Test RTD Alcoholic Beverages Market

Normal 0 false false false EN-US X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin-top:0cm; mso-para-margin-right:0cm; mso-para-margin-bottom:8.0pt; mso-para-margin-left:0cm; line-height:107%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Roboto Condensed"; mso-ascii-font-family:"Roboto Condensed"; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:"Roboto Condensed"; mso-hansi-theme-font:minor-latin; mso-ansi-language:EN-US; mso-fareast-language:EN-US;} RTD alcoholic beverages are ready-to-drink beverages with a certain amount of alcohol content in them. The growth of the global RTD alcoholic beverages market is driven by the rising association of RTD beverages with convenience. Rising consumer preference for low alcoholic beverages is another factor boosting the sales of RTD alcoholic beverages. Players operating in the global RTD alcoholic beverages market are expected to witness lucrative opportunities owing to product innovation, adoption of growth strategies, and growth of the organized retail sector. However, surging demand for non-alcoholic beverages is restricting the market growth.

Normal 0 false false false EN-IN X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin-top:0cm; mso-para-margin-right:0cm; mso-para-margin-bottom:8.0pt; mso-para-margin-left:0cm; line-height:107%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri",sans-serif; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:"Times New Roman"; mso-bidi-theme-font:minor-bidi; mso-fareast-language:EN-US;} RTD alcoholic beverages are convenience drinks that can be consumed immediately post their purchase and at any time and place. Ready-to-drink alcoholic beverages are contributing to the growth of the overall alcoholic beverages segment as they are being perceived as convenient and on-the go alcoholic drinks. Consumers are looking for convenience, and alcoholic beverages such as ready-to-drink cocktails, and alcopops are offering consumers with the same, as the consumers no longer must sit at a bar or a restaurant to enjoy an alcoholic drink. RTD alcoholic beverages are gaining demand across the global populace, especially among the millennials, who associate ready-to-drink beverages with convenience, premiumization, innovation, and a perfect blend in their social lifestyle. Alcoholic beverages in ready-to-drink formats are no longer perceived as cheap and tacky, rather, they provide style, convenience, and social connection. Manufacturers are launching products in new packaging such as cans, boxes, and Tetra Pak, which provide for more convenient and portable options to the consumers. Ready-to-drink alcoholic beverages are gaining demand as a convenience drink in social gatherings, outdoor picnics, pool-side parties and other such occasions that require relaxing and unwinding from the daily-routine chores.

Hence, rising association of RTD beverages, including alcoholic beverages, with convenience is boosting the growth of global RTD alcoholic beverages market and is expected to continue to do so during the upcoming years.

Normal 0 false false false EN-IN X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin-top:0cm; mso-para-margin-right:0cm; mso-para-margin-bottom:8.0pt; mso-para-margin-left:0cm; line-height:107%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri",sans-serif; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:"Times New Roman"; mso-bidi-theme-font:minor-bidi; mso-fareast-language:EN-US;} Consumers, especially the millennial have more inclination towards new flavors. They are upfront towards experimenting with new and uniquely flavored beverages to satiate their taste buds. This is seen as one of the potential opportunities for the manufacturers of RTD alcoholic beverages to generate high revenues through their offerings. Providing consumers with unique flavor blends or customizable offerings will attract consumers towards the product-line thereby supporting the sales. Market players are experimenting with new and interesting flavors that traditionally have only been available in bars. According to MRFR analysis, majority of consumers prefer the assorted flavour option in hard seltzers, depicting the eagerness among consumers for flavour choice. Product innovation, in terms of flavour, has offered several growth opportunities to many market players. For instance, the UK based VK brand of the Global Brands Ltd, involved its customers in the new product development process and launched a new product line offering the most desired flavour by its customers. Owing to which, the VK brand is witnessing huge demand in the UK’s both off-trade and on-trade markets. RTD alcoholic beverages market has for long being witnessing several product innovations. RTDs, in alcoholic beverage market were once recognised only by the brightly coloured alcopops, however, this perception has no evolved due to the launch of innovative products such as canned wines, pre-mixed cocktails and hard seltzers.

Thus, rising investments by market players in their R&D, to launch innovative products is expected to offer numerous profitable growth opportunities to the market players during the upcoming years.

Normal 0 false false false EN-US X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin-top:0cm; mso-para-margin-right:0cm; mso-para-margin-bottom:8.0pt; mso-para-margin-left:0cm; line-height:107%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Roboto Condensed"; mso-ascii-font-family:"Roboto Condensed"; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:"Roboto Condensed"; mso-hansi-theme-font:minor-latin; mso-ansi-language:EN-US; mso-fareast-language:EN-US;} The trend of adopting healthy lifestyle is rapidly increasing among the consumers. Mass consumers’ population across the globe is becoming more aware about the food and beverages they consume and compare the products in order to choose the better. Rising consumer awareness, increasing number of informed consumers with clear perceptions and willingness to engage in buying healthy goods are factors that are boosting the demand of non-alcoholic beverages globally. Consumer behavior includes the rate of adoption of new innovative products and their spending decision and as consumers are becoming increasingly aware of the benefits of non-alcoholic beverages, the adoption rate has been increasing. Rising health awareness amongst consumers and pursuit of healthy lifestyle, as well as corresponding purchasing behavior, has opened new market opportunities for industrial players to tap the unexplored market horizon of non-alcoholic beverages. For instance, beverage companies are exploiting the benefits of cultural shift amongst the people from alcoholic beverage consumption to non-alcoholic beverage consumption. Additionally, they are focusing on the development of new and innovative products that not only provide zero alcohol content but align with the health and wellness needs of the consumers. For instance, The Coca-Cola Company launched its VitaminWater range and a new energy drink combining caffeine, guarana extracts and B vitamins. Similarly, kombucha, a fermented tea filled with live bacteria to aid in healthy digestion, is available in RTD formats and is witnessing a hike in its demand as the RTD format is more accessible to consumers. In January 2019, The Coca-Cola Company launched a new product line of alcohol-free sparkling drinks in the US. The product line is available in bar-inspired flavors and ingredients to attract beer, wine and cocktail drinkers.

Thus, surging demand for non-alcoholic beverages and rising focus of non-alcoholic beverage manufacturers on new product development are hampering the market growth of RTD alcoholic beverages.