USD 83.51 billion
Ready To Drink Beverages Market Size, Share, Growth Analysis, By Product Type(Flavoured Milk, Yoghurt, Tea, Coffee), By Distribution Channels(Supermarket/Hypermarket, Speciality Stores, Convenience Stores, Online Retails), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30I2297 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|Tables:
68
|Figures:
74
Ready To Drink Beverages Market Insights
Ready To Drink Beverages Market size was valued at USD 83.51 billion in 2019 and is poised to grow from USD 89 billion in 2023 to USD 146.3 billion by 2031, growing at a CAGR of 6.6% in the forecast period (2024-2031).
The increased popularity of ready to drink beverages and other ready-to-drink (RTD) goods has caused manufacturers to capitalize on shifting consumer consumption trends. The producers' inclusion of convenience and sensory qualities in their products has a significant impact on the demand for ready to drink beverages. The demand for ready to drink beverages has been fueled by growing urbanization and hectic lifestyles. Additionally, the product gives users a longer shelf life and portability for uses like travelling. To offer new items in the market, ready to drink beverages manufacturers are concentrating heavily on introducing innovative and value-added products. It is projected that the ready to drink beverages market would grow as their consumer appeal grows.
The ready to drink beverages market has been significantly impacted by the working consumers' rising need for premium and convenient beverages. The trend among customers has changed from homebrewed beverages to ready-made beverages. The diverse flavors and additives improve the taste of the beverages, luring customers to buy the goods and raising ready to drink beverages sales on a global scale.
Ready to drink beverages are functional and processed drinks that lose some of their nutritional value in the production process. Due to health concerns, a number of customers favor fresh and natural beverages, which is projected to hinder the growth of the global ready to drink beverages market.
US Ready To Drink Beverages Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Supermarket/Hypermarket
Fastest Growth
Supermarket/Hypermarket
Growth Rate
6.6% CAGR
Global Ready to Drink Beverages Market, 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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Ready To Drink Beverages Market Segmental Analysis
The global ready to drink beverages market is segmented based on product type, distribution channel and region. Based on the product type, the ready to drink beverages market is segmented as flavoured milk, yoghurt, tea, coffee, fruits & vegetable-based drinks, flavoured & fortified water, and others. Based on distribution channel, the ready to drink beverages market is segmented as supermarket/hypermarket, speciality stores, convenience stores, online retails. Based on region, the Ready to Drink Beverages market is categorized into North America, Europe, Asia-Pacific, and MEA.
Growing coffee consumption to boost the product demand
According to the product type, flavoured milk and yoghurt are the most popular products in the global ready to drink beverages market. Customers have a tremendous appetite for the various flavours that are now in the market. The goods are becoming more and more popular with customers of all ages, which has led to a general increase in the use of flavoured milk and yoghurt. Businesses, cafes, and other organisational bodies are also responding enthusiastically to customer demand for tea, coffee, and other beverages.
The rise of "café culture" has put ready-to-drink coffee in the spotlight in the global market. Due to consumers' preference for portable, extremely handy coffee beverages over fizzy beverages and energy drinks, international brands are chasing this potential market. There are now more instances where people can enjoy their favourite beverages because of the rise in coffee drinkers. Enhanced convenience and on-the-go lifestyles have nudge consumers to opt for the stimulating experience of coffee.
Numerous cutting-edge goods, like cold brew, snap cooled coffee, and sparkling canned coffee, are available in the handy coffee category. This high demand can be attributed to consumers' growing preference for ready to drink beverages over traditional carbonated soft drinks and energy drinks as a healthier alternative. In addition, consumers who are constantly on the go are flocking to these products to meet their hectic lifestyles.
The industry is also being driven by increased demand for bottled water as a result of the global shortage of fresh, clean drinking water. Over the projected period, factors like the health advantages of bottled water with additional minerals and nutrients are likely to fuel demand.
Ready To Drink Beverages Market Analysis by distribution channel
Supermarkets and hypermarkets are predicted to be the dominant distribution channels in the ready to drink beverages market and to play a significant role in the expansion of ready to drink beverages sales. It is projected that a large consumer reliance on supermarkets and hypermarkets for the purchasing of grocery items would have a substantial impact on the expansion of ready to drink beverages. Local grocery stores and large national chains, like Kroger in the United States, are part of the mainstream food distribution network. Due to their enormous popularity, particularly in Asian countries, convenience stores are also projected to have significant development in the years to come.
