Companies and brands were relying too much on marketing and ignoring the products per se, which contributed to the market’s sudden rise as well as causing the sudden fall. Flavours and ingredients should be the key innovation direction going forward for RTD alcoholic drinks.
Albany, NY -- (SBWIRE) -- 08/07/2017 -- RTDs have become one of the most innovative and adaptive categories in the alcohol world. The category delivers on convenience, with the highest percentage of participants turning to RTDs over other alcohol types because they don't require preparation. A new study, focusing on the Chinese market of RTD has been published to the vast repository of Market Research Hub (MRH), with the title of "China Alcoholic Drinks Market- June 2017". According to this study, China's RTD alcoholic drinks market in China is estimated to be slowly recovering in 2017 in both volume and value sales from its significant fall in 2016.
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This study discovers the latest market trends and uncovers sources of future market growth for the Alcoholic Drinks industry in China. In the first part, the report presents a detailed overview of the current market scenario of RTD drinks, in terms of volume and value for the period of 2013-2017. Ready to drink (RTD) beverages are prepackaged drinks which are ready for consumption. These are both alcoholic and non-alcoholic. Alcohol based RTDs are well-known as flavoured alcoholic beverages can be consumed directly or used as a mixture in cocktails & alcohol. In China and Japan consumers prefer tea as a beverage but due to busy lifestyles, they are shifting towards RTD teas because of the ease of consumption and convenience.
As per China consumer's perspective, most RTD alcoholic drinkers are light users. Data showed in report states that ready-to-drink cans and pouches are popular with consumers because of the convenience they offer. Specifically, RTD alcoholic drinks allow consumers to emulate the out-of-home experience at a cheaper price. RTD alcoholic drinks penetrate in both off-trade and on-trade. The research further analyzes that the performance of RTDs is negatively affected by the recession in recent years, and recovery of alcoholic drinks is expected in 2017. To explore the key facts behind this expected sales, the analyst has focused on total market volume, market share of leading RTD alcohol players, by value in China, 2015 and 2016.
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As per the research findings, companies and brands were relying too much on marketing and ignoring the product quality, which contributed to the market's sudden rise as well as causing the sudden fall. To overcome this issue, flavours and ingredients should be the key innovation direction going forward for RTD alcoholic drinks. Moreover, the study also finds that women should still be the key target segment, however, more female-oriented products that look beyond common fruit-flavoured RTD alcoholic drinks, such as those with unique ingredients indicative of health and beauty benefits, could potentially be the inspirations for new product developments.
The study further explores the major market factors, along with analysis of key players, market shares, competitive strategies, consumer's perception towards different alcohol types etc.
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