Middle East & Africa RTD Cocktails Market Forecast to 2030
Middle East & Africa RTD Cocktails Market Forecast to 2030 – Regional Analysis – by Base Type (Malt-Based, Tequila-Based, Vodka-Based, Whiskey-Based, and Others), Packaging Type (Bottles, Cans, and Others), and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others)
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Description
Influence of Social Media and Celebrities Fuel the Middle East & Africa RTD Cocktails Market
Social media is playing a crucial role in changing the lifestyles of people. Over the past few years, the number of social media users has increased dramatically, owing to the rising penetration of the internet and smartphones. Thus, major global manufacturers are showcasing their products on social media platforms to generate more revenue. For instance, Diageo plc, one of the prominent RTD cocktail manufacturers, stepped up its multi-million-dollar partnership with Facebook to market its products. Moreover, people are heavily influenced by social media influencers and celebrities and try to follow them. Brands benefit from the growing influence of social media and celebrities on people. Celebrities heavily promote RTD cocktails and are also getting involved in the businesses. For instance, Thomas Ashbourne Craft Spirits is the latest company to work with celebrities in order to build a brand image. Celebrities such as Sarah Jessica Parker and John Cena have partnered in founding the spirit company. They launched classic RTD canned cocktails, including “The Perfect Cosmo” and “The Classic Old Fashioned.” Moreover, many celebrities, including Justin Timberlake, Kendall Jenner, and Pitbull, own spirit companies. These celebrities have a large fan base across the globe, and these fans are influenced by celebrity lifestyle, which increases the product sale marketed or founded by them. Thus, the increasing influence of social media and celebrities on RTD cocktails is expected to bring new trends to the RTD cocktails market in the coming years.
Middle East & Africa RTD Cocktails Market Overview
The Middle East & Africa is experiencing significant growth in the RTD cocktails market owing to the growing young population and increasing social media influence on them. According to the Organization for Economic Co-operation and Development (OECD), in 2021, young people under the age of 30 contributed to more than 55% of the population across the Middle East & North Africa. The young population in the region is increasingly influenced by social media and global trends. With their visually appealing and eco-friendly packaging, RTD cocktails have gained popularity among this demographic. The region consists of countries such as the UAE and Saudi Arabia with different cultural and religious beliefs, some of which restrict or discourage the consumption of alcoholic beverages. These factors may limit the RTD cocktails market growth. In some countries of the Middle East & Africa, the RTD cocktails market is in its early stages owing to the less awareness of the RTD cocktails concept; hence, it offers lucrative opportunities to the RTD industry players to explore untapped markets for RTD cocktails. The growth of the middle-class population across the region, coupled with the increase in disposable income, has contributed to a shift in a consumer’s preference toward premium and indulgent alcoholic beverages such as premium RTD cocktails. Also, sustainability has become a significant trend in the region across various industries, including RTD cocktails. Consumers in the region are showing an increasing preference for environment-friendly packaging options. Hence, RTD cocktail manufacturers are adopting sustainable packaging materials and practices to align with this trend. All these factors collectively contribute to the RTD cocktails market growth in the Middle East & Africa.
Middle East & Africa RTD Cocktails Market Revenue and Forecast to 2030 (US$ Million)
Middle East & Africa RTD Cocktails Market Segmentation
The Middle East & Africa RTD cocktails market is segmented based on base type, packaging type, distribution channel, and country.
Based on base type, the Middle East & Africa RTD cocktails market is segmented into malt-based, tequila-based, vodka-based, whiskey-based, and others. The malt-based segment held the largest market share in 2022.
Based on packaging type, the Middle East & Africa RTD cocktails market is segmented into bottles, cans, and others. The cans segment held the largest market share in 2022.
Based on distribution channel, the Middle East & Africa RTD cocktails market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. The specialty stores segment held the largest market share in 2022.
Based on country, the Middle East & Africa RTD cocktails market is segmented into South Africa, the UAE, and the Rest of Middle East & Africa. The Rest of Middle East & Africa dominated the Middle East & Africa RTD cocktails market share in 2022.
Bacardi Limited, Beam Suntory Inc, The Coca-Cola Company, and Pernod Ricard SA are some of the leading players operating in the Middle East & Africa RTD cocktails market.
