Spirits-Based RTD Mixes Market size is estimated to grow at a CAGR of 7.3% during the forecast period 2020-2025. Spirits based RTD Mixes is a pre mixed/prepared and packed form of cocktail for direct consumption. It’s almost available in all forms of spirits such as whiskey, vodka and rum. Moreover, alcopops are sweet, sugary and alcoholic beverage often made with a mixture of vodka, white rum or wine and can be flavored to taste like soda. They are usually available in a variety of packages such as cans, bottles, shot glasses and plastic balls. Increasing awareness of consumers about RTD mixes owing to the innovation of a wide range of new flavors, rising demand of flavored drinks, growing disposable income, and the hectic schedules of working population is a significant factor driving the Spirits-Based RTD Mixes Market during the forecast period 2020-2025. Moreover, in November 2010 Food and Drug Administration warned four companies that the caffeine added to their alcohol malt beverages is an “unsafe food additive” and warned seizure of their products under federal law. Furthermore, in September 2019 Asahi Premium Beverages launched Two Suns Premium Dry, a collaboration beer made by brewers from two brewing nations-Australia and Japan. With a larger section of the employed population, the demand for convenience flavored alcoholic beverages, non-alcoholic Spirits-Based RTD Mixes, is higher which is likely to boost the economic income of the Spirits-Based RTD Mixes market in the coming years.
By Product- Segment Analysis
By Product, the Spirits-Based RTD Mixes Market is segmented into Dark Spirit-Based RTD Mix and Light Spirit-Based RTD Mix. The Dark Spirit-Based RTD Mix held the largest market share in 2019 owing its ability to lower risk of heart disease, help fight cancer, promote weight loss, and reduce stress, control diabetes risk and lower risk of dementia. Dark spirits, mostly include brandy, whiskey, bourbon and Tennessee whiskey, Canadian Whisky, Irish whiskey and Scotch whisky. Moreover, whisky is a spirit distilled from grain such as barley corn, rice and wheat. A straight whiskey is made from the distillate produced by one operation of a still and added neutral spirits. A blended spirit contains several straight whiskeys and added neutral spirits. Furthermore, in May 2017 Bacardi joined forces with American Electronic music tri Major Lazor for a yearlong experiential campaign featuring multimedia events, music offerings and rum release.
By Distribution Channel- Segment Analysis
By Distribution Channel, the Spirits-Based RTD Mixes Market is segmented into Convenience Store, On Premise, Specialist Retailer, Supermarket and Hypermarket. Among these, the convenience store held the largest share in 2019 offering large number of products including spirits-based RTD mixes to its customers at a particular place. Moreover, Drinks Trade provide most of the on-premise specialist a wide range of services including connecting venues to suppliers, designing menus, purchasing and ranging decision, staff training and more. In addition, the largest on-premise drink specialist in Australia is 100Proof and formed by three major wholesalers-Liquid Mix, Paramount Liquor and Liquid Specialty Beverages, mid 2016.
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Geography- Segment Analysis
APAC contributed to the largest market share of 36% in 2019 owing to the presence of large dominant companies in the region including Asahi Group Holdings Ltd. Increasing demand of carbonated regular and diet soft drinks, energy drinks, sports and isotonic drinks, cordials, iced-tea, ready-to-drink coffee, flavored milk and flavored plant milk are contributing to its market growth. Moreover, the unified voice of Australian Beverages Council offers members presence beyond individual representation in order to promote fairness in the standards, regulation, and policies concerning non-alcoholic beverages. North America spirits-based RTD mixes market is another dominant market as a result of key players including Beam Suntory and Bela holds extensive distribution network in the region and internationally enabling the North American market to capture substantial share in the global market.
Drivers – Spirits-Based RTD Mixes Market
Increasing Demand of Spirits-Based RTD Mixes
Increasing demand of spirits based RTD mixes such as brandy whiskey, bourbon and Scotch whisky providing several health benefits such as lower risk of heart disease, help fight cancer is a significant factor driving the Spirits-Based RTD Mixes market during the forecast period 2020-2025. Furthermore, the increasing demand of beer and vodka is also contributing to its market growth. Growing developments and product launches by major players is a significant factor driving the Spirits-Based RTD Mixes Market during the forecast period 2020-2025.
Increasing Developments in Non-Alcoholic Beverages
Increasing developments in non-alcoholic beverages is a major factor driving the Spirits-Based RTD Mixes Market during the forecast period 2020-2025. Moreover, in January 2020 Diageo has invested in Ritual Zero Proof, the first non-alcoholic spirit distilled in the U.S. that echoes the taste and smell of spirits. The investment is set to drive Ritual’s growth in the US, investing in its direct-to-consumers business and supporting its entry into retail. Alongside, the cash investment, the Ritual founder is set to access the support Diageo’s Distill Ventures dedicated non-alcoholic drinks practice in developing the business over the coming years.
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Challenges – Spirits-Based RTD Mixes Market
High Cost of Spirits-Based RTD Mixes
Some of the factors that is set to impede the growth of Spirits-Based RTD Mixes Market are high cost of Spirits-Based RTD Mixes during the forecast period 2020-2025. High cost of spirits coupled several health problems when consumed in excessive amount is a significant factor hampering its market growth.
Spirits-Based RTD Mixes Market Industry Outlook
Product Launches, Merger & Acquisition, joint ventures, and R&D activities are key strategies adopted by the players in Spirits-Based RTD Mixes Market. Spirits-Based RTD Mixes Market top 10 companies are Asahi Brewery, Bacardi Limited, Beam Suntory, Beverage Brand, Diageo, Distell, Gruppo Campari, Halewood International, La Martiniquaise and Pernod Richard.
July 2019: Pernod Richard launched no-alcohol “dark-spirits in UK.
The Dark Spirit-Based RTD Mix held the largest market share in 2019 owing its ability to lower risk of heart disease, help fight cancer, promote weight loss, and reduce stress, control diabetes risk and lower risk of dementia.
Amongst the distribution channel, convenience store held the largest share in 2019 offering large number of products including spirits-based RTD mixes to its customers at a particular place.
APAC contributed to the largest market share of 36% in 2019 owing to the presence of large dominant companies in the region including Asahi Group Holdings Ltd.
Increasing demand of spirits based RTD mixes such as brandy whiskey, bourbon and Scotch whisky providing several health benefits such as lower risk of heart disease, help fight cancer is a significant factor driving the Spirits-Based RTD Mixes market during the forecast period 2020-2025.
Related Reports :
A. Spirits Packaging Market
B. Liqueurs Market
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