The global ready to drink (RTD)/high strength premixes market size is anticipated to be valued USD 25.96 billion in 2025, according to a new report by Million Insights. The market is projected to register 4.5% CAGR over the forecast duration. The growing popularity of ready to drink beverages is driving market growth. Further, the rising popularity of beverages with low alcohol content is spurring product demand.
Increasing inclination among millennials about low alcohol content beverages is bolstering the product demand. Such beverages are popular in regions such as Europe and North America owing to the increasing trend of consumption of alcoholic beverages.
However, heavy taxation, cultural as well as religious beliefs and availability of substitute are adversely affecting the market growth. In addition, the adverse impact on the health of these beverages is hampering growth. Governments across the globe have stringent rules regarding the advertising of such alcoholic beverages, which in turn, further limit the market growth.
Store-based distribution channels accounted for the majority of the share in the market. Instant availability is a key factor in driving the segment growth. On the other hand, the online segment is gaining traction, especially because of increasing millennials participation.
North America accounted for the major share in the ready to drink premixes market in 2018. Further, the region is projected to maintain its dominance over the next six years. Europe, on the other hand, is also a major region in terms of consumption. Europe’s growth is driven by the increasing popularity of alcoholic beverages.
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Further key findings from the report suggest:
• By type, RTD division is projected to register the highest growth over the forecast duration. Further, the segment is estimated to hold the largest share in the market from 2019 to 2025.
• North America accounted for the maximum share in the market in 2018. Further, the region is projected to maintain its dominance over the forecast years.
• Key companies involved in the market are Bacardi and Co. Ltd, Diageo Plc, Brown Forman Corp, Suntory Holdings and Halewood International among others. These players are emphasizing on the development of new products to gain the upper hand in the competitive market.
Million Insights has segmented the global RTD/high strength premixes market on the basis of type, distribution channel and region:
RTD/High Strength Premixes Type Outlook (Revenue, USD Billion, 2015 - 2025)
• High-Strength Premixes
RTD/High Strength Premixes Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)
• Stored Based
RTD/High Strength Premixes Regional Outlook (Revenue, USD Billion, 2015 - 2025)
• North America
• Asia Pacific
• Central and South America
• Middle East and Africa
• South Africa