At 15.3% CAGR, the South & Central America RTD Cocktails Market is projected to be worth US$ 5,407.08 million by 2030, says Business Market Insights

According to Business Market Insights’ research, the South & Central America RTD cocktails market was valued at US$ 1,727.15 million in 2022 and is expected to reach US$ 5,407.08 million by 2030, registering a CAGR of 15.3% 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 South & Central America RTD cocktails market expansion.             

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.

On the contrary, complex and diverse regulations hurdles the growth of South & Central America RTD cocktails market. 

Based on base type, the South & Central America RTD cocktails market is categorized into malt-based, tequila-based, vodka-based, whiskey-based, and others. The malt-based segment held 76.5% market share in 2022, amassing US$ 1,321.38 million. It is projected to garner US$ 4,130.79 million by 2030 to expand at 15.3% CAGR during 2022–2030.

Based on packaging type, the South & Central America RTD cocktails market is categorized into bottles, cans, and others. The cans segment held 77.3% share of South & Central America RTD cocktails market in 2022, amassing US$ 1,334.45 million. It is projected to garner US$ 4,187.63 million by 2030 to expand at 15.4% CAGR during 2022–2030.

Based on distribution channel, the South & Central America RTD cocktails market is categorized into supermarkets and hypermarkets, specialty stores, online retail, and others. The specialty stores segment held 47.1% share of South & Central America RTD cocktails market in 2022, amassing US$ 814.30 million. It is projected to garner US$ 2,424.30 million by 2030 to expand at 14.6% CAGR during 2022–2030.

Based on country, the South & Central America RTD cocktails market has been categorized into Brazil, Argentina, and the Rest of South & Central America.  Our regional analysis states that the Rest of South & Central America captured 49.8% share of South & Central America RTD cocktails market in 2022. It was assessed at US$ 860.74 million in 2022 and is likely to hit US$ 2,516.71 million by 2030, exhibiting a CAGR of 14.4% during 2022–2030.            

Key players operating in the South & Central America RTD cocktails market are Bacardi Limited, Beam Suntory Inc, Bom Dia Imports LLC, and Cepas Argentinas SA, among others.

• In June 2022, Grupo Cepas introduced Dr. Lemon Mojito in a can.
• In Mar 2021, Bacardi launched ready-to-drink martini cocktails.

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