The global ready-to-drink beverages market size was nearly USD 720.4 Bn in 2022 and is likely to reach USD 1225.9 Bn by 2031, expanding at a CAGR of 6.2% during 2023 – 2031. Rising consumption of functional drinks and healthy probiotic drinks across the globe, due to hectic lifestyles are expected to fuel the market.
Ready-to-drink (RTD) beverages are drinks packaged in single-use containers for immediate consumption. Bottled water is not the only form of the ready-to-drink beverage known today. With intensive research and technological advancements, several beverages are included in the category of ready-to-drink beverages. Sports & energy drinks, yogurts, smoothies, flavored milk, and juices are some of the RTD drinks that have gained popularity.
Recent studies have shown the growing popularity of alcoholic beverages around the globe. Other than packaged drinking water, alcoholic beverages hold about 19.4% share of the global consumption of packed beverages. This was followed by milk & dairy drinks and carbonated soft drinks that accounted for more than 18% of the total market share respectively.
The market report finds that the COVID-19 pandemic moderately impacted the market. The market growth was decreased, due to labor shortages, traveling restrictions, distribution channel hindrances, and fluctuations in raw material supply. The sales of carbonated beverages and dairy beverages dropped significantly. However, the demand for healthy beverages that boost immunity has increased drastically with an increased focus on the consumption of healthy foods, which fueled the market to a certain level.
Ready-to-Drink Beverages Market Dynamics
Major Drivers
Increasing popularity of healthy probiotics and functional beverages is likely to boost the market during the projected period. Probiotics prevent and treat diarrhea and boost the immune system. Innovations in beverage manufacturing such as the production of crafted alcoholic beverages that are low in fat content and carbohydrate are expected to fuel the ready-to-drink beverages market. Adoption of healthier lifestyles through the intake of vegan and sugar & gluten-free RTD drinks is expected to drive the market.
Existing Restraints
The presence of high sugar content in RTD beverages is projected to hinder the market. The high sugar content can cause calcium deficiency and increases obesity concerns among consumers. Furthermore, high consumption of RTD beverages may create problems of diabetes or high blood pressure, which restraints the market.
Emerging Opportunities
Growing inclination toward fitness activities creates lucrative growth opportunities. Ready-to-drink beverages are convenient for on-the-go options, which suit the busy lifestyles of youth and working professionals. RTD drinks offer tangy tastes and flavors, which makes them popular among the masses. The introduction of new flavors and premixing of beverages to form cocktails is further likely to propel the market.
Scope of the Ready-to-Drink Beverages Market Report
The report on the global ready-to-drink beverages market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Ready-to-Drink Beverages Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016 – 2021
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Forecast Period
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2023–2031
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Segmentation
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Product (Alcoholic [Fermented and Distilled] and Non-alcoholic [Tea & Coffee, Yogurt, Flavored Milk, Smoothies, Juices, Carbonated Soft Drinks, and Sports & Energy Drinks]), Packaging Type (Cartons, Cans, Bottles, and Others), and Distribution Channel (Convenience Stores and Supermarkets)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Laihian Mallas; Tru Blu Beverages; The Coca-Cola Company; SUNTORY BEVERAGE & FOOD LIMITED.; Starbucks Corporation; Britvic PLC.; PepsiCo Inc.; National Beverage Corp.; ASAHI GROUP HOLDINGS, LTD.; F&N Foods Pte Ltd.; Bickford's Australia; Nestle; Soylent; and Parle Agro Pvt. Ltd.
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Market Segment Insights
On the basis of product, the ready-to-drink beverages market is bifurcated into alcoholic and non-alcoholic beverages. The non-alcoholic segment is further classified into tea & coffee, yogurt, flavored milk, smoothies, juices, carbonated soft drinks, and sports & energy drinks. The non-alcoholic segment is expected to expand at a significant growth rate during the projection period, owing to the availability of multiple options such as energy drinks, carbonated beverages, functional drinks, and juices.
Non-alcoholic beverages are low in calories, which makes them a healthier option for balancing diet plans. Physical and mental health are not compromised by the consumption of non-alcoholic RTD drinks. Increasing demand for flavored beverages and sports drinks is likely to boost the segment.
