Malt-based RTD High Strength Premixes Demand to top US$ 6 Mn by 2031: Fact.MR Report
Published : 29 Jul 2021 Industry: Food & Beverage
According to Fact.MR, the market for high strength premixes is poised to register over 5% CAGR across the 2021-2031 forecast period. A variety of businesses, including wholesalers, producers, and distributors, as well as cafes, bars, and hotels, are involved in the alcoholic beverage industry. This is augmenting demand for premixed drinks, thus providing traction to high strength premixes.
Historically, between 2016 and 2020, sales of high strength premixes surged at under 5% CAGR. As the COVID-19 pandemic unfurled, consumers gradually made a transition towards consuming healthier beverages, which boded well for high strength premixes sales.
Several premixed alcoholic and soft drinks, often fruit-flavored and spirit-based, as well as pre-mixed cocktails are being sold in the market. It is similar to the cans and bottles of soft drinks that promote the grab-and-go culture, which encourages consumers to consume flavored, low alcohol premix beverages. Younger generations are showing a high degree of interest in trendy cocktail menus, which presents a great opportunity for business growth.
Key Takeaways from High Strength Premixes Market Study
- Malt-based RTD high strength premixes to reach a value of US$ 6 Mn by 2031
- Wine-based & spirit-based RTD high strength premixes to jointly reach US$ 171 Mn in value
- More than 50% of high strength premixes sales to occur across specialty stores
- Sales of high strength premixes to surge at 5% CAGR across the U.S market
- Europe to register around 4% CAGR for high strength premixes demand until 2031
- Nearly 2 out of 5 sales across East Asia to be yielded by the Chinese market
- India is likely to generate highly lucrative expansion opportunities, attributed to rising awareness about contemporary beverages
"Ready-to-drink or high-strength premixes remain popular and are becoming increasingly common; however, stringent regulations imposed by the COVID-19 may cause demand to decline but result in increased online sales of high-strength premixes in the market." says the Fact.MR analyst.
Several players aim to gain a dominant position in this market through the development of new products to strengthen their position in the market.
- On June 9, 2021, Strong Zero, Japan’s top-selling alcoholic premix, reached Australian shelves. This is a Suntory premix beverage, available at convenience stores across the nation. The company has treated holiday-starved Australians with their most requested flavor-lemon, now rebranded under the name of 196 Double Lemon Down Under.
- On October 15, 2020, Diageo launched a pair of new premix cocktails under two of its most popular spirits brands. These two new drinks, Gordon's Pink Martini and Smirnoff Passion Fruit Martini will both be available in 250ml cans and will both retain their 5-euro price.
More Valuable Insights
Fact.MR, in its new offering, brings to the fore an unbiased analysis of the global high-strength premixes market, presenting historical demand data (2016-2020) and forecast statistics for the period, 2021-2031. The study divulges compelling insights on the high-strength premixes market on the basis of product (spirit-based RTD, wine-based RTD, high-strength RTD, malt-based RTD) and sales channel (specialty stores, modern trade, duty-free stores, online stores, other sales channels) across seven major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa).
Fact.MR’s Domain Knowledge in Food & Beverages
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Sr. Consultant – Food and Beverages