USD 664.21 billion
Report ID: SQSG30I2020 | Region: Global | Published Date: October, 2022 | Pages: 165 | Tables: 64 | Figures: 74
RTD Protein Beverages Market size was valued at USD 664.21 billion in 2021 and is poised to grow from USD 702.89 billion in 2022 to USD 1076.94 billion by 2030, growing at a CAGR of 5.66% in the forecast period (2023-2030).
RTD beverages offer convenience with a unique approach to maintain fitness followed with a healthy lifestyle. RTD protein drinks are products produced from a mixture of high-protein ingredients to help the users meet their daily nutrient needs on the move. Better cardiovascular health, immunology, metabolism, and bone health are all benefits of protein beverages. As a common growth scenario, the rise in consumer awareness to maintain a healthy lifestyle has driven the RTD protein beverages market further.
US RTD Protein Beverages Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 664.21 billion
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The Global RTD Protein Beverages Market is segmented based on source, distribution channel and region. Based on source RTD Protein Beverages Market is categorized into plant-based and animal based.
Based on distribution channel, the market is categorized into hypermarkets, specialty stores, online retail stores and others. Based on region, RTD Protein Beverages Market is categorized into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Europe.
RTD Protein Beverages Market Analysis by Source
In 2022, the market for ready-to-drink protein drinks was dominated by animal-based sources, next by plant sources. Moreover, throughout the projected timeline, the growing number of vegans in advanced nations is expected to increase the need for plant source ready-to-drink protein drinks. Users are also looking for plant-sourced protein supplements as a result of the shift toward plant-based nutrition, hence, leading to RTD protein beverages market growth.
RTD Protein Beverages Market Analysis by Distribution Channel
In 2022, the online segment of the RTD Protein Beverages market is expected to increase rapidly. Increasing modernization and a growing desire to buy daily foods and drinks from online businesses because of the household delivery method will propel the online sector to explosive growth through 2028. Furthermore, rising internet literacy and smartphone use are expected to have a significant impact on RTD market expansion from the e-commerce segment.
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In 2022, North America held the largest share of the global ready-to-drink protein beverages market because of the existence of important industry leaders and convenient distribution channels. Growth in disposable income and the growing number of ready-to-drink protein beverage makers is expected to continue to drive the demand in regional markets.
However, the Asia Pacific is expected to be the fastest-growing region over the forecast period due to favorable demographic characteristics and a rising population of middle and upper income groups. Urban growth, combined with growing awareness of the health advantages of protein intake, is likely to drive market expansion in these markets.
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RTD Protein Beverages Market Driver
Increasing consciousness of consumers towards health followed with demand for functional beverages on rise among the consumers.
RTD Protein Beverages Market Restraint
Rising cost of functional beverages and limited demand hinders the market growth.
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The global market for RTD protein beverages is diverse, with a number of active competitors. To preserve their position in the market, companies have increased their R&D, marketing, and distribution channel expenditures. Larger companies are adding innovation to their product portfolio to respond to changing consumers' needs in order to maintain their RTD protein beverages market dominance.
RTD Protein Beverages Market Top Players Company Profiles
RTD Protein Beverages Market Recent Developments
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 RTD Protein Beverages Market Report analysis, the animal-based source beverages have the largest revenue share followed by plant-based. Based on distribution channels, the e-commerce segment has dominated the market share due to technological advancements and household delivery. Region-wise, the North American region accounted for the highest rtd protein beverages market share in 2021, and Asia-Pacific is expected to grow at the fastest rate during the forecast period.
|Market size value in 2021||USD 664.21 billion|
|Market size value in 2030||USD 702.89 billion|
|Forecast Unit (Value)||USD Billion|
|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)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global RTD Protein 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 Global RTD Protein 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.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global RTD Protein Beverages Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global RTD Protein Beverages Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
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