RTD Beverages Market Scope:
The RTD beverages market will touch around USD 45.50 billion by 2030, recording a CAGR 5.40% between 2022 and 2030, 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 Share 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.
Segmental Review:
The RTD beverages market has been segmented depending on the type, bundling type, circulation channel, and area. By type, the worldwide market has been delegated cocktails and non-cocktails.
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:
North America can anticipate being the most lucrative market for RTD Beverages Market Trends 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 RTD Beverages Market 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.
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 industry.
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.
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.
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