The online segment is expected to register the fastest CAGR of 14.4% from 2022 to 2028. The sector also includes the e-commerce sites and platforms used by the companies to sell their goods. Companies now provide products through this channel due to growing consumer preference for internet platforms.
Global Ready to Drink Beverages Market By Distribution Channel, 2021 (%)
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Ready To Drink Beverages Market Regional Insights
The ready to drink beverages market is currently led by North America. Ready to drink beverages consumption has increased as a result of the alteration in eating and drinking habits due to health and beauty concerns. Americans prefer diet and low-calorie beverages as well as beverages with prebiotics in order to maintain their health, weight, and digestive systems.
But in the upcoming years, it is projected that developing regions would expand quickly. There is a tremendous rise in health and wellness awareness, which is driving up consumption of wholesome ready-to-drink beverages. In these regions, the demand for ready-to-drink beverages that are nourishing, protein-focused, gluten-free, sugar-free, and non-GMO is growing rapidly. Coffee consumption is rising as a result of urbanisation and changing lifestyles, which is boosting the ready to drink beverages market.
Due to the booming sales of ready-to-drink beverages in Asia Pacific and Latin America, the major producers of these beverages are growing their business footprints in these regions. Ready to drink beverages market has enormous growth potential in the expanding Asia Pacific region. Some of the key factors driving the demand in the region include rising disposable income and shifting customer habits. One of the major markets in the region is the emerging economies, including China and India.
Global Ready to Drink Beverages Market By Geography, 2021-2028
- Largest
- Fastest
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Ready To Drink Beverages Market Dynamics
Ready To Drink Beverages Market Driver
- The primary factor influencing ready to drink premium image and purchase is flavour.
According to IWSR consumer research, the release of new flavours is regarded by more than half of ready to drink drinkers (56%) as being the most crucial element in creating a premium image, followed by affiliation with a well-known brand and the use of creative packaging. The primary factor driving consumer preference for ready to drink purchases, which accounts for about 70% of all purchases, is flavour. Although malt-based products are gaining market share as well, led of course by the rise of hard seltzers, there is a definite preference among consumers for spirit-based ready to drinks in most regions as they generally have connotations of greater quality.
- Increasing demand for natural ingredients over fortification
According to a survey, customers prefer naturally occurring ingredients in their ready-to-drink beverages over those with additional antioxidants, vitamins, and minerals. In order to keep up with the expansion of the global ready to drink beverages market, fruit concentrates are added to ready-to-drink beverages that provide the same health benefits as the ready-to-drink beverages.
Ready To Drink Beverages Market Challenge
- Product diversity
Prominent beverage manufacturers have been expanding their product lines for decades; sugar-free, low-sugar, and caffeine-free sodas have long been available. The pressure to provide many variants of each product has generally been avoided by smaller size businesses. They are discovering that the customers value variety and flexibility now that small-scale beverages are competing on an increasingly equal footing with drinks manufacturers. Smaller beverages manufacturers must figure out how to use inventory management and food manufacturing software to manage more product variants within each product line without sacrificing quality or efficiency. Due of the cheap cost needed, many small-scale businesses copy ready to drink items, using fake labels that look like those of well-known brands. These goods are typically sold for less money or for the same amount as branded goods, but they lack the same level of quality and flavour as genuine brands. Such incidents damage the brand's reputation and reduce sales. People who are allergic to these things may experience major health issues as a result of these small-scale businesses' improper cleaning and packaging practises.
- Waste reduction
Key companies in the ready to drink beverages market are aggressively reducing waste as the beverages market becomes more competitive to maintain already thin margins. Many organisations are focusing on reducing the cost of carrying inventory, especially beverages producers who frequently need to set aside sizable warehouse spaces for bottles, cans, and components. In addition, an increasing number of beverages producers use a lean inventory management strategy. This can involve employing food manufacturing software to set up the production line for optimum flexibility and scalability as well as just-in-time inventory, where stock is only received as needed.
- Traceability with beverages manufacturing software
The growing beverages consumer is concerned about labelling and transparency due to an increased focus on wellbeing and moral consumption. Customers want to know if their beverages are fair trade, organic, or made with GMO ingredients. While the mainstream beverages business is only now responding to new trends like fair trade sugar in soft drinks or fair trade, non-GMO fruit in juices and smoothies, the coffee industry has been adjusting to a widespread customer demand for fair trade beans for more than a decade. Beverages manufacturers should be able to trace their product supply chains all the way back to the farm or field in order to meet customer expectations, which is likely to call for a far higher standard of traceability than in the past. Software for food production is necessary to accomplish this standard.
