US Canned Cocktails (RTD Cocktails) Market Size was valued at USD 7.5 Billion in 2023. The canned cocktails (RTD cocktails) industry is projected to grow from USD 7.9 Billion in 2024 to USD 13.2 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.50% during the forecast period (2024 - 2032). One of the main market driver boosting the canned cocktail (RTD cocktail) market is the surge in demand for flavored drinks with reduced alcohol content due to growing health concerns.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Alcohol use is declining as a result of consumers' growing attention to their health and wellbeing. The canned cocktail (RTD cocktail) appeal to consumers who are health-conscious since they have added tastes like lemon, cranberry, orange, and passion fruit, and they have a low alcohol content (4% to 7%). As a result, over time, low alcohol by volume (ABV) drinks have become more popular. They are used in place of wine and other spirits by consumers who are moderate drinkers or who wish to cut back on their alcohol intake. Additionally, the growing need for handy products and evolving lifestyles are what propel market expansion. Market demand is driven by innovations in canned cocktail (RTD cocktail) made with real fruit juices and no artificial sweeteners. Furthermore, the availability of canned cocktail (RTD cocktail) that are gluten-free, organic, and ketogenic encourages more customers to use these products.
In addition, due to their hectic lifestyles and tight work schedules, customers choose ready-to-eat and ready-to-drink items, which is what drives the need for canned cocktail (RTD cocktail). With an increasing number of working women, the working population is predicted to fuel the market for canned cocktail (RTD cocktail). Many consumers prefer to provide prepared beverages at social events and house parties, which fuels the demand for canned cocktail (RTD cocktail). The millennial generation's increasing love for cocktails is anticipated to be a major driver of the canned cocktail (RTD cocktail) market's expansion. Moreover, they have reduced the amount of time and energy needed to make a cocktail, enticing beginners to try these concoctions at home. The canned cocktail (RTD cocktail) provide customers the convenience of enjoying their preferred drinks wherever they are and the rapid gratification they anticipate. Since they don't have enough time to cook all day, young consumers these days are willing to spend more money on convenient and healthful food and drink options. There may be more room to develop in this industry due to the growing demand for premium, organic, canned cocktail (RTD cocktail). Thus, driving the canned cocktails (RTD cocktails) market revenue.
The US Canned Cocktails (RTD Cocktails) market segmentation, based on alcohol base includes malt-based, spirit-based, and wine-based. The spirit-based segment dominated the market mostly. These single-serve drinks come in a variety of tastes and can have an alcohol content of up to 5%. They are often mixed with additional components, like juices. In these cocktails, popular spirits including rum, vodka, gin, tequila, and whiskey are frequently utilized. Spirit-based cocktails have grown in popularity among customers as the best option in the alcoholic beverage category thanks to their wide variety of alternatives, which include infused tastes like ginger, rose, and lavender.
The US Canned Cocktails (RTD Cocktails) market segmentation, based on packaging, includes bottles and cans. The bottles category generated the most income. RTD cocktails were first offered in bottle form and quickly became well-known all over the world. But utilizing glass bottles has become more popular as a result of the aluminum shortage in nations like the United States. The demand for glass bottles of RTD cocktails has surged globally as a result of this market trend.
Figure 1: US Canned Cocktails (RTD Cocktails) Market, by Packaging, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The US Canned Cocktails (RTD Cocktails) market segmentation, based on distribution channel, includes Hypermarkets/Supermarkets, Online, and Liquor Stores. The hypermarkets/supermarkets category generated the most income. The high consumer preference for buying groceries from supermarkets, convenience stores, specialty shops, and grocery stores is projected to keep this segment leading during the projection period. Supermarkets and hypermarkets are preferred by customers due to their wide selection of products and easy shopping.
