Ready To Drink Beverages - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

Ready To Drink Beverages - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

The Ready To Drink Beverages Market size is estimated at USD 361.01 billion in 2024, and is expected to reach USD 456.60 billion by 2029, growing at a CAGR of 4.81% during the forecast period (2024-2029).

Key Highlights

• Due to rising health and wellness trends, consumers, especially fitness enthusiasts, gravitate toward ready to drink beverages with functional benefits. Functional ready to drink beverages are a good source of antioxidants, protein, and probiotics with no to low sugar. Moreover, dairy-free and vegan drinks are increasingly gaining traction among lactose-intolerant people as healthy on-the-go beverages.
• Ready to drink tea will likely be the next functional crowd-pleaser as its various types, like iced tea, herbal tea, black tea, and many more, are introduced to serve the vast consumer base worldwide.
• Moreover, manufacturers are innovating low-calorie products or adding zero-calorie sweeteners like stevia. They are also incorporating herbs and ayurvedic ingredients in the products to increase their functionality. This, along with the increasing diabetic population worldwide, is anticipated to drive the demand for these drinks as an alternative to carbonated beverages.

Ready to Drink Beverages Market Trends

Augmented Expenditure on Advertisement and Promotional Activities Impel Market Growth

• Social media has become a very influential factor in deciding the purchasing behavior of consumers across the world. Hence, the enhanced promotions of ready-to-drink beverages like energy & sports drinks, packaged juices, and other types of beverages on different social media channels further support market growth.
• Leading brands, such as Tropicana and Dole, among others, turned to social media platforms in recent years, such as Facebook, Instagram, and YouTube, to engage their consumers through promotional campaigns.
• Social media platforms also help expand the reach of smaller companies or start-up brands, which need more marketing budgets or, in some cases, even an offline presence. These brands also focus on sharing their narrative and ideology, along with a detailed description of the ingredients used in their products and sources, with potential consumers, creating a sense of transparency and awareness, which helps attract a more extensive consumer base.

Asia-Pacific Dominates the Industry

• The growing population in the region, the rising health consciousness among individuals, and the increasing per capita income are some major factors driving the demand for ready to drink beverages in the Asia-Pacific region. Moreover, energy drinks with less sugar and natural components are expected to thrive and keep drawing the interest of more people suffering from medical issues like diabetes.
• According to the International Diabetes Federation, in 2021, around 140.87 million people suffered from diabetes in China. Due to the rising incidence of lifestyle diseases, consumers opt for naturally sweetened or sugar-free ready-to-drink beverages.
• The companies are introducing innovative products to maintain competitiveness in the market. For instance, in 2021, Danone India launched AptaGrow, claiming it is a scientifically designed, ready to drink health drink for children with 37 nutrients and prebiotics. Moreover, the players in the region focus on expanding their distribution channels and developing unique products with lucrative packaging styles.

Ready to Drink Beverages Industry Overview

The Coca-Cola Company, PepsiCo, Danone, Monster Beverage Corporation, Red Bull GmbH, and Nestlé S.A. are leading players operating in the ready to drink beverages market. Companies are focusing on the sustainability of products and mergers and acquisitions to strengthen their supply chain and expand their business. The emerging smart advertisements and other marketing activities by manufacturers coupled with products launched with functional benefits have further increased the sales percentage of companies globally.

Additional Benefits:

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