LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global spirit-based RTD mixes market report until 2021. This research report also lists seven other prominent vendors that are expected to impact the market during the forecast period.
The research study by Technavio on the global spirit-based RTD mixes market for 2017-2021 provides a detailed industry analysis based on the product (dark spirit-based RTD mixes and light spirit-based RTD mixes) and geography (the Americas, Europe, APAC, and MEA).
“The global spirit-based RTD mixes market size is projected to reach 2.91 billion liters by 2021, growing at a CAGR of over 7% through the forecast period. Premiumization of the products in the market by using better quality ingredients is appealing to a larger consumer base. Therefore, premiumization is considered to be one of the key drivers of the global market,” says Manjunath Reddy, one of the lead analysts at Technavio for alcoholic beverages research.
Competitive vendor landscape
The global spirit-based RTD mixes market witnesses rapidly changing consumer demands, preferences, and living standards. The players in the market compete based on price, quality, innovation, reputation, and distribution. Few of the key players in the market are very capable in terms of financial resources and specialization, giving them an edge against the other players in the constantly changing market landscape. Manufacturers in the market distinguish their product and service offerings through a clear and unique value proposition to establish a firm foothold on the market.
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Top five vendors in the global spirit-based RTD mixes market
Bacardi is the world's largest privately-held spirits company. It is an alcoholic beverages company that produces and markets a wide range of spirits and wines. The company is coming up with local flavored RTD products to attract consumers. The company is also involved in various programs to promote responsible drinking and to prevent under-age drinking.
Beam Suntory operates as a manufacturer and retailer of distilled spirits products in the global market. The company functions through various business models to sell and distribute its products in the market; like in the US, the company retails its products through wholesale distributors to the reseller to the retails outlets.
Diageo is a premium drinks company. The company offers a broad range of alcohol beverages that include spirits (brandy, cognac, gin, liqueurs, rum, schnapps, spirit drinks, tequila, vodka, whiskey, and reserve), beer, and wine. The key products sold by the company under the spirit-based RTDs segment includes Smirnoff Ice, Bevé, and Jeremiah Weed.
Gruppo Campari is a beverage company. It offers over 50 brands of spirits, wines, and soft drinks. Some of its internationally renowned brands are Aperol, Campari, Cinzano, Appleton Estate, SKYY Vodka, and Wild Turkey. The company is coming out with new flavors for its existing product lines to attract the attention of the consumers.
Pernod Ricard manufactures and retails spirits and wines. It offers vodka, rum, gin, champagne, bitter, and brandy. The company is a leader in the US market. Some of the brands in the company's product portfolio in the spirit-based RTD mixes market include Absolut Botanik, Jameson, and Malibu.
Browse Related Reports:
- Global Alcoholic Drinks Market 2016-2020
- Global Alcoholic Ingredients Market 2016-2020
- Global Specialty Spirits Market 2016-2020
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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