The Ready to Drink Beverages Market is poised for impressive growth with a projected CAGR of ~6.5% from 2022 to 2032. Estimated at US$ ~17.4 billion in 2022, it is forecasted to reach US$ ~28.0 billion by 2032. The convenience, diverse product offerings, and changing consumer preferences are driving the market expansion during the forecast period.
As more people adopt convenience-driven consumption behaviours and lead hectic lifestyles, the market for ready-to-drink beverages is constantly expanding. People are becoming more interested in these on-the-go options, which provide a selection of imaginative and stimulating beverages in compact packaging. As a result of shifting consumer tastes and increased demand for more helpful and nutritious beverages, the market is expanding.
The global beverage market has developed through time as a result of continual product innovation. Soft drink history began in the 1990s with simple cola-flavored soda and has since evolved to encompass a variety of variations with distinct qualities such as flavour infusion, antioxidant additions, and a variety of other attributes.
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Rising flavour inspiration among customers has also increased market demand for interesting flavours and more pleasant beverages, resulting in a slew of new beverage concepts such as ready-to-drink beverages, functional beverages, and infused beverages. Because of the incorporation of more than one component in ready-to-drink beverages, ready-to-drink beverages are garnering customer attention due to their high nutritional content and lively flavour.
The number of COVID-19 patients is increasing across the globe because of which the governments of various countries have extended their lockdown. All companies and factories are closed in lockdown which impacts the production of ready to drink beverages.
There is possibility of disturbance in supply chain because of limited production of ready to drink beverages in lockdown. Moderate growth rate is expected in ready to drink beverages market in next two years as world is facing economic crises. The COVID-19 is caused by animals so consumers prefer plant based products over animal based products.
The consumption of vegan ready to drink beverages is expected to grow rapidly in the forecast period.
Key Takeaways from the Ready to Drink Beverages Market Study
- Recent research data suggests that the global prevalence of obesity has increased by more than 75% since 1980, while in the last twenty years it has tripled in developing countries and particularly, in low income countries. More than 1.1 billion adults are overweight, of which 312 million are obese. Thus, market players in food & beverage industry are highly focusing to embed healthy ingredients in their end products to develop insulin resistance, lower body fats and fluid lipid. In addition to this, ready to drink beverages also helps to suppress food intake together with increase in energy expenditure to reduce body fat.
- Millennials are the target audience for the ready to drink beverage market. The health-conscious millennials continue to redefine ready to drink beverage market. Ready to drink beverages give them freshness as well as energy. They are generation of busy lifestyles because of which they look for convenient, simple ways to conform to healthy lifestyle. The attractive unique packaging design on ready to drink beverages are favourable for beverage brands to market their product to young population. The eye catching slogan or advertisement on social media is influential factor for millennials towards ready to drink beverages.
“The awareness of health and wellness is rising due to which the demand for healthy and nutritious ready to drink beverages is rising. The frequency of launching gluten-free, fat-free, organic and vegan ready to drink beverages is increasing as well. Coupled with these, innovations in both organic and conventional ready to drink beverages will drive the market,” said an analyst at FMI.
Attractive Packaging Drawing the Attention of Consumers
Large number of manufacturers are entering into ready to drink beverages market which creates intense competition. To stand out in the competition manufacturers are focusing on innovative and unique packaging styles to grab the attention of consumers.
Craft beers and sparkling soda brands are following the trend of premium packaging trend. Quality and sustainability are the most important point which impacts the sale of the ready-to-drink beverages market. There is an inclination towards cans and glass bottles in ready-to-drink beverages as it gives premium look.
Yugen which is a Belgian brand collaborated with Ball Corporation to produce a new range of Kombucha packaged in printed cans. Attractive and unique packaging draws the attention of consumers.
Who is winning?
A few of the leading players operating in the global ready-to-drink beverages market are PepsiCo, Fuze Beverage, Coca-Cola, Danone, Kraft Foods, Keurig Dr Pepper, Inc., Campbell Soup Company and Abbott and other players.
Several leading manufacturers of ready-to-drink beverages are focusing on mergers and acquisitions to expand its business geographical presence and to product portfolio. Leading players of ready-to-drink beverages are investing in research and development to produce innovative products of ready-to-drink beverages.
- In 2017, Danone Group acquired White Wave Foods. The aim behind the acquisition was to strengthen the healthy and nutritious ready-to-drink beverages market in North America.
- In January 2021, Keurig Dr Pepper Inc. entered into a merger agreement with Maple Parent, which owns Keurig. The combined businesses created Keurig Dr. Pepper Inc. (“KDP”) to expand distribution capability and reach virtually every point of sale in North America.
Get Valuable Insights into Ready to Drink Beverages Market
Future Market Insights, in its new offering, provides an unbiased analysis of the global ready-to-drink beverages market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.
The study divulges compelling insights on the ready-to-drink beverages market-based product type (Tea, Coffee, Energy Drinks, Yogurt Drinks, Dairy Based beverages, Non-Dairy Based Beverages, Fortified Water, & Others), nature (organic and conventional), packaging (Bottle, Tetra Pack, Sachet, Tin Can and Others), distribution channel (Supermarkets/Hypermarkets, Convenience Stores, Grocery Stores, Speciality Stores & Online retail) across seven major regions.
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Frequently Asked Questions
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