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Technavio’s market research analysts predict the global spirit-based RTD mixes market to grow steadily during the forecast period and post a CAGR of more than 7% by 2021. This industry research report identifies the introduction of new flavors in RTD drinks to be one of the major factors that will have a positive impact on the growth of this market in the coming years. To cater to the changing demands of the consumers, players in the market are introducing new and innovative flavors which will also help them gain a competitive edge over other players. For instance, Kenya Breweries recently launched a new RTD alcoholic beverage under the Smirnoff brand that is flavored with ginseng. Similarly, R&D company Comax Flavors has also developed a new flavor, pineberry, for alcoholic beverages which is expected to become a mainstream flavor choice for consumers during the forecast period.
This market research and analysis estimates that in terms of geographical regions, APAC will be the major revenue contributor to the market throughout the predicted period. The constant demand for spirit-based ready to drink alcohol mixes is several countries in the region, especially India, China, and Japan, will be a major factor fueling market growth. Additionally, increased marketing investments from vendors towards promoting their products and enhancing their distribution capabilities will also drive the growth of the market in this region.
Characterized by the presence of numerous small and large vendors, the market appears to be highly fragmented. Since all alcohol beverage manufacturers compete to gain significant market shares, the market’s competitive environment is intense. Product pricing, quality, innovation, reputation, and distribution are some of the major factors the vendors usually compete on. The increasing competition among manufacturers will compel companies to reduce their product prices, which will negatively affect their profit margins. To survive and succeed in this competitive environment, the vendors have the need to distinguish their product and service offerings through a clear and unique value proposition.
Some of the leading vendors in the market are -
The other prominent vendors in the market are Asahi Breweries, Beverage Brands, Distell, Halewood International, LA Martiniquaise, Mark Anthony Group, and Radico Khaitan.
During 2016, the dark spirit-based RTD mixes segment accounted for the major shares and dominated the market. These mixes contain dark rum, Scotch, and, Bourbon whiskey as the base. The increase in off-trade consumption of dark spirit-based RTD mixes will contribute significantly to the growth of the market. It has been observed that the demand for dark spirit-based RTD mixes is higher during winter. As a result, the anticipation of a much colder winter in countries in the APAC during the forecast period, will also significantly boost the market’s growth prospects in this segment.
According to this market research and analysis, the supermarkets and hypermarkets segment dominated the spirit-based RTD mixes market during 2016. Due to the rising popularity of pub culture and the increased indulgence in alcohol, the on-trade segment that includes restaurants, pubs, bars, and hotels also accounted for a considerable share of the overall market.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by product
PART 07: Market segmentation by distribution channel
PART 08: Geographical segmentation
PART 09: Key leading countries
PART 10: Market drivers
PART 11: Impact of drivers
PART 12: Market challenges
PART 13: Impact of drivers and challenges
PART 14: Market trends
PART 15: Vendor landscape
PART 16: Appendix
PART 17: Explore Technavio
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