U.S. and Colorado RTD Cocktail Market

U.S. and Colorado RTD Cocktail Market

U.S. and Colorado RTD Cocktail Market to Reach US$ 4.6 Bn by 2032, driven by the increase in the number of military attacks in the province: Global Insight Services

New York, May 2023: According to a new research study by Global Insight Services (GIS), the global U.S. and Colorado RTD Cocktail market is expected to grow rapidly over the next 10 years to reach a value of more than the US $ 4.6 Billion by 2032.

A RTD cocktail is a pre-mixed alcoholic beverage that is typically sold in a can or bottle. RTD cocktails are convenient because they require no additional mixing or preparation, making them ideal for parties or other events where alcohol will be served. There are a variety of RTD cocktails available, including popular options such as Moscow Mules, Margaritas, and Bloody Marys. RTD cocktails are typically made with lower-quality alcohol, so they are not as strong as cocktails made from scratch. However, RTD cocktails can still be potent, so it is important to drink them responsibly.

They are a practical choice that enables customers to take advantage of pre-made drinks at home or when traveling. These beverages often contain less alcohol. Cocktails that are ready to drink are flavor-infused, carbonated alcoholic beverages with lower fat and sugar content than other alcoholic beverages. RTD cocktails provide customers a handy option to enjoy their preferred alcoholic beverages without going to a restaurant or bar as busy lifestyles increasingly trend towards decadent experiences at home.

Request Sample Pages of this Research Report:

https://www.globalinsightservices.com/request-sample/GIS24658

U.S. and Colorado RTD Cocktail Market: Key Trends and Drivers

Surging RTD Cocktails Consumption owing to the Busy Lifestyles and Hectic Work Schedules

An increasing number of young people are today falling with stress due to busy working & hectic work schedule or mismanaged lifestyle. The current lifestyle of the young generation is a wake-up call for major health-related issues. Hypertension is one such disease that is a significant concern in society today.

Furthermore, the work schedules of Colorado employees could be more stable and predictable. For instance, according to the article published by The Shift Project, the majority of Colorado employees report having irregular or unusual work schedules. Another 20% claim working night or evening shifts routinely, another 30% report varying schedules, and 20% report rotating schedules. Just 25% of employees in the service industry report having a regular daytime work schedule. These metrics demonstrate that many Colorado service industry employees deal with erratic and irregular work patterns. Moreover, we discover that these workers frequently lack control over their schedules. Just 16% of employees have significant influence over the days and hours they are scheduled to work, compared to 30% who have some involvement. Almost half of all employees have no say in determining their work schedules.

U.S. and Colorado RTD Cocktail Market: Restraints & Challenges

As the market in the US and Colorado has developed, more manufacturers have started to enter it. Yet, those who are unable to keep up with the competition and satisfy the needs of the local market will surely fail. Companies should go through an analysis of the market size, growth prospects, competition in their target price range and for the product type, and receive professional guidance regarding strengths and weaknesses to understand better the competition that currently exists and the overall potential for their product in the market for alcoholic RTDs.

The American alcohol market is distinct and intricate. Nonetheless, many businesses attempt to do so without having any idea of the markets, target audiences, or partners they should be collaborating with to sell their products. The secret to success is understanding your organization’s target market for RTDs and premixes, the ideal client profile, and the kind of sales partner that best suits your requirements. Do a target market analysis to determine the best local markets for businesses to target (such as Colorado), learn the specific characteristics of their potential customers (such as purchasing patterns), and seek advice on the kind of distributor to partner with.

Therefore, evaluating the competition and geographic & demographic targeting is a more significant challenge for every RTD cocktail manufacturer present in US and Colorado.

U.S. and Colorado RTD Cocktail Market Report Findings

https://www.globalinsightservices.com/reports/u-s-and-colorado-rtd-cocktail-market/

The spirit-based segment segment is likely to hold a dominant U.S. and Colorado RTD Cocktail market share and grow at a substantial CAGR during the forecast period.

On the basis of type, it is segmented into wine-based, spirit-based, and malt-based. The spirit-based segment accounted for the largest revenue in the market. It was valued at USD 642.4 million in 2022 and it is anticipated to grow further to 2,923.7 million by 2032, at a CAGR of 15.5% during the study period.

Most customers favor RTD cocktails with a foundation of spirits—gin, tequila, rum, and whisky—driving the segment’s rise. More product launches by the leading manufacturer in this category are projected to drive growth in the coming years. For example, Wood’s High Mountain Distillery, a Colorado-based firm, debuted three new RTD drinks in 12-ounce aluminum cans with ABV ranging from 8% to 11% in November 2021. Organic Assam, orange pekoe tea, cardamom, lemon peel, and grapefruit are among the components in the beverages. On the other hand, consumer demand for vibrant tastes and luxury products is anticipated to enhance the consumption of RTD cocktails using whisky as a foundation.

The bottles segment is anticipated to hold a majority of the U.S. and Colorado RTD Cocktail market size throughout the study period.

On the basis of packaging, the U.S. and Colorado RTD cocktail market is bifurcated into cans, bottles. The bottles segment is anticipated to account for the largest market share in 2022, and cans segment is expected to be the fastest-growing segment during the forecast period.

The idea of ready-to-drink cocktails was first introduced in a bottle package style and quickly gained popularity worldwide. Glass bottles were used for packaging since the product closely resembled beer. Also, the development of glass bottles results from the need for more aluminum in nations like the U.S. Due to these market dynamics, the demand for glass bottles rose across the U.S. Several customers seek high-end portable drinks with stylish packaging that complement their taste. Manufacturers attempt to provide items in this packaging because customers prefer cans to bottles.