The canned cocktail (RTD cocktail) market in the US is expanding significantly over the course of the projected period. The region's rising demand for drinks with vodka and whiskey as its main ingredients is propelling the market's expansion. These ready-made cocktails are a great option for younger customers because of their reduced alcohol content and lower cost when compared to those offered in bars. Additionally, the may be linked to consumers' growing desire for a broad range of flavors and their evolving inclination toward portable, convenient goods. Moreover, market’s growth is predicted to be driven by the increasing trend of selling ready-to-drink cocktails through online distribution channels, especially e-commerce platforms like Walmart, Amazon, and others. The U.S. Census Bureau estimates that overall food and beverage product retail sales through online platforms will reach USD 6,912 over the course of the forecast year, from USD 3,347 million in Q1, 2020. Given the state of the world economy, the market for ready-to-drink cocktails from this region is therefore expanding steadily and quickly.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the canned cocktails (RTD cocktails) market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, canned cocktails (RTD cocktails) industry must offer cost-effective items.
Major players in the canned cocktails (RTD cocktails) market are attempting to increase market demand by investing in research and development operations includes The Absolut Company, House of Delola, LLC, Diageo plc, Brown-Forman, Bacardi Limited, Asahi Group Holdings, Ltd., Pernod Ricard, Halewood Wines & Spirits, Shanghai Bacchus Liquor Co., Ltd., Suntory Holdings Limited, Manchester Drinks Company Ltd., and Anheuser-Busch InBev.
Canned Cocktails (RTD Cocktails) Industry Developments
April 2023: A premium line of spirit-based and organic RTD cocktails called "The House of Delola" was introduced by American singer and actress Jennifer Lopez. The three flavors that were introduced were Bella Berry Spritz (10.5% ABV), L'Orange Spritz (10.5% ABV), and Paloma Rosa Spritz (11.5% ABV). These fruit-infused cocktails are lower in calories and more flavorful.
January 2022: Constellation Brands Inc. and The Coca-Cola Company inked a brand authorization agreement for the introduction of FRESCA Mixed, a range of richly flavored, spirit-based RTD drinks, in the United States. In order to provide a transition between crisp hard seltzers and richly flavored bar drinks, the FRESCA brands hope to attract customers looking for more flavorful experiences and premium RTD beverages.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 7.5 Billion |
| Market Size 2024 | USD 7.9 Billion |
| Market Size 2032 | USD 13.2 Billion |
| Compound Annual Growth Rate (CAGR) | 6.50% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2019- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Alcohol Base, Packaging, Distribution Channel, and Region |
| Countries Covered | US |
| Key Companies Profiled | The Absolut Company, House of Delola, LLC, Diageo plc, Brown-Forman, Bacardi Limited, Asahi Group Holdings, Ltd., Pernod Ricard, Halewood Wines & Spirits, Shanghai Bacchus Liquor Co., Ltd., Suntory Holdings Limited, Manchester Drinks Company Ltd., and Anheuser-Busch InBev |
| Key Market Opportunities | Rising interest in cocktails Frequent introduction of new products |
| Key Market Dynamics | Growing inclination for convenience foods Increasing awareness of the advantages of moderate alcohol use for health |
US Canned Cocktails (RTD Cocktails) Market Highlights:
Frequently Asked Questions (FAQ) :
The US Canned Cocktails (RTD Cocktails) market size was valued at USD 7.5 Billion in 2023.
The market is projected to grow at a CAGR of 6.50% during the forecast period, 2024-2032.
The key players in the market are The Absolut Company, House of Delola, LLC, Diageo plc, Brown-Forman, Bacardi Limited, Asahi Group Holdings, Ltd., Pernod Ricard, Halewood Wines & Spirits, Shanghai Bacchus Liquor Co., Ltd., Suntory Holdings Limited, Manchester Drinks Company Ltd., and Anheuser-Busch InBev.
The spirit-based category dominated the market in 2023.
The bottles category had the largest share in the market.
Assistant Manager - Research High acumen in analyzing complex macro & micro markets with more than 6 years of work experience in the field of market research. by implementing her analytical skills in forecasting and estimation into market research reports, she has expertise in packaging, construction, and equipment domains. she handles a team size of 20-25 resources and ensures smooth running of the projects, associated marketing activities, and client servicing.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