- For instance, Soylent is a world-famous brand producing ready-to-drink beverages that are composed of isomaltulose, soy protein isolates, high oleic sunflower oils, and essential vitamins & minerals.
The alcoholic beverages segment is further bifurcated into fermented and distilled segments.
The alcoholic segment is anticipated to hold a key share of the market in the coming years, due to the growing intake of alcoholic beverages in social gatherings and for personal pleasure. The growing popularity of wines, beer, and spirits with innovation in flavors is expected to propel the segment in the forecast period.
Based on packaging type, the market is divided into cartons, cans, bottles, and others. The bottles segment is expected to expand at a significant pace during the projection period, owing to the widescale use of polyethylene terephthalate resins (PET) in manufacturing bottles for packing beverages. Polyethylene terephthalate is strong and durable, resistant to microbial contamination, and does not react with beverages contained in PET bottles which are expected to fuel the segment.
The cans segment is anticipated to hold a key share of the market, owing to the infinitely recyclable properties of cans used for beverage packing. Ease of recycling and sorting is an added advantage of using cans. Metal cans are non-toxic and help in retaining the flavor and color of the contained food.
On the basis of distribution channel, the market is divided into convenience stores and supermarkets. The supermarket segment is projected to hold a large share of the market, due to a wide variety of RTD beverages with multiple brands available under a single roof. Several discounts and offers on products offered by supermarkets make it a preferable choice among consumers.
The convenience stores segment is anticipated to gain significant revenue shares of the ready-to-drink beverages market, owing to the ease of accessibility of shops and stores for consumers. The introduction of digital payments and home delivery services offered by store owners is likely to boost the market in the come years.
In terms of region, the global ready-to-drink beverages market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the projection period, due to the increasing consumer preferences towards fortified beverages than carbonated beverages. Fortified beverages are rich in nutrients that are not present naturally. Growing flexitarian and vegan intake trends are likely to bolster the market in the region.
The market in Asia Pacific is projected to grow at a rapid pace, owing to the growing population who are involved in physical activities. Increasing youth and working consumers highly demand for energy drinks, due to their hectic work life. Moreover, the rising popularity of plant-based protein available in the form of beverages is likely to fuel the market in the region.
Segments
The global ready-to-drink beverages market has been segmented on the basis of
Product
- Alcoholic
- Non-alcoholic
- Tea & Coffee
- Yogurt
- Flavored Milk
- Smoothies
- Juices
- Carbonated Soft Drinks
- Sports & Energy Drinks
Packaging Type
- Cartons
- Cans
- Bottles
- Others
Distribution Channel
- Convenience Stores
- Supermarkets
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Laihian Mallas
- Tru Blu Beverages
- The Coca-Cola Company
- SUNTORY BEVERAGE & FOOD LIMITED.
- Starbucks Corporation
- Britvic PLC.
- PepsiCo
- National Beverage Corp.
- ASAHI GROUP HOLDINGS, LTD.
- F&N Foods Pte Ltd.
- Bickford's Australia
- Nestle
- Soylent
- Parle Agro Pvt. Ltd.
Competitive Landscape
Players in the ready-to-drink beverages market include Laihian Mallas; Tru Blu Beverages; The Coca-Cola Company; SUNTORY BEVERAGE & FOOD LIMITED.; Starbucks Corporation; Britvic PLC.; PepsiCo Inc.; National Beverage Corp.; ASAHI GROUP HOLDINGS, LTD.; F&N Foods Pte Ltd.; Bickford's Australia; Nestle; Soylent; and Parle Agro Pvt. Ltd.
Some of these companies adopted strategies including mergers, acquisitions, partnerships, collaboration, product launches, and production expansion to cater to customers worldwide. For instance,
- In February 2022, PepsiCo introduced Nitro Pepsi, the first nitrogen-infused Cola. This ready-to-drink is much softer than a soft drink and has a creamy, smooth, and mesmerizing cascade of tiny bubbles.
- In July 2021, Starbucks Corporation and Nestle collaborated to launch a ready-to-drink coffee product chain across Oceania, Latin America, and Southeast Asia (SEA). The partnership has evolved Starbucks-branded coffee and tea products in over 79 markets outside the retail stores of Starbucks.
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