Global Ready-to-Drink Beverages Market to Reach US$ 402.0 Billion by 2032, Impelled by Increasing Popularity of On-the-Go Beverages

May 26, 2023 | Food & Beverages

According to the latest report by IMARC Group, titled "Ready-to-Drink Beverages Market Report by Product Type (RTD Tea, RTD Coffee, Energy Drinks, Yogurt Drinks, Dairy-based Beverages, and Others), Packaging (Bottles, Tetra Pack, Sachet, Tin Can, and Others), Distribution Channel (Business to Business (Foodservice), Business to Consumers), and Region 2024-2032," the global ready-to-drink beverages market size reached US$ 225.0 Billion in 2023. Ready-to-drink beverages, or RTDs, refer to pre-packaged and conveniently available beverages that are specifically designed to be consumed without any additional preparation or mixing. RTDs, which are frequently accessible in bottles, cans, or cartons, provide a practical and transportable way to relieve thirst while on the go. To meet consumers' various tastes and requirements, they are available in a broad range of flavors, varieties, and formulas. RTDs can be stored in freezers and pantries for an extended period of time and are portable for picnics, trips, and social occasions. They also cater to consumers seeking low-sugar, low-calorie, or plant-based substitutes, by serving various dietary preferences and requirements.

Global Ready-to-Drink Beverages Market Trends:

The escalating demand for convenient food items majorly drives the global market. This can be supported by the growing product utilization among the working population as it provides instant solutions while eliminating the need for measuring, mixing, or brewing. In confluence with this, the increasing consumer inclination toward on-the-go beverages, such as bottled iced coffee, pre-packaged smoothie, or canned energy drink, over traditional beverage alternatives, are significantly supporting the market. In addition, the rising health consciousness among the masses is positively influencing the market. Consumers are seeking healthier options that align with their dietary preferences, such as low-sugar, natural, organic, or functional beverages. Therefore, it is encouraging manufacturers to offer RTD beverages catering to specific health needs, including plant-based alternatives, protein drinks, and vitamin-infused waters, which are acting as another growth-inducing factor. Apart from this, the increasing investments in advertising campaigns, social media promotions, and influencer collaborations for creating awareness, generating consumer interest, and building brand loyalty are strengthening the market. Furthermore, the introduction of new flavors, formulations, and packaging options to cater to evolving consumer preferences is creating a positive market outlook. Some of the other factors driving the market include rapid urbanization and inflating disposable income levels of the masses. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 402.0 Billion by 2032, exhibiting a growth rate (CAGR) of 6.66% during 2024-2032.

Market Summary:

  • On the basis of the product type, the market has been divided into RTD tea, RTD coffee, energy drinks, yogurt drinks, dairy-based beverages, and others. Among these, RTD tea represents the largest market segment.
  • Based on the packaging, the market has been segmented into bottles, tetra pack, sachet, tin can, and others. Presently, bottles account for the largest segment.
  • On the basis of the distribution channel, the market has been divided into business to business (food service) and business to consumers (supermarkets and hypermarkets, convenience stores, specialty stores, online stores, and others). Currently, business to consumers exhibit a clear dominance in the market.
  • Region-wise, the market has been segmented into North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. At present, Asia Pacific holds the leading position in the market.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Asahi Group Holdings Ltd., Brown–Forman Corporation, Keurig Dr Pepper Inc., Nestle S.A., O-AT-KA Milk Products LLC, PepsiCo Inc., Red Bull GmbH, Suntory Holdings Limited, and The Coca-Cola Company.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Product Types Covered RTD Tea, RTD Coffee, Energy Drinks, Yogurt Drinks, Dairy-based Beverages, Others
Packagings Covered Bottles, Tetra Pack, Sachet, Tin Can, Others
Distribution Channels Covered
  • Business to Business (Foodservice)
  • Business to Consumers: Supermarkets and Hypermarkets, Convenience Stores, Specialty Stores, Online Stores, Others
Regions Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Asahi Group Holdings Ltd., Brown–Forman Corporation, Keurig Dr Pepper Inc., Nestle S.A., O-AT-KA Milk Products LLC, PepsiCo Inc., Red Bull GmbH, Suntory Holdings Limited, The Coca-Cola Company, etc.
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Global Ready-to-Drink Beverages Market to Reach US$ 402.0 Billion by 2032, Impelled by Increasing Popularity of On-the-Go Beverages
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