Ready-to-Drink Beverages Market Demand, Trends and Competitive Landscape Forecast 2022-2032

Overview of Global Ready-to-Drink Beverages Market

Ready-to-drink beverages are packaged flavored/carbonated drinks, which are available for direct consumption in the market. The convenience and instant nature offered by ready-to-drink beverages are some of the key drivers for the ready-to-drink beverages market globally. Furthermore, changing consumer preferences and hectic lifestyles are other factors that are shaping the market for ready-to-drink beverages. In addition, the global sales of RTD tea and coffee account for approximately 40% of the overall ready-to-drink beverage sales.

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Varied Flavor Offerings in Ready-to-drink Coffee Drive Market for Ready-to-Drink Beverages

Coffee is an important beverage in almost every region, due to its soothing and savory taste, rich smell, and caffeine content, and is consumed by almost every age group. The energy benefits offered by this drink is also luring elderly population, due to their similar taste to tea and coffee. Thus, along with its instant nature, the familiarity in the taste offered by ready-to-drink coffee acts as another driving factor for the growth of its market.

The growth opportunities in the RTD beverages market can also be attributed to the diverse range of popular and liked flavors offered by companies. The demand for flavors in various products has grown rapidly, and continues to grow at a significant rate, with more number of consumers experimenting with food & beverages, and new tastes and flavors. Moreover, different types of coffees are available in RTD coffee products, such as mocha, latte, espresso, cappuccino, etc., thus catering to and fulfilling regional tastes, specific likings and needs of consumers belonging to different regions.

Furthermore, the addition of exotic flavors in the product portfolio will be one of the key strategies adopted by manufacturers to attract the attention of consumers.

In 2018, the popular coffee product Nescafe Gold of the company Nestlé SA was re-launched with enhanced flavors and aroma, and a soluble blend of Arabica coffee

In 2018, High Brew Coffee announced the launch of its newest innovation of ready-to-drink cold brew coffee - 'the sparkling cold brew', in three flavors, namely, vintage vanilla, classic black, and midnight mocha

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Increase in Demand for Flavored Tea in RTD Beverages

The freedom of choice for multiple flavors of tea at any given time is an attractive point of consideration for consumers. RTD drinks allow consumers to choose from multiple tea flavors, which include locally available teas and exotic overseas flavors.

In the U.S. and Canada, getting RTD tea that includes tea concentrates from China and India is a real treat for consumers. In addition, real flavors of fruits and berries are added to the tea. This makes an attractive selling point for manufacturers and creates curiosity among individuals to try new flavors, which is anticipated to increase the demand for flavored tea in the near future.

For instance, various companies are offering a wide range of RTD tea flavored with honey and fruit-based flavors which include mango, raspberry, peach, etc.

Rise in Demand for Carbonated Soft Drinks in Global Market

Based on product type, the carbonated soft drinks (CSDs) segment holds key stake of approximately 28% of the global ready-to-drink beverages market. The market for carbonated drinks is expected to grow at a value CAGR of 5.3% over the forecast period. Consumers are shifting toward the calorie-fueled beverages such as CSDs, which is one of the leading product types of liquid refreshment beverage market across the globe. Furthermore, carbonated soft drinks comes in a wide range of flavors and types that provide leverage to the consumers to choose according to their taste, likings, culture, and needs, which would drive the market for ready-to-drink beverages.

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Business to Business Sales Potential of RTD Beverages for Market Players

The consumption of ready-to-drink beverages through business to business sales channel is currently valued at US$ 18 Bn and is growing at a CAGR of 6.1%. The sales are fueled by the increasing incidences of eating out and social gatherings. The post-pandemic influence on the foodservice sector is proving profitable for the ready-to-drink beverage manufacturers. With promising sales growth potential, the market is expected to cross US$ 32.5 Bn by the end of 2032.

Regional Outlook of Global Ready-to-Drink Beverages Market

Europe holds majority value share of approximately 25% of the global ready-to-drink beverages market in 2022. The highest demand for ready-to-drink products arises from millennials and their higher preference toward specialized flavored drink products. Furthermore, the European market for ready-to-drink beverages is anticipated to grow at a volume CAGR of 6.9% over the forecast period.

South Asia and East Asia are likely to hold significant volume shares of the ready-to-drink beverages market in 2022. Owing to the high population growth rate, increasing disposable income of consumers and high per capita consumption of ready-to-drink beverages during the forecast period in both the regions are expected to drive the market at volume CAGRs of 7.4% and 6.9%, respectively.

The Oceania market for ready-to-drink beverages is projected to grow at a value CAGR of 5.1% during the forecast period, and it is poised to exceed US$ 12 Bn by the end of 2032.

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Analysis of Key Players in Global Ready-to-Drink Beverages Market

The global ready-to-drink beverages market is moderately consolidated with a few large players dominating the marketplace. Key players that are engaged in the production of ready-to-drink beverages are engaging in innovations and new product development for the diversification of their portfolios. Furthermore, manufacturers are focused on establishing production facilities and focusing on strategic acquisitions of local players in various countries to increase their global footprint. Asahi Group Holdings, Ltd., PepsiCo Inc., The Coca-Cola Company, Nestlé S.A., Kraft Heinz Foodservice, Suntory Holdings Limited, Gehl Foods, LLC, O-AT-KA Milk, William B. Reily and Company, Inc., and Danone S.A. are the prominent players operating in this market.

Each of these players have been profiled in the ready-to-drink beverages market report based on parameters such as company overview, financial overview, business strategies, product portfolio, business segments, and recent developments.

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