Asia Pacific RTD alcoholic beverages market was valued at US$ 9,708.4Mn in 2018, and is calculated to reach US$ 14,176.2Mn by 2027, growing at a CAGR of 4.3% from 2019 - 2027.
Changing consumer lifestyles as well as rising disposable income in these developing countries is stimulating the growth of bakery products demand, which is expected to drive the growth of RTD alcoholic beverages market in this region.
Alcoholic beverages are mainly a fermented form of sugars in berries, grains, fruits, and other ingredients that mainly contains ethyl/ethanol alcohol. Wine, spirits, and beer, and all starts with the fermentation process, which is the natural outcome of yeast breakdown of sugars. The demand for various RTD alcoholic beverages is growing at a faster pace in both developed and developing countries, including India, Indonesia, China, and Singapore, US etc. Changing drinking habits and lifestyle of millennial backed. The increasing trend of drinking of RTD alcoholic beverages in social gatherings is creating lucrative opportunities for manufacturers of alcoholic beverages across the Asia Pacific region. Beers and wines are gaining popularity among young consumers across Asia Pacific. The Asia Pacific RTD alcoholic beverages have been segmented on the basis of base type, packaging type and distribution channel. By base type, Asia Pacific RTD alcoholic beverages are bifurcated as whiskey, rum, vodka, gin and others which is further sub-segmented into numerous sub-types. The market is increasing in size for this product due to many reasons, the major being their instant consumption. They are not dependent on kind of mixing process before consumption.
Currently, the RTD alcoholic beverage consumption is continuously growing with the rise in disposable income and increasing the buying power of the consumer. Millennial is looking forward to high-end and super-premium products, which are also surpassing the growth of premium RTD alcoholic beverage products. In addition to this, the trend is also followed by other classes of population owing to the higher growth economy, and product innovation has drawn their attention towards more expensive products. The modern trends in premiumization and growing demand from consumers are also fostering the need for more innovative RTD alcoholic beverage, which further boosts the market growth. Moreover, many new pre-mixers are introduced in the market that is produced from both premium quality spirits and mixers. The premium products provide an authentic taste to the RTD alcoholic beverage products.
Along with this, growth in creative cocktails and an increase in cocktail culture have augmented the trend for super-premium RTD alcoholic beverages. The product innovation in different types of beverages such as flavored liquors and mixing variety of flavors together are fetching modernization in the RTD alcoholic beverage industry, There is a wide variety of brands in the premium and super-premium products are available. The trend towards ?drinking less but better? also continues to increase the demand for premium RTD alcoholic beverages.
Asia Pacific fertilizer additive market is segmented based on country as - India, China, Australia and Japan. Japan accounted for the largest share in the Asia Pacific RTD alcoholic beverages market and was forecast to maintain its dominance over the forecast period. China accounted for the fastest growing in the Asia Pacific RTD alcoholic beverages market and was forecast to maintain its dominance over the forecast period. With the growth in the consumption of low fat, low calories, and sophisticated flavored in the RTD Alcoholic Beverages, the demand for the products has substantially gone up in China. The consumer?s attraction toward the innovative product due to their attractive cans, use in different occasions, instant consumption is also propelling the growth of the market in the country.
Some of the players present in Asia Pacific fertilizer additive market are Anheuser-Busch InBev NV, Asahi Group Holdings, Ltd., Bacardi Limited, Carlsberg Breweries A/S, Suntory Holdings Limited, Brown-Forman, Diageo plc., Davide Campari-Milano S.p.A., Molson Coors Brewing Company
The overall Asia Pacific fertilizer additive market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the Asia Pacific Fertilizer additive market. Also, multiple primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Asia Pacific fertilizer additive market.