Summary Info
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According to The Research Team’ 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.
o Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Middle East & Africa RTD cocktails market.
o Highlights key business priorities in order to assist companies to realign their business strategies
o The key findings and recommendations highlight crucial progressive industry trends in the Middle East & Africa RTD cocktails market, thereby allowing players across the value chain to develop effective long-term strategies
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
o Scrutinize in-depth Middle East & Africa market trends and outlook coupled with the factors driving the Middle East & Africa RTD cocktails market, as well as those hindering it
o Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution
TABLE OF CONTENTS
1. Introduction
1.1 The Research Team Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Middle East & Africa RTD Cocktails Market Landscape
4.1 Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
4.3.1 Raw Material Suppliers
4.3.2 Manufacturers
4.3.3 Distribution Channel:
5. Middle East & Africa RTD Cocktails Market – Key Industry Dynamics
5.1 Market Drivers
5.1.1 Strong Preference for RTD Alcoholic Beverages Among Consumers
5.1.2 Strategic Development Initiatives by Manufacturers
5.2 Market Restraints
5.2.1 Complex and Diverse Regulations
5.3 Market Opportunities
5.3.1 Consumer Inclination Towards Innovative Flavors
5.4 Future Trends
5.4.1 Influence of social media and Celebrities
5.5 Impact of Drivers and Restraints:
6. RTD Cocktails Market – Middle East & Africa Market Analysis
6.1 RTD Cocktails Market Revenue (US$ Million), 2020 – 2030
6.2 Middle East & Africa RTD Cocktails Market Forecast and Analysis
7. Middle East & Africa RTD Cocktails Market Analysis – Base Type
7.1 Malt Based
7.1.1 Overview
7.1.2 Malt Based Market Volume, Revenue and Forecast to 2030 (US$ Million)
7.2 Tequila Based
7.2.1 Overview
7.2.2 Tequila Based Market Volume, Revenue and Forecast to 2030 (US$ Million)
7.3 Vodka Based
7.3.1 Overview
7.3.2 Vodka Based Market Volume, Revenue and Forecast to 2030 (US$ Million)
7.4 Whiskey Based
7.4.1 Overview
7.4.2 Whiskey Based Market Volume, Revenue and Forecast to 2030 (US$ Million)
7.5 Others
7.5.1 Overview
7.5.2 Others Market Volume, Revenue and Forecast to 2030 (US$ Million)
8. Middle East & Africa RTD Cocktails Market Analysis – Packaging Type
8.1 Bottles
8.1.1 Overview
8.1.2 Bottles Market Value, Revenue and Forecast to 2030 (US$ Million)
8.2 Cans
8.2.1 Overview
8.2.2 Cans Market Value, Revenue and Forecast to 2030 (US$ Million)
8.3 Others
8.3.1 Overview
8.3.2 Others Market Value, Revenue and Forecast to 2030 (US$ Million)
9. Middle East & Africa RTD Cocktails Market Analysis – Distribution Channel
9.1 Supermarkets & Hypermarkets
9.1.1 Overview
9.1.2 Supermarkets & Hypermarkets Market Value, Revenue, and Forecast to 2030 (US$ Million)
9.2 Specialty Stores
9.2.1 Overview
9.2.2 Specialty Stores Market Value, Revenue, and Forecast to 2030 (US$ Million)
9.3 Online Retail
9.3.1 Overview
9.3.2 Online Retail Market Value, Revenue, and Forecast to 2030 (US$ Million)
9.4 Others
9.4.1 Overview
9.4.2 Others Market Value, Revenue, and Forecast to 2030 (US$ Million)
10. Middle East & Africa RTD Cocktails Market – Country Analysis
10.1 Middle East & Africa
10.1.1 Middle East & Africa RTD Cocktails Market Overview
10.1.2 Middle East & Africa RTD Cocktails Market Revenue and Forecasts and Analysis – By Countries
10.1.2.1 RTD Cocktails Market Breakdown by Country
10.1.2.2 South Africa RTD Cocktails Market Revenue and Forecasts to 2030 (US$ Million)
10.1.2.2.1 South Africa RTD Cocktails Market Breakdown by Base Type
10.1.2.2.2 South Africa RTD Cocktails Market Breakdown by Packaging Type
10.1.2.2.3 South Africa RTD Cocktails Market Breakdown by Distribution Channel
10.1.2.3 UAE RTD Cocktails Market Revenue and Forecasts to 2030 (US$ Million)
10.1.2.3.1 UAE RTD Cocktails Market Breakdown by Base Type
10.1.2.3.2 UAE RTD Cocktails Market Breakdown by Packaging Type
10.1.2.3.3 UAE RTD Cocktails Market Breakdown by Distribution Channel
10.1.2.4 Rest of Middle East & Africa RTD Cocktails Market Revenue and Forecasts to 2030 (US$ Million)
