The market for premix cocktails consists of sales of premix cocktails and its related products. Premixed cocktails are also known as alcopops, flavored alcoholic beverages, ready-to-drink (RTD) alcohol-based beverages, pre-packaged spirits, or premixed beverages. These are prepared from alcohol mix with fruit juice, contains healthy amount of carbonation, and is a packed form of alcoholic beverages for direct consumption. Premix cocktails categories can be wine-based, spirit-based, or malt-based drinks. These flavored drinks with low alcohol content are available for purchase generally through online channels, small retail shops, and convenience stores.
The global premix cocktails market is expected decline from $19.2 billion in 2019 and to $18.02 billion in 2020 at a compound annual growth rate (CAGR) of -5.95%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and reach $20.33 billion in 2023 at CAGR of 4.09%.
