Dec 23,2021 | Beverages
With a hasty lifestyle, people who are always on the go now have many options to choose from the ready-to-drink beverage range. Ready to drink (RTD) or packaged beverages are sold in a prepared form and unlike traditional mixes or powders; these drinks can be consumed instantly upon purchase.
Following growing demands, there is a wide selection of drinks available in the market such as canned or bottled ice tea, coffee, smoothies made of fruits or vegetables, energy drinks and alcoholic drinks. In the US, alcohol based ready-to-drink are relatively popular owing to the growing recognition of premium canned spirits, especially among the young adults.
The updated market research analysis accessible on Bharatbook for the United States Alcoholic ready-to-drinks (RTDs) market estimates the market to witness progress at a CAGR of 8.28% in revenue and 9.46% in volume during the forecasting period 2021-2026.
In the United States, the on-trade offers several opportunities for RTDs, such as hard seltzers. This is because on-trade recovery is anticipated to be quick for RTDs than other alcoholic drink categories. In this regard, hard seltzers will gain immense traction, with other brands entering the market.
Additionally, sparkling wine is increasingly demanded among consumers for various occasions such as weddings. Due to COVID-19, there is an increased demand for alcoholic RTDs in home settings, which opens new opportunities for the studied market.
However, the pandemic’s lasting economic impacts are likely to hit beer sales, especially in the on-trade category. This is owing to growing unemployment. Nevertheless, the previous trends of flavoured craft and imported beers are expected to return but at a reduced capacity.
The growing health-consciousness and wellness trends have encouraged the adoption of low-alcohol content drinks across the country. In this regard, the online distribution channels are expected to be highly beneficial to meet the growing popularity. Hence, these factors are expected to boost the alcoholic ready-to-drinks market’s growth.
The dominant companies in the United States alcoholic RTDs market are Diageo Plc, Pernod Ricard Groupe and Mark Anthony Brands Ltd.
To more about the aforementioned market, please visit United States Alcoholic ready-to-drinks (RTDs) market.