10.1.2.4.1 Rest of Middle East & Africa RTD Cocktails Market Breakdown by Base Type
10.1.2.4.2 Rest of Middle East & Africa RTD Cocktails Market Breakdown by Packaging Type
10.1.2.4.3 Rest of Middle East & Africa RTD Cocktails Market Breakdown by Distribution Channel
11. Competitive Landscape
11.1 Heat Map Analysis by Key Players
12. RTD Cocktails Market Industry Landscape
12.1 Overview
12.2 Merger and Acquisitions
12.3 Expansion
12.4 Product Launch
13. Company Profiles
13.1 Bacardi Limited
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Beam Suntory Inc
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 The Coca-Cola Co
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Pernod Ricard SA
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
14. Appendix
LIST OF TABLES
Table 1. Middle East & Africa RTD Cocktails Market Segmentation
Table 2. Middle East & Africa RTD Cocktails Market Revenue and Forecasts To 2030 (US$ Million)
Table 3. South Africa RTD Cocktails Market Revenue and Forecasts To 2030 (US$ Million) – By Base Type
Table 4. South Africa RTD Cocktails Market Revenue and Forecasts To 2030 (US$ Million) – By Packaging Type
Table 5. South Africa RTD Cocktails Market Revenue and Forecasts To 2030 (US$ Million) – By Distribution Channel
Table 6. UAE RTD Cocktails Market Revenue and Forecasts To 2030 (US$ Million) – By Base Type
Table 7. UAE RTD Cocktails Market Revenue and Forecasts To 2030 (US$ Million) – By Packaging Type
Table 8. UAE RTD Cocktails Market Revenue and Forecasts To 2030 (US$ Million) – By Distribution Channel
Table 9. Rest of Middle East & Africa RTD Cocktails Market Revenue and Forecasts To 2030 (US$ Million) – By Base Type
Table 10. Rest of Middle East & Africa RTD Cocktails Market Revenue and Forecasts To 2030 (US$ Million) – By Packaging Type
Table 11. Rest of Middle East & Africa RTD Cocktails Market Revenue and Forecasts To 2030 (US$ Million) – By Distribution Channel
Table 12. Company Positioning & Concentration
LIST OF FIGURES
Figure 1. Middle East & Africa RTD Cocktails Market Segmentation, By Country
Figure 2. Porter’s Five Forces Analysis
Figure 3. Ecosystem: Middle East & Africa RTD Cocktails Market
Figure 4. Middle East & Africa RTD Cocktails Market – Key Industry Dynamics
Figure 5. Impact Analysis of Drivers and Restraints
Figure 6. Middle East & Africa RTD Cocktails Market Revenue (US$ Million), 2020 – 2030
Figure 7. Middle East & Africa RTD Cocktails Market Share (%) – Base Type, 2022 and 2030
Figure 8. Malt Based Market Revenue and Forecasts To 2030 (US$ Million)
Figure 9. Tequila Based Market Revenue and Forecasts To 2030 (US$ Million)
Figure 10. Vodka Based Market Revenue and Forecasts To 2030 (US$ Million)
Figure 11. Whiskey Based Market Revenue and Forecasts To 2030 (US$ Million)
Figure 12. Others Market Revenue and Forecasts To 2030 (US$ Million)
Figure 13. Middle East & Africa RTD Cocktails Market Share (%) – Packaging Type, 2022 and 2030
Figure 14. Bottles Market Revenue and Forecasts To 2030 (US$ Million)
Figure 15. Cans Market Revenue and Forecasts To 2030 (US$ Million)
Figure 16. Others Based Market Revenue and Forecasts To 2030 (US$ Million)
Figure 17. Middle East & Africa RTD Cocktails Market Share (%) – Distribution Channel, 2022 and 2030
Figure 18. Supermarkets & Hypermarkets Market Revenue and Forecasts To 2030 (US$ Million)
Figure 19. Specialty Stores Market Revenue and Forecasts To 2030 (US$ Million)
Figure 20. Online Retail Market Revenue and Forecasts To 2030 (US$ Million)
Figure 21. Others Market Revenue and Forecasts To 2030 (US$ Million)
Figure 22. Middle East & Africa RTD Cocktails Market, by Key Countries – Revenue (2022) (US$ Million)
Figure 23. RTD Cocktails Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 24. South Africa RTD Cocktails Market Revenue and Forecasts To 2030 (US$ Million)
Figure 25. UAE RTD Cocktails Market Revenue and Forecasts To 2030 (US$ Million)
Figure 26. Rest of Middle East & Africa RTD Cocktails Market Revenue and Forecasts To 2030 (US$ Million)
The List of Companies – Middle East & Africa RTD Cocktails Market
o Bacardi Limited
o Beam Suntory Inc,
o The Coca-Cola Company
o Pernod Ricard SA
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