RTD Beverages Market to Reach $1,582.7 Billion by 2031 - Exclusive Report by Meticulous Research®

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May 06, 2024, 10:10 ET

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
- U.S.
- Canada
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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