RTD Beverages Market Outlook: Competitor, Regional Revenue, and Forecast 2032
RTD Beverages Market Scope
The RTD beverages market will touch
around USD 47.357 billion by 2030, recording a CAGR 5.40% between 2023 and 2032,
reveals Market Research Future (MRFR).
Growth Boosters and Challenges
Ready to drink beverages have gained
massive demand worldwide, particularly among millennials. The demand is
especially high for RTD juices, nectars, and smoothies, in line with the
emerging trend of a healthier lifestyle among consumers. The mass across the
globe is growing aware of the different beverages and food they consume and
carry out comparisons of the products to gain the benefits. Surging consumer
awareness, a heightened number of informed consumers with clearer expectations,
and their willingness to buy healthy goods can enhance the RTD
beverages market outlook in the years ahead. Additionally, mounting
awareness level about the toxic impact of alcohol consumption among the
consumers is compelling them to go for RTD non-alcoholic beverages instead of
alcoholic beverages, like spirits, beers, wines, and more.
On the other hand, the prevalence of an
unhealthy lifestyle has been contributing to the spread of diabetes,
cardiovascular diseases, and obesity, forcing consumers to opt for healthier
beverages. This has enhanced the preference for functional beverages among
consumers. Functional beverages are often marketed as drinks with healthy
ingredients that offer a wide series of health benefits. Owing to the presence
of healthy ingredients like vitamins, amino acids, herbs, bacteria, and
minerals in these beverages, the demand is seeing an upsurge worldwide.
The majority of the functional beverages
like non-alcoholic RTD beverages have a beneficial impact on the body,
including improved heart rate, immune system, electrolyte replenishing benefits
post-exercise, digestive health hydration, and better intestinal flora as well
as gut function, which is propelling the demand among consumers.
Top Companies
The Coca-Cola Company (U.S.), Tata Global
Beverages Limited (India), PepsiCo, Inc. (U.S.), Suntory Holdings Limited
(Japan), The Brown-Forman Corporation (U.S.), Red Bull GmbH (Austria), Heineken
N.V. (the Netherlands), Anheuser-Busch InBev SA/NV (Belgium), Mark Anthony
Group of Companies, Diageo PLC, Nestlé S.A. (Switzerland), Starbucks
Corporation (U.S.), Danone S.A. (France), Welch Foods Inc. (U.S.), Bolthouse
Farms, Inc. (U.S.), Keurig Dr. Pepper (U.S.), Bacardi Limited (Bermuda),
Bacardi Limited, Halewood Wines & Spirits, Inspiration Siam Co., Ltd.,
Constellation Brands Inc., Brown-Forman, RadicoKhaitan Limited, Manchester
Drinks, Molson Coors Beverage Company, The Boston Beer Company, Asahi Group
Holdings, Ltd., Global Brands Ltd., Carlsberg Breweries A/S, SHS Group, Davide
Campari-Milano N.V., Pernod Ricard SA, La Martiniquaise, Suntory Holdings
Limited are the renowned firms in the RTD beverages market.
Given the surging competition in the
worldwide market, brands are increasingly taking up effective strategies to
bolster their consumer base. Advertising campaigns, product innovation and new
launches are a few of the major strategies deployed by the major companies to
augment their market standings. Many eminent brands are focused on making use
of attractive packaging solutions to capture the interest of a higher number of
consumers.
Segmental Review
The source-wise segments are soy, whey,
milk, and others. The whey segment grabbed the highest share in 2017 and will
be leading the worldwide market in the following years. Whey protein is the
most sought-after source for RTD beverages given its significant nutritional
qualities, ease of digestibility, unique functionality and bland flavor. But
the soy segment will capture the fastest growth rate, thanks to the mounting
preference for substitutes for dairy proteins along with the surging cases of lactose
intolerance.
The RTD beverages market, depending on
packaging type, caters to cartons, cans, bottles, and others. The bottles
segment can expect to secure the top position in the years to come while also
attaining the highest CAGR due to its on-the-go convenience. On the other hand,
the cans segment should also thrive at a substantial rate in the years ahead.
The RTD beverages market, in terms of
distribution channel, can be classified as store-based as well as non-store
based; while the store-based segment has been considered for convenience
stores, supermarkets & hypermarkets, and others.
Regional Insight
RTD
beverages market insights studies that North America can anticipate being
the most lucrative market in the years to come. With the rapid change in
consumers’ preferences and tastes, with a higher inclination toward healthy
beverages, the interest in non-alcoholic RTD beverages has risen. This is one
of the top reasons behind the strong market growth. This shift is almost
parallel to the steady drop in the consumption of alcoholic beverages,
particularly among the US population, with a preference for low to no
alcohol-based healthy beverages. In addition, the surging popularity of
functional beverages, like sports drinks, energy drinks, fruit and vegetable
juices and RTD tea & coffee is fostering business growth.
The Asia Pacific market for RTD beverages
will make significant progress in the future, given the presence of a
burgeoning consumer base interested in exploring new beverages. The expansive
millennial population prefers healthier drinks, in the wake of the rising
influence of the western culture, giving a strong boost to the popularity of
healthy diets. This should foster the demand for juices, tea, coffee and
smoothies in the region.
Recent Developments
February 2022
Applied Nutrition, a UK-based renowned
sports nutrition brand is launching its latest L-Carnitine sports drink.
Carni-Tone is the brand’s first flavored spring water and will be an addition
to its series of ready-to-drink (RTD) products. It is also the brand’s first
L-Carnitine RTD beverage in the Applied Nutrition series and will be sold in
three new flavors –raspberry and cherry, apple and blackcurrant, as well as
summer fruits. The 500ml drink has zero calories, zero sugar, contains 1,500mg
of L-Carnitine, along with vitamins B3, B6 & B12, and is rich in minerals
NOTE: Our Team of Researchers are
Studying Covid19 and its Impact on Various Industry Verticals and wherever
required we will be considering Covid19 Footprints for Better Analysis of
Market and Industries. Cordially get in Touch for More Details.
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