Global Ready to Drink Beverages Market

Global Ready To Drink Beverages Market Size, Share, Growth Analysis, By Product Type(Flavoured Milk, Yoghurt), By Distribution Channels(Supermarket/Hypermarket, Speciality Stores) - Industry Forecast 2024-2031

Report ID: SQMIG30I2297 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 68 | Figures: 74

Global 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.

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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).

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. '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.'

The primary factor influencing ready to drink premium image and purchase is flavour.

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.

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.

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