PUBLISHER: Grand View Research | PRODUCT CODE: 1575202
PUBLISHER: Grand View Research | PRODUCT CODE: 1575202
The global canned RTD cocktails market size is estimated to reach USD 5,892.4 million in 2030 and is projected to grow at a CAGR of 15.3% from 2024 to 2030, according to a new report by Grand View Research, Inc. The demographic composition of consumers plays a crucial role in driving the growth of the market. Millennials and Generation Z are key consumer segments fueling the rise of this category. These younger consumers tend to favor convenience, experimentation, and premium experiences, all of which are characteristics offered by canned RTD cocktails. Moreover, millennials, in particular, have shown a strong preference for cocktails and craft beverages but often lack the time or expertise to make them at home. Besides, canned RTD cocktails also provide a solution, offering high-quality, bar-inspired drinks in a convenient format.
The rise of low-alcohol-by-volume (ABV) and non-alcoholic beverages has emerged as a significant trend in the overall alcohol market, including the canned RTD cocktail segment. Consumers are increasingly seeking moderation in their alcohol consumption, whether for health reasons, lifestyle preferences, or simply to maintain social responsibility. Manufacturers are responding to this demand by launching canned cocktails with lower alcohol content or entirely non-alcoholic options.
The rise of e-commerce and direct-to-consumer (DTC) sales has significantly contributed to the growth of the market. With the COVID-19 pandemic accelerating the shift toward online shopping, many consumers have become accustomed to purchasing alcoholic beverages online. This trend has continued post-pandemic, as consumers appreciate the convenience of having canned cocktails delivered directly to their doorsteps. Major brands and emerging startups have taken advantage of this shift by building robust e-commerce platforms and offering subscription services.
Technological innovations in canning processes and preservation methods have enabled manufacturers to maintain the quality, taste, and freshness of canned RTD cocktails. Advances in packaging technology, such as the use of inert gas and improved can linings, have extended the shelf life of these beverages without compromising their flavor profiles. For example, the use of nitrogen flushing during the canning process helps preserve the freshness of ingredients and prevents oxidation, which can degrade the taste of cocktails over time. In addition, innovations in flavor preservation technology ensure that the taste of canned cocktails remains consistent, even after months on the shelf.
Major players in the canned RTD cocktails industry include Diageo, AB InBev, Constellation Brands, Pernod Ricard, SUNTORY HOLDINGS LIMITED, BACARDI, The Coca-Cola Company, Molson Coors Beverage Company, Heineken, and Campari Group. These companies adopt various steps to gain more market share, including global expansion, partnerships, acquisitions and mergers, development and launch of new products, and others.