RTD Alcoholic Beverages Market Growing at 4.6% CAGR to Reach $39,428.9 Million by 2027 Fuelled by Millennial

The RTD Alcoholic Beverages Market will reach $39,428.9 Million by 2027 from $26,447.9 Million in 2018 to grow at 4.6% CAGR during (2019-2027).

PUNE, MAHARASHTRA, INDIA, January 23, 2020 /EINPresswire.com/ -- The key players present in global RTD alcoholic beverages market are Anheuser-Busch InBev NV, Asahi Group Holdings, Ltd., Bacardi Limited, Carlsberg Breweries A/S, Suntory Holdings Limited, Brown-Forman, Heineken N.V., Diageo plc., Davide Campari-Milano S.p.A, and Molson Coors Brewing Company among others.

The overall global RTD alcoholic beverages market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the RTD alcoholic beverages market. Also, multiple primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the RTD alcoholic beverages market.

According to a recent survey done by FONA International Inc., RTD alcoholic beverages have gained high acceptance from millennial consumers. The availability of a wide range of flavors, light alcohol content, and convenience are attracting maximum young millennial to try these products. Currently, there are beer cocktails, like Watermelon Frose-Rita Cocktail in pouches ready for the Millennial’s tailgate or picnic. Easy to drink and heartier in alcohol content, RTD’s are enjoyed by both men and women.

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Asia Pacific holds the largest share of the global RTD alcoholic beverages market and is forecast to maintain its dominance over the forecast period. The Asia Pacific region is expected to garner a significant share in the global RTD alcoholic beverages market owing to the large production and consumer base in the area. Countries such as India, China and Japan are among the largest consumers of RTD alcoholic beverages in the Asia Pacific region.

Asia-Pacific is also among the largest global producer of alcoholic beverages. Changing consumer lifestyles, rising disposable income and variation in tastes & preferences and social & cultural factors in these countries are stimulating the growth of RTD alcoholic beverages market in this region. The population of Asia-Pacific represents diversified tastes and preferences and fond of experimenting with food & beverages varieties. This fact has forced manufacturers to innovate and widen their product portfolio to meet the dynamic consumer demand.

RTD alcoholic beverages are gaining popularity over the past few years and are mostly consumed as cocktails and long drinks. The growing preference for RTD cocktails by millennial in developed countries coupled with the easy availability of these products in the market is driving the growth of the RTD alcoholic beverages market. The customers in developed countries such as US, Germany, and Canada and developing countries such as India, China, and Argentina have become more aware of the adverse impact of excessive alcohol consumption and are moving towards low alcohol content beverages. RTD alcoholic beverages are a good substitute for full-strength alcoholic drinks. The consumers looking for cutting down alcohol consumption prefer these beverages as they have very low alcohol levels.

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Key Questions Answered in RTD Alcoholic Beverages Market:

Q.1. Which key factors drive the growth of RTD alcoholic beverages market across the globe?
Ans. The rising preference towards low-content alcoholic beverages coupled with the increasing preference for RTD alcoholic beverages amongst millennial have been the key factors driving the growth of RTD alcoholic beverages market across the globe. According to a recent survey done by FONA International Inc., RTD alcoholic beverages have gained high acceptance from millennial consumers. The availability of a wide range of flavors, light alcohol content, and convenience are attracting maximum young millennial to try these products.

Q.2. Which global region is the largest market for RTD alcoholic beverages?
Ans. Asia Pacific accounted for the largest market in the RTD alcoholic beverages region. Countries such as India, China, and Japan are among the largest consumers of RTD alcoholic beverages in the Asia Pacific region. Asia-Pacific is also among the largest global producer of alcoholic beverages. Changing consumer lifestyles, rising disposable income and variation in tastes & preferences, and social & cultural factors in these countries are stimulating the growth of the RTD alcoholic beverages market in this region.

Q.3. Which is the most widely consumed base type of RTD alcoholic beverages and why?
Ans. Vodka is the most widely consumed base type of the RTD alcoholic beverages. A study conducted by Affinnova, Inc. shows that package design in the vodka market plays a vital role in shelf impact and consumer perception. Increasing popularity of beverages offered by Cutwater such as vodka sodas, bloody mary, and vodka mule is anticipated to boost the market growth of vodka based RTD market.

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