The premixed bottled cocktails market is projected to reach a valuation of US$ 21 billion in 2023 and is anticipated to grow to US$ 68 billion by 2033.
The premixed bottled cocktails market is projected to reach a valuation of US$ 21 billion in 2023 and is anticipated to grow to US$ 68 billion by 2033. This substantial growth reflects the increasing demand for convenient, ready-to-drink cocktails among consumers. The market's expansion can be attributed to factors such as changing consumer lifestyles, rising disposable incomes, and the desire for premium, bar-quality cocktails in the comfort of one's home.
Manufacturers are capitalizing on this trend by offering a wide range of innovative, high-quality premixed bottled cocktails that cater to diverse tastes and preferences. The market's promising growth prospects make it an attractive opportunity for both existing and new players in the industry.
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Premix Bottled cocktails are premixed, ready-to-drink cocktail beverages sold in glass bottles. Introduced in the 2010s, this is a fresh concept that took off with the millennials showing interest in the premix bottled cocktails that sort of resembled the likes of bottled soft drinks in their younger days.
The only difference is that it is sugar water with alcohol content, thereby packing an extra punch in the drink. Premix bottled cocktails are available in malt-based, wine-based, spirit-based, and other types of bases. The flavours available in the premix bottled cocktails range from fruit flavours, caffeine flavours, traditional flavours (such as Mojito and Bloody Mary), and other flavours.
Compared to the minimal but steady growth of the global cocktail market, the premix bottled cocktail segment is rapidly capturing the consumers, indicating growing interests and popularity in the beverage market and a compounded annual growth rate of more than 4.5% that of the cocktail market over the forecast period.
Developed countries like the U.K. and Germany are showing responsible drinking trends largely, owing to health consciousness among consumers. Though most of the consumers have been identified to be over the age of 45, trend is quite notable among the young as well.
The young consumers rather than going for low-alcohol wines prefer premix bottled cocktails that not only offers great taste but is also aromatic and appealing to the eye. Such drinks are apt for on the go consumption and saves the hassle of creating cocktails while hosting a house party.
A study found that women’s bodies are affected differently by alcohol than men’s bodies. There have been rising cases of women suffering from alcohol and double the cirrhosis death when compared to men. Adult women’s visits to hospitals for overdosing on alcohol also are rising sharply.
This phenomenon is largely observed in the Western world and to put the risky drinking patterns into check, women have started opting for premixed bottled cocktails that contains less alcohol percentage. Also, women are more likely to yield to their sweet tooth, hence they have a close affinity towards cocktails.
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Some of the key players manufacturing premix bottled cocktails are as follows –
Though North America holds the largest market share in the premix bottled cocktails market, the European market is forecasted to grow at a striking rate owing to the preference of bottled packaging for beverages. The European nations such as the U.K., Germany, France, and many others account for approximately 90% of bottled packaging while the rest is covered by canned beverages.
Restaurants and bars in the city of London have keeping and delivering premix bottle cocktails to recover from the losses incurred during the COVID-19 pandemic. Few of the premix bottled cocktail brands are entirely made in France. Others regions such as South Asia, East Asia, and Australia are expected to quickly follow suit while the regions of Latin America and MEA will gradually embrace the market.
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COVID-19 Impact
As a matter of fact, the trend of premix bottled cocktails market grew exponentially in the wake of COVID-19 pandemic. The consumers unable to visit restaurants and bars due to lockdowns and precautionary measures imposed by the government, opted for the online retail options of ordering premix bottled cocktails at their doorstep.
This created a huge impact on the online business of selling premix bottle cocktails for many manufacturers to which other players ramped up their marketing efforts in the online segment. The already trending market thus gained more popularity and will continue to do so post the COVID-19 pandemic.
The premix bottled cocktails market report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions.
By doing so, the research report serves as a repository of analysis and information for every facet of the premix bottled cocktails market, including but not limited to: regional markets, primary ingredient, additive ingredient, bottle size, alcohol content, and sales channel.
The report also features a complete qualitative and quantitative assessment by analysing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the premix bottled cocktails market report projects the attractiveness of each major segment over the forecast period.
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Primary Ingredient:
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Jul 14, 2023
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