Ready to Drink (RTD) Market is anticipated to grow at a CAGR of over 7% from 2020 to 2030.
Market Industry Reports (MIR) has published a new report titled “Ready to Drink (RTD) Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020–2030.” According to the report, the global ready to drink (RTD) market is anticipated to grow at a CAGR of over 7% from 2020 to 2030.
Growing urbanization and busy life styles have given rise to the need for on-the-go, convenient, and portable solutions that offer good taste and are aligned with the rising health & wellness trends among populous. As the sale of carbonated beverages continues to decline, people are increasingly looking toward healthier drinks, which offer additional functional benefits. Realizing this trend, companies such as The Coca-Cola Company and PepsiCo are more focused on offering RTDs that cater to these needs of consumers. For instance, Gatorade BOLT24 from Pepsi is infused with electrolytes and antioxidants with no artificial sweeteners or added flavors. Additionally, shift to dual income families and increasing number of working millennial and women workforce is further strengthening the demand for ready to drink products. Additionally, the launch of new flavors in different RTD beverage segments is further strengthening market growth. For instance, in 2019, Mondelez entered the RTD market with the launch of Ruckus and Co, a line of frozen fruit smoothies targeted especially for kids.
With the rising demand for RTD beverages, manufacturers are focused on product and packaging innovations to increase the shelf life of these products without compromising on their taste and quality. For instance, BKON’s new patented technology, RAIN (Reverse Atmospheric Infusion) claims to keep packaged drinks fresh for months and can be used for different products such as tea, coffee, and cocktail, among others. Similarly, the use of UHT technology in RTD beverages, such as milk, is also creating new opportunities for manufacturers.
However, the price volatility of RTD beverage ingredients stands to act as a major market barrier. Additionally, lower consumer awareness and acceptance along with cultural habits in underdeveloped and developing nations with limited product offerings is another challenge in the market. For instance, in countries such as India, where people resort to having tea and coffee being prepared rather than opting for ready to drink coffee or tea is one such factor. Furthermore, the outbreak of COVID-19 is also likely to create manufacturing and logistical issues, which will deter market growth in the coming years.
Browse key industry insights spread across 160 pages with market data tables & figures & charts from the report, Ready To Drink (RTD) Market By Product Type (Tea, Coffee, Juices, Alcoholic Beverages, Energy & Sports Drinks, Bottled Water, Carbonated Soft Drinks, Dairy, and Alternate Dairy Beverages), By Distribution Channel (Supermarkets & Hypermarkets, Specialty Stores, Convenience Stores, and Online)- Global Analysis & Forecast 2020-2030 in detail along with the table of contents:https://www.marketindustryreports.com/ready-to-drink-rtd-market/330
North America and Europe continue to be major markets for RTD beverages owing to wider market acceptance and demand for on-the-go products. Additionally, the presence of key manufacturers in the region offering products with added functional benefits has created more acceptances among consumers. Asia Pacific is expected to witness the fastest growth with the increasing number of women that are working and the rise of nuclear families. Additionally, the entry of new RTD products in the markets will also create growth opportunities as consumers continue to shift towards healthier drinking options. For instance, in 2019, Pepsi and HUL introduced Lipton Ice Tea in the ready to drink beverage segment.
Some of the prominent players in the global ready to drink market are The Coca-Cola Company, PepsiCo, Nestlé, Starbucks Coffee Company., Danone S.A., Keurig Dr Pepper Inc, Unilever, SUNTORY HOLDINGS LIMITED., RED BULL and Vitasoy International Holdings Limited, among others.
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