Wiseguyreports.Com Adds “RTD Spirit – Global Market Demand, Growth, Opportunities, Analysis Of Top Key Vendors And Forecast To 2025” To Its Research Database.
RTD Spirits, or Ready-to-Drink spirits, are drinks made from different types of hard alcohols, mixed with added flavour. These RTD spirits consist of a pre-mixed proportion of a hard liquor along with a flavoured soda or juice or any kind. RTD spirits can be purchased readymade, which means that the cocktail has already been prepared and produced ready for consumption. The demand for RTD spirits has seen a steady rise in the past few years, catalysing market growth.
RTD spirits have found much popularity amongst millennials, and the younger generation in particular. The convenience and accessibility provided by these drinks is a match made for the fast-paced generation. Earlier, people could only avail cocktail beverage and flavoured spirits at bars or restaurants. People can now purchase these flavoured spirits at their own convenience, and also store it for future use. RTD spirits are preferred by people who are usually on-the-go.
The increased concern for individual health has made RTD spirits a favoured choice for the health conscious. RTD spirits are prepared with a lowered alcoholic content, as compared to drinking hard liquor by itself. The reduced alcoholic content is one of the key factors that drives the RTD spirits market forward. The RTD spirits market also benefits from efficient packaging, making it a preferred option for outdoor gatherings, pool parties, and for large crowds as well. Key players will now have to shift their attention towards reviving the current market and keeping the demand steady with the launch of new, exciting flavours as well as eye-catching packaging.
Top Key Vendors: –
Diageo Plc. (U.K.)
Asahi Breweries, Ltd. (Japan)
Suntory Holdings Limited (Japan)
Bacardi Limited (Bermuda)
Pernod Ricard SA (France)
Halewood International Limited (U.K.)
The Brown-Forman Corporation (US)
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The RTD spirits market is divided based on the type of alcohol used for the beverage production process and the application process involved.
Based on type, the RTD spirits market can be divided into whisky, gin, vodka, tequila, and rum. Manufacturers add these liquors with other flavouring substances and package them as a premixed, readymade beverage.
Based on application, the RTD spirit market can be segmented into on-trade and off-trade. On-trade channels primarily include bars, hotels and pubs, whereas off-trade channels include food retailers such as supermarkets and convenience stores.
The RTD spirit market is regionally segmented into – North America, Europe, Southeast Asia, China, Japan and India. The European and North American markets have a leading market share due to their highly developing economy. This rate of development has also enhanced the range of disposable income. In advanced countries, the popularity of RTD spirits amongst the youth will encourage the demand for the same during parties and gatherings.
The popular aerated beverage company, Coca-Cola, is now looking to extend its brand to the up and coming RTD spirits market segment. Coca-Cola Co. is launching a canned version of Chu-Hi, which contains shochu, a spirit that is made by distilling barley, sweet potatoes and other ingredients. The company is launching the beverage in Japan, which is a key player in the developing RTD spirits market, with a special affinity for canned alcoholic beverages. This is also the first time the company has expanded to produce alcoholic beverages on a commercial scale.
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Source: EIN Presswire