The global ready-to-drink (RTD) beverages market size will gain momentum on account of rising awareness for fitness and healthcare. Fortune Business Insights, in its latest report, titled, “Ready-to-drink (RTD) Beverages Market Size, Share Industry Analysis, By Product Type (Flavored Milk, Yoghurt, Tea, Coffee, Fruits Vegetable-based Drinks, Flavored Fortified Water, Others), By Distribution Channels (Supermarket/Hypermarket, Specialty Stores, Convenience Stores, Online Retails) Others and Regional Forecast, 2022-2029.”, states that the manufacturers launching new products to cater to the changing behavioral pattern of the consumers will drive the growth of the market during the forecast period.
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Ready-to-drink (RTD) beverages are referred to those beverages that are packaged and ready to consume instantly. Unlike, other beverages that need to be mixed, heat, or powdered to drink, RTD beverages can be consumed by the people immediately once purchased from the supermarket. Some examples of RTDs include health drinks, iced tea, soft drinks, cold coffee, and others. Changing consumer drinking habits and growing number of time-strapped consumers are the driving factors for the growth of the market during the forecast period.
What does the Report Include?
The market report offers a detailed assessment of the various market drivers and restraints, opportunities and challenges that will affect the growth of the market during the forecast period. Furthermore, the report provides comprehensive research into the regional developments of the market, affecting the market growth during the forecast period. In addition to this, the report includes information from expert professionals from the industry. Moreover, it contains an exhaustive study of the landscape comprising of key players, strategies used by them, and recent product launches for the market growth between 2019 and 2026.
Drivers and Restraints:
Rising Demand for Convenience Foods to Augur Growth
According to United States Department of Agriculture (USDA), there has been a steep rise in the demand for convenience foods by the U.S. households over the past decades. Charles Mortimar OF General Foods, in 1950s penned down the term convenience foods in the wake of growing demand for food products that could be bought, opened, prepared, and consumed with ease. Furthermore, snacks and fast foods constitute for nearly half of the budget of American consumers. Increasing demand for convenience foods is expected to boost the demand for the market in the forthcoming years. Moreover, health awareness among people will drive the growth of the market during the projected horizon.
Rising Preference for Healthy Drinks to Drive Market in North America
Among the regions, North America is expected to hold a significant share for the market during the forecast period. This is ascribable to factors such as increasing awareness for eating and drinking habits of the people in North America. The market in Europe will register substantial growth owing to rising preference of healthy diet and fit body. On the other hand, Asia-Pacific is anticipated to witness huge growth for the market during the forecast period. This is attributable to factor such as increasing income per capita, and changing lifestyle of people in countries such as China, and India. Overall, the market in Asia-Pacific will contribute to the growth of the market between 2019 and 2026.
Introduction of New Products to Strengthen Demand
According to the report, there are several companies proliferating in the market during the forecast period. Adoption of strategies such as novel product launches and development by these companies will contribute to the growth of the market during the forecast period. For instance, in June 2019, the renowned beverage company, The Coco-Cola Company, in partnership with Costa announced its launch of RTD coffee to cater to the markets of Poland, and China. The companies are striving to gain maximum ready-to-drink (RTD) beverages market revenue during the forecast period.
- January 2019: Nestle S.A., a global health drink provider, announces its launch of two new products. The products include Cold Whipped Lattes and Coffee Protein Smoothies for the people who love coffee and are fitness enthusiasts.
List of the Companies Operating in the Market:
- PepsiCo, Inc.
- Fuze Beverage
- The Coca-Cola Company
- Nestle S.A.
- Gujrat Co-operative Milk Marketing Federation
- Kraft Foods Group, Inc.
- The Campbell Soup Company
- Red Bull GmbH