver damage, dental disorders, and diabetes, are growing issues. The use of chemical compounds like triammonium citrate, dioctyl sodium, sodium dioctylsulfosuccinate, and alcohol ethoxylate, as well as benzene sulfonates, raises concerns about potential health risks. The market faces challenges from inflation and environmental issues, such as the use of aluminum cans and the impact on landfills. The Non-alcoholic beverages market is also growing, offering competition. Despite these challenges, the market continues to thrive, with a focus on fresh and premium ingredients, single serving sizes, and sealed containers. Spirit-Based RTDs come in various styles, such as Mojitos, Martini, Manhattan, Cosmopolitan, Old Fashioned, and more. They can be enjoyed in shot glasses or with plastic balls, adding to their appeal. Whisky, Bourbon, Vodka, White rum, and other spirits are also popular choices for RTDs.

Table of Contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation

• Product
• Dark Spirit-based RTD Mixes
• Light Spirit-based RTD Mixes
• Distribution Channel
• Offline
• Online
• Geography
• North America
• APAC
• Europe
• South America
• Middle East And Africa

7 Customer Landscape

8 Geographic Landscape

9 Drivers, Challenges, and Trends

10 Company Landscape

11 Company Analysis

12 Appendix

About Technavio

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