Online Ready-to-Drink Cocktails Market Size (2023 – 2030)

The Global Online Ready-to-Drink Cocktails Market was valued at USD 678 million and is projected to reach a market size of USD 1302.17 million by the end of 2030. Over the forecast period of 2023-2030, the market is projected to grow at a CAGR of 8.5%. 

Online Ready-to-Drink Cocktails have been around for quite a long time and have gained popularity among consumers due to their convenience and versatility. Moreover, rising consumer demand for exotic and tropical flavours has induced manufacturers to experiment with cocktails with various flavours and serve the changing consumers’ palette. In recent times, read-to-drink cocktails have been witnessing increased growth due to the convenience they offer to consumers, that is, they save time and provide a relaxing drinking experience anywhere without the need for mixing equipment or bartending skills. Moreover, busy lifestyles and hectic working schedules have increased the demand for healthy ready-to-drink cocktails such as cocktails made from plant-based ingredients or cocktails with no sugar or calories. Additionally, the increase in the online presence of beverage companies has boosted the sale of online-ready-to-drink cocktails as consumers prefer contactless and hassle-free delivery options. Furthermore, the future holds positive for online ready-to-drink cocktails, as consumers increase their demand for exotic and vegan cocktails, especially for at-home drinking experiences.

Key Market Insights:

As per Drizzly, ready-to-drink cocktails witnessed an increase in demand from consumers and accounted for 2.8% of total shares on Drizzly. Of which, the hard seltzer category occupied 2.7% in 2022. Moreover, online ready-to-drink cocktails gave rise to at-home cocktail-drinking experiences. As per Bacardi Holiday Survey 2020, 25% of US respondents preferred cocktails at home. In addition, 20% responded that about 1 in 5 consumers in the UK hosted virtual cocktail parties from their homes. Furthermore, as per Neilson’s report, ready-to-drink cocktails show an increase of about 131% in the USA off-trade. In a recent press release, Jack Daniel’s RTD (ready-to-drink cocktails) products witnessed an increase of about 12% globally. dddhFurthermore, as per the Distilled Spirits Council of the United States, RTD cocktails were the fastest-growing spirits category in the year 2021, accounting for 42.3% sales growth compared to 2020.

Online Ready-to-Drink Cocktails Market Drivers:

Increasing consumer demand for convenience beverages drives the demand for online ready-to-drink cocktails in the market.

With busy working schedules and hectic lifestyles, consumers shifting their preference towards on-the-go consumption beverages that provide them relaxation and suit their taste buds. Moreover, the increased presence of beverage companies on online platforms has increased consumer demand for ready-to-drink cocktails, as it saves their time and offers them a variety of flavour options to choose from. Moreover, these cocktails require no preparation and save consumers time for preparing cocktails from scratch. Additionally, online delivery offers instant satisfaction as consumers can access varied flavours of ready-to-drink cocktails from different regions. Further, it reduces clutter and makes it easy for consumers to carry ready-to-drink cocktail cans or bottles without the need to carry mixing equipment.

The increase in weekend party culture has boosted the demand for online-ready-to-drink cocktails in the market.

The hectic working schedule has induced people to get rid of the busy lifestyle and relax on weekends. This includes partying on weekends either at home or at clubs, which has increased the usage of online ready-to-drink cocktails. Further, ready-to-drink cocktails enable consumers a premixed flavoured drinking experience that is available in a can or bottle, making it easy to serve without using any mixing equipment, and consuming it directly. Moreover, due to the availability of a wide variety of flavours available through online speciality beverages and e-commerce platforms, it has become easier for consumers to get cocktails without much hassle. Additionally, coconut, mint, coffee, fruit-based, bloody mary, plant-based cocktails, and other exciting flavours have contributed towards the demand for online-based-ready-to-drink cocktails at parties and other social gatherings.

Online Ready-to-Drink Cocktails Market Restraints and Challenges:

Market saturation and competition can dampen the growth of online-ready-to-drink cocktails in the market. With the increase in consumer demand for on-the-go consumption beverages manufacturers are constantly making efforts to experiment with new flavours and cater to the changing consumer palette. Further, the increase in online marketing campaigns by companies is saturating the online marketplace, making it sometimes annoying and difficult for consumers to choose ready-to-drink cocktails online.

Furthermore, the lack of consumers’ awareness regarding the taste and quality of ready-to-drink cocktails, can further reduce its demand in the market. Consumers have a mindset that packed or canned cocktails sold online may have deteriorated taste and quality compared to conventional cocktails, making it difficult for companies to enhance their market base.

Online Ready-to-Drink Cocktails Market Opportunities:

The Global Online 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 along with increased demand for vegan cocktails is predicted to develop the market for online based-ready-to-drink cocktails and enhance its future growth opportunities.

ONLINE READY-TO-DRINK COCKTAILS MARKET REPORT COVERAGE:

Online Ready-to-Drink Cocktails Market Segmentation: By Base

• Spirit-Base

• Wine-Base

In 2022, base dons market segmentation by the base, spirit-based cocktails occupies the highest share of about 35% in the market. Spirit-based cocktails are prepared using various spirits such as vodka, gin, rum, tequila, whiskey, and others. Moreover, these cocktails are specifically prepared to cater to the flavour requirements of consumers and provide a relaxing effect to consumers. Further, vodka and tequila-based cocktails are among the popular ready-to-drink cocktails among consumers. These include margaritas and Moscow mules. Palomas, tequila Sunrise, and others.

