REDDING,
Calif., May 6, 2024 /PRNewswire/ -- According to a
new market research report titled, "RTD Beverages Market
By Product Type (Alcoholic and Non-alcoholic [Flavored, Tea,
Coffee, Juices, Nectars, Dairy, Soft Drinks, Energy Drinks]),
Packaging Type (Bottles, Cans), Distribution Channel (Supermarkets,
E-commerce) - Global Forecast to 2031", the RTD beverages
market is projected to reach $1,582.7
billion by 2031, at a CAGR of 6.8% during the forecast
period 2024–2031.
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The growth of the RTD beverages market is mainly driven by the
rising consumption of sports & performance drinks, growing
demand for functional beverages, beverage manufacturers' increasing
focus on product innovation, convenience, and easy portability of
RTD beverages, and lifestyle changes leading to the increased
incidence of chronic diseases. However, the high prices of RTD
beverages are expected to hinder the growth of this market.
Furthermore, the growing availability of alcoholic RTD beverages
and the rapid growth of the retail sector are expected to generate
growth opportunities for the players operating in the RTD beverages
market.
The beverages sector is growing rapidly, with a rising consumer
base and an increasing number of people willing to try new beverage
products. Recent innovations in the beverage industry include RTD
health drinks, plant-based beverages, organic drinks, 'low-calorie'
and 'free-from' drinks, sports drinks, and drinks with novel
ingredients. Consumers' growing inclination toward healthier
lifestyles and food choices is driving the demand for functional
RTD beverages, which are non-alcoholic drinks containing
non-traditional ingredients, such as vitamins, minerals, dietary
fibers, amino acids, raw fruits, and probiotics. Sports drinks,
energy drinks, herbal tea, vitamin water, and fruit drinks with
additives are the most commonly available functional beverages.
They are widely consumed to improve health, energy, athletic
endurance, and hydration.
Furthermore, RTD beverage manufacturers are developing products
to cater to consumers' growing health and wellness needs. These
functional RTD drinks are gaining popularity among youngsters,
fitness enthusiasts, and consumers looking for quick nutrition.
Thus, innovation and product development are enabling companies to
increase their revenues, in turn boosting market growth.
In recent years, the global RTD beverages market has witnessed
several product launches, expansions, mergers & acquisitions,
and partnerships, agreements, and collaborations. The key players
operating in the global RTD beverages market are Abbott
Laboratories (U.S.), Nestlé S.A. (Switzerland), PepsiCo Inc. (U.S.), The
Coca-Cola Company (U.S.), Suntory Holdings Ltd. (Japan), Keurig Dr Pepper, Inc. (U.S.), Red
Bull GmbH (Austria), Danone S.A.
(France), The Brown–Forman
Corporation (U.S.), Monster Beverage Corporation (U.S.), AriZona
Beverages USA (U.S.), Gujarat
Cooperative Milk Marketing Federation Ltd. (India), Yakult Honsha Co., Ltd. (Japan), and Asahi Group Holdings, Ltd.
(Japan).
The global RTD beverages market is segmented by product type,
packaging material, distribution channel, and geography.
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Key Findings in the Global RTD Beverages Market
Study:
Among all the product types studied in this report, in
2024, the non-alcoholic beverages segment is expected to account
for the larger share of the RTD beverages market. The segment's
large market share is attributed to the easy availability and
convenience of non-alcoholic beverages, the unrestricted
off-premises sale and consumption of non-alcoholic beverages, the
growing number of health-conscious consumers, and the increased
adoption of functional and plant-based beverages. However, the
alcoholic beverages segment is projected to register a higher CAGR
of 20.8% during the forecast period 2024–2031. The high
growth of this segment is driven by the rising demand for
spirit-based RTD drinks among youngsters, the increasing
consumption of gluten-free RTD beverages, market players' increased
focus on innovation and product development, and the increasing
popularity of RTD alcoholic beverages as lighter alternatives to
beer, and more convenient alternatives to popular hard liquors.
Among all the packaging types studied in this report, in 2024,
the bottled beverages segment is expected to account for the
largest share of 63% of the RTD beverages market.
The segment's large market share is attributed to factors such as
the wide availability of bottled beverages in various shapes,
sizes, and quantities, the convenient consumption, transportation,
and storage offered by bottled beverages, the extended shelf-life
of bottled products, and the cost-effectiveness of bottle
packaging, which translates to the lower market prices of bottled
products. However, the Tetra Pak-packaged beverages segment is
projected to register the highest CAGR during the forecast period
2024–2031. The segment's high growth is driven by the long
shelf-life and attractiveness of Tetra Pak-packaged beverages.
Among all the distribution channels studied in this report, in
2024, the supermarkets & hypermarkets segment is expected to
account for the largest share of 48% of the RTD beverages
market. However, the e-commerce segment is projected to register
the highest CAGR during the forecast period 2024–2031. This
segment's high growth is driven by its wide variety of products,
easy accessibility and affordability, higher discounts compared to
offline stores, and home delivery services provided by e-commerce
platforms.
Based on geography, the global RTD beverages market is majorly
segmented into five regions: North
America, Europe,
Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, North America is expected to account for the
largest share of 31% of the global RTD beverages market. The
North America RTD beverages market is estimated to be worth
USD 309 billion in 2024.
North America's major market share
can be attributed to the well-established packaged drinks market,
high awareness of the health benefits of functional beverages,
growing adoption of alcoholic RTD beverages, and rapid innovation
and development of RTD beverages.
Asia-Pacific RTD beverages market is expected to witness
significant growth more than during the forecast period of
2024–2031. The Asia-Pacific RTD beverages market is projected to
reach USD 515 billion by 2031,
growing with the fastest CAGR of more than 8% during the
forecast period. The growth of this regional market is mainly due
to the rising awareness about the health benefits of functional
beverages, strong demand for herbal and plant-based beverages,
rapid growth in the beverage industry, and growing consumer
interest in trying new beverages. Also, growing population, rapid
urbanization, increasing disposable incomes, and changing
lifestyles in countries such as China and India further support the growth of this
market in the region.
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Scope of the Report:
RTD Beverages Market Assessment—by Product
Type
- Non-alcoholic
- Carbonated Soft Drinks
- Sports & Energy Drinks
- Tea & Coffee
- Juices & Nectars
- Dairy & Dairy Alternatives Beverages
- Flavored & Fortified Water
- Other Non-alcoholic beverages
- Alcoholic
RTD Beverages Market Assessment—by Packaging Type
- Bottled Beverages
- Plastic Bottle
- Glass Bottle
- Canned Beverages
- Tetra Pak-packaged Beverages
- Other Packaged Beverages
RTD Beverages Market Assessment—by Distribution
Channel
- Supermarkets & Hypermarkets
- Convenience Stores
- E-commerce
- Specialty Stores
- Other Distribution Channels
RTD Beverages Market Assessment—by Geography
- North America
- Europe
- U.K.
- Germany
- France
- Spain
- Russia
- Italy
- Netherlands
- Belgium
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Thailand
- Rest of Asia-Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- UAE
- Rest of Middle East &
Africa
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