Malt Based Ready-To-Drink Cocktails Market Size (2024-2030)

The Global Malt-Based Ready-To-Drink Cocktails Market was valued at USD 788.06 Million and is projected to reach a market size of USD 1,167.84 Million by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 5.78%.

Malt-based drinks are fermented drinks made from the grain of barley plant by malting it before it is processed into a drink. The process involves steeping, germinating, and drying grain that turns the drink into a malt-based drink. Often, these drinks come with flavours, which are known as malternatives or alcopops. Moreover, malt-based drinks are considered to be nutritional that contain fibre, potassium, folate, and vitamin B6. Further, increasing demand for malt-based drinks has given rise to ready-to-drink cocktails that are available in canned and bottled packaging. This ready-to-drink version allows consumers to drink premixed malt-based cocktails at home or on the go. Furthermore, rising demand for tasty yet healthy drinks has induced manufacturers to produce natural flavours and calorie-free Malt Based Ready-To-Drink cocktails. These include fruity flavours such as cherry, orange, vegetable-flavoured malt-based cocktails, and sugar-free and gluten-free cocktails.

In addition to that, weekend party culture has increased the consumer’s demand for refreshments and relaxing drinks, which in turn has boosted the market for Malt Based Ready-To-Drink cocktails.

Global Malt Based Ready-To-Drink Cocktails Market Drivers:

Growing weekend party culture has boosted the demand for Malt Based Ready-To-Drink Cocktails in the market.

The busy working schedule has induced people to get rid of the hectic lifestyle and relax on weekends. This includes partying on weekends either at home or at clubs, which has increased the usage of ready-to-drink cocktails. Further, malt-based ready-to-drink cocktails enable consumers a premixed flavoured drinking experience that is available in a can or bottle, which is easy to serve without using any drinks-making equipment, does not involve mixing, and can be consumed directly. Moreover, due to the variety of flavours available through online and offline platforms, it has become easier for consumers to get cocktails without much hassle. Additionally, margaritas, punch, ranch water, and other exciting flavours have contributed towards the demand for Malt Based Ready-To-Drink cocktails at parties.

Rising demand for low alcohol by volume (low ABV) drinks has boosted the demand for Malt Based Ready-To-Drink Cocktails in the market.

Due to the ill effects of alcohol intake, there has been a growing demand for drinks that offer low (ABV) content. Alcohol has negative effects on the nervous system and is the major reason for liver damage. As per WHO (World Health Organization), alcohol consumption has caused death and disability early in life, especially in people aged between 20-39 years. Additionally, 13.5% of total deaths are caused by alcohol consumption. Therefore, consumers have shifted their attention towards healthy drinking options, which has increased the demand for Malt Based Ready-To-Drink cocktails in the market. Malt has a low (ABV) of approximately 4 to 5%, which makes it a preferable base to be used in cocktails. Further, owing to increasing health awareness, demand for sugar-free, carbs-free, gluten-free Malt Based Ready-To-Drink cocktails has increased. Moreover, manufacturers are producing natural ingredients and refreshing flavours that offer taste along with nutritional value to consumers. Additionally, many producers have shifted their production towards herbal, botanical, and citrus-flavoured Malt Based Ready-To-Drink cocktails that provide various health benefits.

Global Malt Based Ready-To-Drink Cocktails Market Challenges:

Increasing competition among manufacturers for producing new flavoured cocktails can hinder the market growth for Malt Based Ready-To-Drink Cocktails.

With rising consumer demand for new and refreshing drinks, manufacturers are constantly introducing new flavours that cater to consumers' taste palettes. Further, many companies are investing in technology that helps in automating the production process. However, this has increased the cost of companies leading to an increase in the final price of the product. Apart from this, there is a challenge in producing canned malt-based cocktails that renders long shelf life as well as maintain their taste and quality.

Lack of consumer awareness regarding ready-to-drink beverages can decline in the market growth for Malt Based Ready-To-Drink Cocktails.

Consumers are suspectable regarding the quality of ready-to-drink cocktails. The mind-set that canned or bottled cocktails are of lower quality and taste compared to traditional malt-based cocktails, can hamper the demand for Malt Based Ready-To-Drink cocktails.

Global Malt Based Ready-To-Drink Cocktails Market Opportunities:

The Global Malt Based Ready-To-Drink Cocktails Market is anticipated to deliver lucrative opportunities for businesses, which include acquisitions, partnerships, collaborations, product launches and agreements during the forecasted period. Furthermore, owing to the increase in demand for refreshing and tasty drinks by consumers and demand for long shelf-life alcoholic beverages can develop the market for Malt Based Ready-To-Drink cocktails and enhance its future growth opportunities.

