Introduction of new flavors and improved form of product packaging is projected to escalate the RTD alcoholic beverage market at a CAGR of 5.4%
Latest market study on "North America RTD Alcoholic Beverage Market to 2027 – Analysis and Forecasts By Base Type (Whiskey, Rum, Vodka, Gin, and Others); Packaging Type (Bottles, Cans, and Others); Distribution Channel (Supermarkets and Hypermarkets, Specialty Store, and Others)". The North America RTD alcoholic beverage market is accounted to US$ 5,883.8 Mn in 2018 in 2018 and is expected to grow at a CAGR of 5.4% during the forecast period 2019 - 2027, to account to US$ 9,402.3 Mn by 2027. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
Under the packaging type segment, the bottles segment accounted for the largest share in the North America RTD alcoholic beverage market. Innovative bottle packaging has been one of the primary reasons that have been driving the growth of RTD alcoholic beverages across North America. Different types of bottle packaging are available in the market that creates an attractive appearance for the RTD alcoholic beverages. The three types of bottle packaging available are standard, premium, and super-premium. The standard bottle packaging is widely used for the RTD alcoholic packaging due to its low pricing and easy availability. Increasing standards of living and easy availability of glass has led to an upsurge in the bottle's packaging for the RTD alcoholic beverages market in North America.
Packaging plays a critical role in the rising demand for the RTD alcoholic beverage product. The packaging is a vital part of the marketing plan for the sale of RTD alcoholic beverage business. The product package is a selling point for many consumers by delivering a sense of quality while also reflecting the products brand image. Furthermore, it plays a crucial role in retail sales, where the right packaging design can attract the consumer's eye and make the product stand out next from a rack of the competitor's product — packaging helps to attract maximum customers towards the products and earn higher profits. Therefore, innovative and convenient packaging of the RTD Beverage products offers a vast market opportunity for the key players operating in the market.
The market for North America RTD alcoholic beverage is concentrated with some very well-established players. Some of the key players in the North America RTD alcoholic beverage market include Anheuser Busch Inbev NV, Asahi Group Holdings, Ltd, The Boston Beer Company, Inc, Bacardi Limited, Carlsberg Breweries A/S, Diageo plc, Halewood Wines & Spirits, Heineken N.V, Mike's Hard Lemonade Co, and Pernod Ricard among others.
North America RTD Alcoholic Beverage Market - By Country Breakdown, 2018