The wine-base cocktails are the fastest growing segment and are growing at a fast CAGR of 10% during the forecast period. The growth is attributed to rising consumer demand for healthier cocktails, as wine is considered a healthier drink than other drinks. Moreover, it offers greater versatility, as it can be combined with various other ingredients, especially fruit-based ingredients. In addition, these wine-based ready-to-drink cocktails have low ABV content and hence are widely demanded by consumers. Sangria, Mojito, wine spritzers, and fruit-flavoured cocktails such as berry and mango-flavoured cocktails are some of the popular wine-based cocktails among consumers.

Online Ready-to-Drink Cocktails Market Segmentation: By Packaging

• Bottles

• Cans

In 2022, the bottle segment occupies the highest share of the market at about 29% in the market. Bottled ready-to-drink cocktails, especially plastic bottled cocktails have gained popularity, as they can be carried easily and reduce wastage as they come with resealable caps, that allow consumers to drink only the required amount of cocktail as per their need and store the remaining for future use, thus contributing towards reducing environmental pollution. Further, glass-bottled cocktails are also demanded by consumers due to their premium look and quality.

The cans segment is the fastest-growing segment and is growing at a fast CAGR of 12% during the forecast period. Canned ready-to-drink cocktails have gained popularity due to their portability and compact size which makes them suitable for on-the-consumption and at-home parties. Further, cans can cool down more quickly than bottles, allowing them to stay cold for longer hours.

Online Ready-to-Drink Cocktails Market Segmentation: Regional Analysis

• North America

• Asia-Pacific

• Europe

• South America

• Middle East and Africa

In 2022, based on market segmentation by region, North America occupies the highest share of about 30% of the market. Rising consumer demand for on-the-go consumption drinks, party culture among young adults, and busy lifestyles have contributed to the market for online-ready-to-drink cocktails in the region. Furthermore, increasing health consciousness among consumers in the region has increased the demand for healthy ready-to-drink cocktails such as gluten-free or zero-sugar cocktails. Moreover, demand for vegetable and fruit-based cocktails has increased as they provide nutritional value and taste to consumers. Additionally, companies are optimizing their social media strategy by collaborating with social media influencers, celebrities, sports persons, and others to increase their online market presence in the region.

The Asia-Pacific region is the fastest-growing region and is growing at a fast CAGR of 17% during the forecast period. Due to The influence of Western culture, the increase in the youth population, and the changing lifestyle of consumers that prefer ready-to-drink products for convenience, have contributed to the demand for online-ready-to-drink cocktails in the region. Further, there is an increased demand for exotic and tropical-based ready-to-drink cocktails due to their relaxing taste and rejuvenating experience.

COVID-19 Impact Analysis on the Global Online Ready-to-Drink Cocktails Market:

The pandemic had a significant impact on the online-ready-to-drink cocktails market. Due to the global lockdown, there was an increase in demand for necessary goods, which declined the consumption of luxurious commodities such as expensive beverages. However, increased health awareness raised the demand for vegan ready-to-drink cocktails that contained plant-based ingredients.  Moreover, consumption of vegetable and fruit-flavoured ready-to-drink cocktails increased from the e-commerce platforms due to numerous benefits such as contactless delivery and payments, faster delivery process, easy product/price comparison, and a wide variety of cocktail flavours available online.

Latest Trends/ Developments:

The global Online Ready-to-Drink Cocktails Market is reasonably split and fragmented with the existence of several global companies. These players are motivated to achieve higher market share by implementing different strategies, such as acquisitions, partnerships, and investments. Rising consumer demand for vegan and organic beverages induced companies to produce plant-based cocktails such as those with fruits and vegetables. Moreover, due to competition in the market, companies optimized their marketing strategies by collaborating with social media influencers who can promote their products online and showcase their benefits to consumers.

Furthermore, innovative contests and offers by beverage companies on online platforms attracted consumers from various geographic locations. Apart from this, trends in personalized and customized cocktails section online speciality ready-to-drink cocktails platform, enabled consumers to tailor their cocktail requirements online and get it delivered to their doorsteps. Furthermore, to increase their online market presence, several beverage companies hosted virtual tasting workshops by sending sample products to consumers’ homes free of cost and increased their engagement on online platforms.

Key Players:

1. Backardi Ltd

2. Pernod Ricard

3. Pepsi Co

4. Halewood Wines & Spirits

5. Brown Forman

6. On The Rock Cocktails

7. Boisson

8. Two Chicks Cocktails

9. Diageo Plc

10. House of Delola, LLC

11. Jim Beam

• In March 2023, Jim Beam launched ready-to-drink canned cocktails in four flavours. These flavours are strawberry punch, black cherry lemonade, sweet tea lemonade, and citrus punch. The product will be available nationwide on the company’s website.

• In March 2023, Jack Daniels and Coca-Cola jointly launched ready-to-drink canned cocktails in the USA. The product is a Tennessee Whiskey-based zero-sugar cocktail and contains 7.0% alcohol.