The hypermarkets/supermarkets segment is anticipated to hold a majority of the U.S. and Colorado RTD Cocktail market size throughout the study period.

Based on distribution channel, the U.S. and Colorado RTD cocktail market is segmented into hypermarkets/supermarkets, online, and liquor stores. The hypermarkets/supermarkets segment is anticipated to account for 65.07% market share in 2022, and online segment is expected to be the fastest-growing segment during the forecast period.

In 2022, supermarkets and hypermarkets accounted for the largest revenue share. RTD beverages are frequently available through these channels since they contain less alcohol. Also, the majority of businesses in this industry sell their goods via merchants like Walmart owing to their extensive customer reach. Additionally, supermarkets are launching their own private-label brands more often in response to consumer demand. Moreover, supermarkets and hypermarkets sometimes have extended hours, which makes it simpler for people to buy alcohol. Last but not least, a large parking lot is a common feature of hypermarkets, making it easier for consumers to find a parking space.

The US region is estimated to exhibit the highest growth rate during the U.S. and Colorado RTD Cocktail market forecast period.

The market is analyzed across Colorado and Rest of the U.S. The US market was valued at USD 1,224.0 million in 2022 and it is expected to grow further to USD 4,633.3 million by 2032, at a CAGR of 13.5% during the forecast period. Making Ready-To-Drink (RTD) or bottled drinks helped established businesses introduce hard seltzer. Substantial quarterly profits from similar sources have highlighted the numerous market prospects RTD has in the US. RTDs’ ease and variety have become standard among American consumers, and as a result, more and more individuals are upgrading to spirit-based cocktails. This reflects the general premiumization tendency for spirits in the United States and the growing appeal of bar-made cocktails.

Alcohol use has no proven health advantages, and during the previous two years, consumer behavior has mirrored this finding: In 2021, 60% of American people polled said they used alcoholic beverages—a 5% decrease from 2019, according to the article published in the AlphaSense platform in October 2022. Furthermore, 22% of consumers plan to consume less alcohol in 2021 for reasons related to their health and well-being, according to the article published in the AlphaSense platform in October 2022. People choose non-alcoholic sodas, sparkling waters, and energy drinks that support cognitive and digestive health advantages as wellness becomes a higher priority in their lifestyle decisions.

Have a question for our analyst:

https://www.globalinsightservices.com/inquiry-before-buying/GIS24658

Competitive Landscape

The U.S. and Colorado RTD cocktail market is moderately consolidated with the presence of a few players. Key companies profiled in the report are Abbott & Wallace Distilling Company, Backyard Bev Co, Curation Beverage Company LLC, Fenceline, GOLDEN MOON DISTILLERY, Hooch Booch, Lee Spirits Company, LIFTED LIBATIONS, Strongwater, and Wood’s High Mountain Distillery, LLC, among others.

Recent Developments in the U.S. and Colorado RTD Cocktail Market:

  • In November 2022, Abbott and Wallace Distilling launches new pub at 350 Terry Street. The reimagined location now includes food from an on-site kitchen to compliment the craft cocktails, craft beer and wine traditionally served there.
  • In July 2022, Holidaily Brewing Company and Golden Moon Distillery collaborated to create a whisky based on Holidaily Brewing Company’s licensed gluten-free beer. The concept inspired Golden Moon Distillery’s Collaboration series, which uses local beer to create a range of flavored whiskies. Golden Moon Collaboration #1 Holidaily Blonde – Colorado Hopped Whisky, brewed with Holidaily Brewing Company’s flagship beer, Favorite Blonde Ale, will kick off the series.
  • In April 2022, Hooch Booch opened new store in Minnesota.
  • In May 2021, Fenceline Cider has announced a new partnership with Culture Beverage, a front range beverage wholesaler. Fenceline Ciders will be accessible from Colorado Springs to Fort Collins as part of this new collaboration, and Fenceline will be Culture Beverage’s exclusive Colorado Cider brand.
U.S. and Colorado RTD Cocktail Market Report Coverage
  • The report offers a comprehensive quantitative as well as qualitative analysis of the current U.S. and Colorado RTD Cocktail Market outlook and estimations from 2022 to 2032, which helps to recognize the prevalent opportunities.
  • The report also covers qualitative as well as quantitative analysis of the U.S. and Colorado RTD Cocktail Market in terms of value (USD Million).
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the U.S. and Colorado RTD Cocktail Market
  • A thorough analysis of market trends and restraints is provided.
  • Analytical depiction of the U.S. and Colorado RTD Cocktail Market along with the current trends and future estimations to depict imminent investment pockets.
  • The overall U.S. and Colorado RTD Cocktail Market opportunity is examined by understanding profitable trends to gain a stronger foothold.
  • Porter’s five forces analysis, pricing analysis, SWOT analysis, COVID-19 impact analysis, Russia-Ukraine war impact, Case Studies, and PESTLE analysis of the U.S. and Colorado RTD Cocktail Market are also analyzed.

.S. and Colorado RTD Cocktail Market Segmentation

By Type

  • Wine-based
  • Spirit-based
  • Malt-based

By Packaging

  • Cans
  • Bottles

By Distribution Channel

  • Hypermarkets/Supermarkets
  • Online
  • Liquor Stores

By Region

    • The U.S.
    • Colorado

Key Players

  • Strongwater
  • GOLDEN MOON DISTILLERY
  • Fenceline
  • Curation Beverage Company LLC
  • Hooch Booch
  • Abbott & Wallace Distilling Company
  • Backyard Bev Co
  • Wood’s High Mountain Distillery, LLC
  • Lee Spirits Company
  • LIFTED LIBATIONS