COVID-19 Impact on Global Malt Based Ready-To-Drink Cocktails Market:

The pandemic had a mixed impact on the Malt Based Ready-To-Drink cocktails market. As the global lockdown initiated the demand for necessary goods, consumers declined consumption of luxurious commodities, which included cutting down on costly beverages. On the other hand, increased health awareness increased the demand for ready-to-drink malt-based cocktails that contained no gluten and sugar.  Additionally, consumption of citrus-flavoured malt-based cocktails such as orange, cranberry, passion fruit, lemon, and others increased among consumers. Moreover, the sale of ready-to-drink cocktails witnessed an increase from e-commerce platforms as a result of the closure of bars and restaurants.

Global Malt Based Ready-To-Drink Cocktails Market Recent Developments:

• In April 2023, The Boston Beer Company announced the launch of a ready-to-drink malt-based cocktails line-up containing 8% of ABV in its Slingers Signature Cocktails segment. The line-up will be available in three flavours- Bahama Mama, Peach Screwdriver, and Pineapple Punch. The launch will increase the market presence of the company and enhance its future growth opportunities.
• In March 2022, Diageo North America opened a new 225,000 sq. ft manufacturing facility for malt-based and spirits-based canned cocktails in Plainfield, Illinois. This expansion aimed to increase productivity and efficiency in its ready-to-drink portfolio.

MALT BASED READY-TO-DRINK COCKTAILS MARKET REPORT COVERAGE:

Global Malt Based Ready-To-Drink Cocktails Market Segmentation:

Global Malt Based Ready-To-Drink Cocktails Market Segmentation: By Type

• Canned
• Bottled

Based on segmentation by type, canned malt-based cocktails occupies the largest share of the market. Canned cocktails are more sustainable and convenient compared to glass bottles as they can be recycled far more easily than glass bottles. Further, they provide a long shelf-life and enhanced taste to consumers. In addition to that, flavoured malt-based cocktails can be easily canned without affecting the taste and texture of the cocktail. Moreover, they are lightweight and compact, which makes them a popular packaging choice by manufacturers. Additionally, manufacturers are introducing premium-designed canned cocktails that match the style statement of consumers.

Bottled malt-based cocktails are predicted to witness significant growth in the market. The segment is anticipated to grow owing to the lack of aluminium for making cans in some countries and the growing demand of consumers for fresh and high-quality malt-based cocktails.

Global Malt Based Ready-To-Drink Cocktails Market Segmentation: By Distribution Channel

• Online
• Offline

Based on segmentation by distribution channel, the offline segment occupies the highest share of the market. Offline distribution channel consists of hypermarkets/supermarkets, liquor stores, and others that provided consumers with a variety of flavour options to choose from. Furthermore, liquor stores witnessed an increase in sales as they saved tax on these types of beverages and also provided with the necessary information about malt-based cocktails such as flavour type, suitability with different food, and others.

The online segment witnessed the fastest growth during the forecasted period owing to the increasing preference of consumers for home delivery and 24*7 availability. Additionally, it enabled consumers to compare prices and products with different brands and shop for the ideal ones.

Global Malt Based Ready-To-Drink Cocktails Market Segmentation: By Region

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America

Based on segmentation by region, North America occupies the highest share of the market. Growing demand for on-the-go drinks, party culture among young adults, and changing lifestyles have contributed to the market for Malt Based Ready-To-Drink cocktails in the region.

Further, consumers in the region have become health conscious, which has increased the demand for healthy malt-based cocktails such as gluten-free and zero-sugar cocktails. Moreover, demand for vegetable and fruit-based cocktails has increased as they provide nutritional value as well as taste to consumers. Additionally, companies are improving their social media strategy by collaborating with social media apps, celebrities, sports persons, and others which has contributed to the growth of the Malt Based Ready-To-Drink cocktails market.

The Asia-Pacific region is anticipated to witness significant growth in the market owing to the influence of Western culture and changing lifestyle of consumers that prefer ready-to-drink products for convenience. Further, there is an increased demand from young adults for exotic-flavoured malt-based cocktails.

Global Malt Based Ready-To-Drink Cocktails Market Key Players:

1. The Boston Beer Company
2. Jack Daniels
3. Ennoble Beverages
4. Diageo PLC
5. White Claw
6. High Noon
7. Haig Club
8. Cocktail 43 Fresco