Global Spirit-Based

iCrowdNewswire   Jan 18, 2021  4:00 PM ET

Global Spirit-Based RTD Mixes Market Summary-min

According to a recent market study published by Growth Market Reports (GMR), titled, “Global Spirit-based RTD Mixes Market by Product Types, by Distribution Channels, and by Regions: Size, Share, Trends and Opportunity Analysis, 2019-2027″, the market was valued at USD 10,835.0 Million in 2019 and is expected to grow at a healthy growth rate of 8.3% by the year 2027. The Spirit-based RTD mixes market is anticipated to grow significantly owing to the changing lifestyle and increasing popularity of these drinks. Spirit-based RTD mixes are considered best for the home entertainment most prominently, barbecues when family and friends gather outdoors on weekends, and during holidays. RTD mixes continue to appeal to younger consumers, who prefer sweet flavors and moderate alcohol content as compared to traditional spirits. This growing interest in RTD mixes among the youth is also contributing to the market growth. Besides, RTD mixes can be treated as a better substitute for traditional alcohol or hard liquors.

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The Spirit-based RTD mixes market has been fragmented based on product types, distribution channels, and regions. In terms of product types, the market has been bifurcated into Dark Spirit-Based RTD Mixes and Light Spirit-Based RTD Mixes. Based on the distribution channel, the market has been divided into Supermarkets and Hypermarkets, On-Trade, Specialist Retailers, Convenience Stores, and others. Based on the regions, the Spirit-based RTD mixes market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). North America region is further bifurcated into countries such as the U.S. and Canada. The Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, the Asia Pacific is further segmented into, China, Japan, South Korea, Australia, Southeast Asia, and Rest of Asia Pacific. The European region is further categorized into Germany, France, Italy, the U.K., Spain, Russia, and the Rest of Europe, and the MEA region is further divided into Saudi Arabia, South Africa, UAE, and the Rest of MEA.

Market Introduction
The COVID-19 pandemic is affecting production activities across food and beverage, food packaging, and other industries worldwide, the demand for spirit-based RTD mixes went up for a while. As people were stuck at their homes for several months of lockdown, and shelves in stores got emptied. Regarding the spirit-based RTD mixes market, as production has slowed down, as only half the workforce, is working its borderline struggling to meet up with the demands. This is causing a shortage of spirit-based RTD mixes in some areas. Amid strong demand for spirit-based RTD mixes, the shutdown of restaurants, hotels, pubs, and also ban on the retail of alcoholic beverages in some major economies such as India is anticipated to affect the normal growth pattern of the market in 2020. However, this effect is expected to be temporary, and the market is expected to quickly recover in 2021.

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As per GMR industry analyst Vidya Jadhav, “strong R&D expenditure for the new product launches backed by attractive packaging and new flavors can create a lucrative opportunity for new and existing players offering spirit-based RTD mixes in the coming years.”

Key Takeaways from the Study:

  • The Asia Pacific region is expected to be the most lucrative region for the global spirit-based RTD Mixes market. The adoption of spirit-based RTD Mixes in this region is high as compared to other regions due to the presence of a high young population, increasing production of spirit-based RTD, and easy availability of raw materials.
  • The dark spirit-based RTD Mixes segment accounted for the highest share in the market in terms of revenue generation in the year 2018 and a similar trend is expected to continue over the forecast period.
  •  The Supermarkets and Hypermarkets segment is anticipated to grow with a substantial CAGR during the forecast period as it is the most preferred channel for buying these drinks.

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Report Scope:

Report Metric

Details

Market Value in 2019

USD 10,835.0 Million

Market Growth Rate (from 2021 to 2027)

8.3%

Historical Data

2017 & 2018

Base Year

2019

Forecast Period

2020 – 2027

Units Considered

Value (USD Million) and Volume (Liters)

Market Segments

Product Types and Distribution Channels.

Regional Scope

North America, Europe, Latin America, Asia Pacific, Middle East & Africa (MEA)

Country Scope

U.S., Canada, Brazil, Mexico, Rest of Latin America, China, Japan, South Korea, India, Australia, Southeast Asia, Rest of Asia Pacific, Germany, France, Italy, U.K., Spain, Russia, Rest of Europe, Saudi Arabia, South Africa, UAE, and Rest of MEA.

Key Companies Profiled

Bacardi Limited, Beam Suntory, Diageo, Gruppo Campari, Pernod Ricard, Asahi Breweries, Beverage Brands (SHS), Distell, Halewood International, LA Martiniquaise, and Mark Anthony Group

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience:

  • Supply-side: spirit-based RTD mixes manufacturers, Dark Spirit-Based RTD Mixes, Light Spirit-Based RTD Mixes, raw material suppliers, primary respondents, and distributors.
  • Demand Side: Supermarkets and Hypermarkets, On-Trade, Specialist Retailers, Convenience Stores, distributors, retail stores, online retailers, and others.
  • Regulatory Side: Concerned government authorities, commercial research & development (R&D) institutions, and other regulatory bodies.
  • Associations and Industry Bodies: Food Products Association (FPA), Food & Agricultural Organization of the United Nations, International Association for Food Protection, International Commission on Micro Specifications for Food, Testing, Inspection & Certification Council, International Food & Beverage Association (IFBA)

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