Ready-to-Drink Beverages Market Surpass USD 169.5 Bn by 2031, Registering at a CAGR of 6.6% | Exclusive Study by Transparency Market Research

Wilmington, Delaware, United States, July 19, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global ready-to-drink beverages market was valued at US$ 89 Bn in 2022. The market is expected to grow at a CAGR of 6.6% from 2022 to 2032. The global ready-to-drink beverages market is projected to reach value of US$ 169.5 Bn by the end of 2032

Ready-to-drink beverages are packaged flavored drinks, which are available for direct consumption. Convenience and instant nature of ready-to-drink beverages are the key factors for their growing popularity across the globe.

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Market Snapshot:

Competitive Analysis

The global market is moderately consolidated, with the presence of a few large players that control majority share. Key players are engaging in innovation and product development for expanding their product portfolio. Furthermore, large manufacturers are focusing on strategic acquisitions of local players in various countries to strengthen their geographical footprint.

Asahi Group Holdings, Ltd., PepsiCo Inc., The Coca-Cola Company, Nestlé S.A., Kraft Heinz Foodservice, Suntory Holdings Limited, Gehl Foods, LLC, O-AT-KA Milk, William B. Reily and Company, Inc., and Danone S.A.

Key Findings of Study

Availability of Range of Ready-to-drink Coffee Flavors Driving Market Expansion – Coffee is widely consumed in most parts of the world due to its rich smell, soothing and savory taste, and caffeine content. The energy benefits offered by ready-to-drink coffee is also luring the elderly population, as it is similar in taste to regular coffee. Therefore, familiar taste along with instant preparation is a key factor fueling market growth.

Availability of a range of popular flavors of ready-to-drink beverages offered by companies is propelling market expansion. This aligns with increase in demand for various flavors, as more consumers experiment with food & beverages and new flavors & tastes. Moreover, different types of coffee are available in ready-to-drink products, such as latte, mocha, and espresso, thus serving and fulfilling specific likings.

Rise in Demand for Flavored Tea Fueling Market Value – Availability of a range of flavors of tea at any given time is attracting consumers. In the U.S. and Canada, RTD that contains tea concentrate from China and India is a real treat for consumers. Moreover, real fruit and berry flavors are added to the tea. This creates curiosity among individuals to try new flavors, which is expected to increase demand for flavored tea in the next few years.

Increase in Demand for Carbonated Soft Drinks – In terms of product type, the carbonated soft drinks (CSDs) segment accounts for approximately 28% share of the ready-to-drink beverages market. Increase in shift toward calorie-laden beverages such as CSDs, which provide instant refreshment, is fueling the segment. Moreover, carbonated soft drinks are available in a range of flavors that allow consumers to choose as per their likings, culture, taste, and needs.

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Growth Drivers

• Varied flavor offerings in ready-to-drink beverages is fueling the ready-to-drink beverages market
• Changing lifestyle and increasing popularity of flavored food and beverages augmenting market growth

Regional Landscape

Europe held around 25% share of the global market in 2022. Growth in the region is ascribed to substantial demand for ready-to-drink products from millennials and their inclination for specialized flavored drink products. The ready-to-drink beverages market in Europe is projected to expand at a CAGR of 6.9% in terms of volume during the forecast period.

East Asia and South Asia held significant share of the ready-to-drink beverages market in 2022. Increase in disposable income, high per capita consumption of RTD beverages, and growth in population are expected to lead to significant growth in both the regions in terms of volume during the forecast period.

The global ready-to-drink beverages market is segmented as follows:

Global Ready-to-Drink Beverages Market, by Product Type

• Carbonated Soft Drinks
• RTD Coffee
• RTD Tea
• Dairy-based Beverages
• Fruit Juice
  

Global Ready-to-Drink Beverages Market, by Distribution Channel

• Business to Business (Foodservice)
• Business to Consumers
• Supermarkets/Hypermarkets
• Convenience Stores
• Specialty Stores
• Online Retail
• Departmental Stores
• Vending Machine

Global Ready-to-Drink Beverages Market, by Region

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East and Africa
  

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