Europe Ready-to-Drink Beverages Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Europe Ready-to-Drink Beverages Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Europe ready-to-drink beverages market is projected to register a CAGR of 6.28% during the forecast period, 2022-2027.

Consumer awareness for health and wellness, demand for clean labels, and high preference for functional beverages are some of the key factors boosting the growth in the RTD beverage category. With increasingly hectic schedules, there has been a constant growth in ready-to-drink beverages such as coffee, tea, and functional beverages including energy drinks across the region. Moreover, changes in lifestyle and dietary habits coupled with increased consumer expenditure are driving the consumption of snacking beverages and contribute to the overall demand for ready-to-drink beverages across the European market.

Furthermore, rising participation in sports activities and an increasing number of fitness enthusiasts are influencing the market growth, as there is high demand for electrolyte-infused energy drinks to keep hydrated before, during, and after workouts. For instance, the statistics released by Eurostat report that in 2019 around 44% of the European population aged 15 years and above have practiced sport or physical activity at least once a week.

Key Market TrendsGrowing Preference for Convenient and Healthy On-The-Go Beverages

With the changing dietary habits, expenditure on food and beverages has increased. Additionally, awareness of healthy drinks and the desire to try new varieties all contribute to increased sales of convenience food and beverages, especially RTD tea and coffee. Moreover, due to their busier schedules and inability to find time for full meals, consumers are choosing ready-to-drink beverages for on-the-go consumption. Consumers are more aware of their health nowadays, thus, they prefer to drink healthier beverages such as energy drinks, fruit juices & vegetable juices, because it keeps the body hydrated and contains essential nutrients to support gut health, weight management, beauty-from-within, and heart health. Thus, the demand for ready to drinks beverages across the European Market has increased significantly in past few years.

Additionally, there is a preference for fruit flavors among youngsters, which has led manufacturers to create new product innovations. Further, companies are also launching flavored milk varieties with enhanced functional properties to suit the need of the population

United Kingdom is the Largest Market

Ready to Drink beverages market in the United Kingdom is highly diversified in terms of consumption patterns and products, mainly due to the differences in tastes and preferences owing to the social and cultural influences across different nations. Drinks that provide health benefits and an invigorating taste are becoming increasingly popular. The functional beverage industry is increasingly driven by the consumers' recognition of the link between diet and health and the affluence of the millennial population, which is willing to pay for value-added products.

With the growing trend toward health and wellness among consumers, functional waters with a blend of diverse flavors are increasingly being sold in markets across the country. Furthermore, the increasing trend of sugar-free or natural-sweetener-based functional drinks, which have little to no calories, is anticipated to drive market growth during the study period. For instance, a recent research study published by Cambridge University shows that UK households bought 10% less sugar through soft drinks in 2019 compared to 2018 after the introduction of the new sugar tax policy by the government of the United Kingdom.

Competitive Landscape

Some of the leading manufacturers operating in the Europe ready-to-drink market are Suntory Beverages & Food Limited, Nestle SA, The Coca-Cola Company, Monster Beverage Corporation, and Red Bull GmbH, among others. These companies are investing in research and development to maintain their positions in the market through new product innovations and increase their brand presence in the region. Thus, Manufacturers are increasingly introducing new varieties of RTD beverages, in terms of ingredients, flavor, functionality, price, packaging size, and format. For instance, in March 2022, Arctic Blue Beverages, a Finland-based company launched their first oat-based ready-to-drink (RTD) called Hang Oat Vanilla. The company is planning to launch the product throughout the Europe region by the end of this year.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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