highlights
Rum-based beverages occupy the largest RTD market.
Next come vodka-based and gin-based beverages.
RTDs contain 5-8% alcohol and are ideal for house parties.
drink There are constant changes in the preferences of people who are fond of it. Besides, a new class of youth has also emerged, who want to try something new. RTD (Ready-to-Drink) is a great option for such people. India is growing rapidly in this market due to the increasing interest in RTD (Ready-to-Drink) i.e. pre-mixed cocktails and mocktails. These are low alcohol beverages. In fact, during the COVID-19 global pandemic, the popularity of RTD cocktails increased. Most people tried cocktails at home because they could not go to bars or restaurants. However, during the pandemic, the trend of RTD cocktails has also increased significantly in Europe and the United States.
New trend visible in India
A similar trend is being seen in India also. The desire to try RTDs has expanded the possibilities for how alcoholic beverages are typically packaged to make them more attractive. Bottles, cans and tetrapaks are becoming increasingly popular as containers for RTD beverages. The popularity of RTD reflects its necessity. RTD has a two-way street going forward. Firstly, the youth between the age of 23 to 35 years who are willing to try new things. This is why the global RTD cocktail market is projected to grow at a rate of 15.1% from 2024 to 2028.
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Rum-based beverages at the forefront
Rum-based beverages occupy the largest RTD market in terms of consumption. Next come vodka-based and gin-based beverages. As popular RTDs in India and other developing countries, cocktail companies are providing new products and exciting flavored drinks, meaning consumers now have more choices. But it is also worth noting that brands are most important. Consumers give priority to taste regardless of price. Bacardi has emerged as the most popular brand in this category in terms of consumption. After this there are Magic Moments Electra and Bombay Sapphire Gin and Tonic.
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5-8% alcohol in RTD cocktails
Many people choose convenient beverages over traditional beverages. Millennials and Gen Z are looking for drinks to enjoy and socialize with. That’s why they prefer RTD instead of heavy alcohol. RTD cocktails contain 5-8% alcohol and are ideal for social gatherings and house parties. Beyond traditional alcoholic beverages the RTD cocktail market is ready to offer new products, new products and new flavors. The Indian consumer today is ready to experiment and move beyond traditional alcoholic beverages.
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FIRST PUBLISHED: February 7, 2024, 16:31 IST