Asia Pacific RTD Cocktails Market Forecast to 2030 - Regional Analysis - by Base Type, Packaging Type, and Distribution Channel

The Asia Pacific RTD cocktails market was valued at US$ 5,498.07 million in 2022 and is expected to reach US$ 20,616.63 million by 2030; it is estimated to grow at a CAGR of 18.0% from 2022 to 2030.

Strong Preference for RTD Alcoholic Beverages Among Consumers fuel the Asia Pacific RTD Cocktails Market

The consumption of high-quality RTD cocktails is increasing worldwide, which is currently one of the biggest trends in the alcoholic beverage industry. The convenience offered by RTD alcoholic beverages, such as RTD cocktails, allows consumers to save time and effort associated with ingredient shopping, mixing, and preparing drinks. Due to hectic work schedules, consumers prefer to be efficient with their time rather than spending it on tedious tasks. Thus, they are more likely to spend their money on convenience, which dives into the popularity of RTD beverages such as cocktails and hard seltzers. Moreover, the consumers worldwide gravitated toward RTDs as a convenient way to enjoy their favorite cocktail at home during the pandemic. Adult consumers strongly want greater access to spirit-based RTDs in the marketplace, including at restaurants and bars, grocery and convenience stores, and entertainment venues such as concerts and sporting events. Thus, a surging preference for RTD alcoholic beverages among consumers is driving the RTD cocktail market across the Asia Pacific. RTD cocktails featuring whiskey, vodka, gin, rum, and tequila have gained popularity in recent years. These beverages used as a base beverage in RTD cocktails, are catered to consumer’s requirement who appreciate rich, complex flavors of these spirits and enjoy classic cocktails like ‘Old Fashioned’. Consumers who enjoy the distinct taste and agave notes of tequila increasingly prefer tequila based RTD cocktails. Rum-based RTD cocktails, such as margaritas or pina coladas, have a tropical appeal and are often associated with summer and beach settings. Vodka-based RTD cocktails are quite popular due to vodka’s versatility and neutral flavor profile. Gin-based RTD cocktails, particularly those with classic flavors like gin martinis, are favored by consumers who enjoy the distinct botanical notes and refreshing qualities of gin. Hence, the availability of a wide variety of base ingredients in the global marketplace and diverse consumer preferences for RTD cocktails are fueling the RTD cocktails market growth across the Asia Pacific.

Asia Pacific RTD Cocktails Market Overview

Consumers in Asia Pacific are increasingly seeking premium and high-quality RTD cocktails with unique flavors and ingredients, leading to the emergence of craft and artisanal offerings in the market. Through new product launches, the market players are fulfilling the requirements of new flavors in RTD cocktails. For instance, October 2022, Radico Khaitan launched RTD cocktails range under the ‘Magic Moments’ vodka category. These RTD cocktails' category of 'Magic Moments Vodka Cocktails' contain a vodka base with 4.8% alcohol and are being sold in cans.

The trend of healthier lifestyles has influenced the RTD cocktail market. Manufacturers are introducing low-calorie, low-sugar, and natural ingredients-based options to cater to health-conscious consumers. Eco-friendly packaging and sustainable sourcing of ingredients have become important trends in the RTD cocktails market in Asia Pacific. Consumers are increasingly showing a preference for brands that prioritize sustainability and environmental responsibility. RTD cocktails offer convenient and hassle-free options to enjoy cocktails without the need for extensive preparation or bartending skills. Hence, the convenience offered by the RTD cocktails drives the RTD cocktails market in the region. Growing urbanization and changing lifestyle patterns have led to an increased demand for on-the-go and ready-to-consume products, including RTD cocktails. As disposable income continues to rise in countries of Asia Pacific, such as China, India, Australia, and Vietnam, consumers are willing to spend more on premium and indulgent products, including RTD cocktails. Moreover, manufacturers' effective marketing campaigns and promotional strategies have played a significant role in creating awareness and driving the demand for RTD cocktails in Asia Pacific.

Asia Pacific RTD Cocktails Market Revenue and Forecast to 2030 (US$ Million)

Asia Pacific RTD Cocktails Market Segmentation

The Asia Pacific RTD cocktails market is segmented based on base type, packaging type, distribution channel, and country. Based on base type, the Asia Pacific RTD cocktails market is segmented into malt based, tequila based, vodka based, whiskey based, and others. The malt based segment held the largest market share in 2022.

Based on packaging type, the Asia Pacific RTD cocktails market is segmented into bottles, cans, and others. The cans segment held the largest market share in 2022.

Based on distribution channel, the Asia Pacific RTD cocktails market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. The specialty stores segment held the largest market share in 2022.

Based on country, the Asia Pacific RTD cocktails market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. The Rest of Asia Pacific dominated the Asia Pacific RTD cocktails market share in 2022.

Bacardi Limited, Beam Suntory Inc, Constellation Brands Inc, and New Holland Brewing Co LLC are some of the leading players operating in the Asia Pacific RTD cocktails market.