At 13.9% CAGR, the Middle East & Africa RTD Cocktails Market is Projected to be worth US$ 2,047.59 million by 2030, says Business Market Insights

According to Business Market Insights’ research, the Middle East & Africa RTD cocktails market was valued at US$ 725.15 million in 2022 and is expected to reach US$ 2,047.59 million by 2030, registering a CAGR of 13.9% from 2022 to 2030. Strong preference for RTD alcoholic beverages among consumers and strategic development initiatives by manufacturers are among the critical factors attributed to the Middle East & Africa RTD cocktails market expansion.             

The consumption of high-quality RTD cocktails is increasing worldwide, which is currently one of the biggest trends in the alcoholic beverage industry. The convenience offered by RTD alcoholic beverages, such as RTD cocktails, allows consumers to save time and effort associated with ingredient shopping, mixing, and preparing drinks. Due to hectic work schedules, consumers prefer to be efficient with their time rather than spending it on tedious tasks. Thus, they are more likely to spend their money on convenience, which dives into the popularity of RTD beverages such as cocktails and hard seltzers. Moreover, the consumers worldwide gravitated toward RTDs as a convenient way to enjoy their favorite cocktail at home during the pandemic. Adult consumers strongly want greater access to spirit-based RTDs in the marketplace, including at restaurants and bars, grocery and convenience stores, and entertainment venues such as concerts and sporting events. Thus, a surging preference for RTD alcoholic beverages among consumers is driving the RTD cocktail market across the Middle East & Africa. RTD cocktails featuring whiskey, vodka, gin, rum, and tequila have gained popularity in recent years. These beverages used as a base beverage in RTD cocktails, are catered to consumer’s requirement who appreciate rich, complex flavors of these spirits and enjoy classic cocktails like ‘Old Fashioned’. Consumers who enjoy the distinct taste and agave notes of tequila increasingly prefer tequila based RTD cocktails. Rum-based RTD cocktails, such as margaritas or pina coladas, have a tropical appeal and are often associated with summer and beach settings. Vodka-based RTD cocktails are quite popular due to vodka’s versatility and neutral flavor profile. Gin-based RTD cocktails, particularly those with classic flavors like gin martinis, are favored by consumers who enjoy the distinct botanical notes and refreshing qualities of gin. Hence, the availability of a wide variety of base ingredients in the global marketplace and diverse consumer preferences for RTD cocktails are fueling the RTD cocktails market growth across the Middle East & Africa.

On the contrary, complex and diverse regulations hurdles the growth of Middle East & Africa RTD cocktails market. 

Based on base type, the Middle East & Africa RTD cocktails market is categorized into malt-based, tequila-based, vodka-based, whiskey-based, and others. The malt-based segment held 80.1% market share in 2022, amassing US$ 580.55 million. It is projected to garner US$ 1,650.97 million by 2030 to expand at 14.0% CAGR during 2022–2030.

Based on packaging type, the Middle East & Africa RTD cocktails market is categorized into bottles, cans, and others. The cans segment held 77.5% share of Middle East & Africa RTD cocktails market in 2022, amassing US$ 561.95 million. It is projected to garner US$ 1,622.19 million by 2030 to expand at 14.2% CAGR during 2022–2030.

Based on distribution channel, the Middle East & Africa RTD cocktails market is categorized into supermarkets and hypermarkets, specialty stores, online retail, and others. The specialty stores segment held 47.5% share of Middle East & Africa RTD cocktails market in 2022, amassing US$ 344.12 million. It is projected to garner US$ 967.95 million by 2030 to expand at 13.8% CAGR during 2022–2030.

Based on country, the Middle East & Africa RTD cocktails market has been categorized into South Africa, the UAE, and the Rest of Middle East & Africa.  Our regional analysis states that the Rest of Middle East & Africa captured 66.4% share of Middle East & Africa RTD cocktails market in 2022. It was assessed at US$ 481.77 million in 2022 and is likely to hit US$ 1,530.31 million by 2030, exhibiting a CAGR of 15.5% during 2022–2030.            

Key players operating in the Middle East & Africa RTD cocktails market are Bacardi Limited, Beam Suntory Inc, The Coca-Cola Company, and Pernod Ricard SA, among others.

• In Oct 2023, The Coca-Cola Company and Pernod Ricard Announce Plans to Debut Absolut Vodka & Sprite Ready-To-Drink Cocktail.
• In Mar 2022, Beam Suntory’s Sauza launched RTD agave cocktails.

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