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Ready To Drink Beverages Market Competitive Landscape
Some of the top firms competing in the ready to drink beverages industry are the Coca-Cola Company, PepsiCo, Danone, Nestlé S.A., Keurig Dr Pepper, Inc., Fuze Beverages, Kraft Foods Group, Campbell Soup Company, and Abbott. Businesses are concentrating on mergers and acquisitions in addition to the sustainability of food goods in order to enhance their supply chains and grow their businesses. The emergence of clever commercials, various manufacturer marketing initiatives, and the introduction of products with practical advantages have further raised the sales percentage of the businesses globally.
Ready To Drink Beverages Market Top Players Company Profiles
- Danone S.A.
- Coca-Cola
- PepsiCo
- Nestle
- Keurig Dr Pepper
- Monster Beverage Corporation
- Red Bull GmbH
- Starbucks Corporation
- Ocean Spray Cranberries
- Arizona Beverages USA
- Bai Brands
- Britvic plc
- Cott Corporation
- Suntory Beverage & Food Ltd.
- The Hershey Company
- The J.M. Smucker Company
- The Kraft Heinz Company
- The Welch's Company
- Yakult Honsha Co., Ltd.
Ready To Drink Beverages Market Recent Development
- In 2022, PepsiCo’s Rockstar Energy brand unveiled an energy drink infused with hemp seed oil as well as B vitamins, spearmint and lemon balm. The beverages have 80 milligrams of caffeine. The hemp-infused drink is sugar- and calorie-free and will be sold in three flavours – blueberry, passionfruit and raspberry cucumber.
- In 2021, REBBL, launched REBBL POP and REBBL Stacked Coffee, plant-based, organic drinks. REBBL POP are available in Root Beer, Mandarin Orange, Blackberry, and Ginger Lime flavour. They are certified organic, non-GMO, vegan, gluten-free, and made without cane sugar. While REBBL Stacked Coffee comes in Cafe Mocha, Vanilla Latte, Hazelnut Latte, and Straight Black flavour. Stacked Coffee comes in sustainable 100% recycled and recyclable plastic bottles.
- In 2021, Honest Tea, a wholly-owned subsidiary of The Coca-Cola Company, expanded its bottled beverages portfolio with the launch of Honest Yerba Mate.
Ready To Drink Beverages Key Market Trends
- Due to growing consumer knowledge of mindful living and wholesome eating, shoppers are becoming more health conscious. The prevalence of obesity-related diseases like diabetes, hypertension, and heart disease has led consumers to avoid purchasing unhealthy food items. Moreover, customers that desire to lead healthy lifestyles favour organic and natural products. Ready-to-drink beverages that are sugar-free, vegan, gluten-free, and organic are now widely accessible, and their popularity is rising. In order to meet the rising demand from customers, it has prompted beverage makers to release a wide variety of low-calorie RTD beverages. Manufacturers in the low-calorie RTD beverage industry work hard to meet consumer demands for sustainability, nutrition, and good health. Thus, in February 2021, Intelligentsia, a Chicago-based coffee brand, entered the ready-to-drink (RTD) category with a line of fully vegan beverages. Intelligentsia launched its first ready to drink line with two Oatly-based lattes (Oat Latte and Spiced Oat Latte with vanilla, ginger, cinnamon, and orange) along with Cold Brew Coffee.
Ready To Drink Beverages Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our business information services team that collects, collates, co-relates, and analyses the data collected by means of primary exploratory research backed by the robust secondary desk research.
According to our analysis, numerous innovative beverages concepts, including infused beverages and functional beverages, have been created in response to rising customer demand for enticing flavour and more enjoyable beverages. Ready-to-drink beverages are drawing attention from consumers due to their superior nutritional value and vibrant flavour, which is a result of the combination of many ingredients.
Functional ready to drink drinks offer a chance for businesses to stand out from the competition by making health claims. Consumers are searching for goods that have a wide range of functional advantages, such as probiotics, antioxidants, reduced sugar, low inflammatory levels, and additional protein, among others. Additionally, more dairy-free and vegan options are being introduced on the market to meet the need for convenient and wholesome on-the-go beverages options.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 83.51 billion |
| Market size value in 2031 | USD 146.3 billion |
| Growth Rate | 6.6% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Ready To Drink Beverages Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Ready To Drink Beverages Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Ready To Drink Beverages Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Ready To Drink Beverages Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Ready To Drink Beverages Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Ready To Drink Beverages Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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