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Ready-to-drink Beverage Market is Expected to Continue Growing Moderately Over the Next Decade, with an Estimated Value of US$ 430.30 Billion by 2034 | Future Market Insights, Inc.

Thursday, April 18, 2024 08:30 PM | GlobeNewswire via QuoteMedia

Ready-to-drink Beverage Market is Expected to Continue Growing Moderately Over the Next Decade, with an Estimated Value of US$ 430.30 Billion by 2034 | Future Market Insights, Inc.

Conventional ready-to-drink beverages are expected to constitute approximately 80.50% of the global market, securing a dominant share. Although there is increasing consumer demand for organic options within this category, conventional products are anticipated to retain their leading position worldwide, largely due to their affordability and widespread availability.

NEWARK, Del, April 18, 2024 (GLOBE NEWSWIRE) -- The ready-to-drink beverage (RTDs) market value is expected to rise from US$ 206.25 billion in 2024 to US$ 430.30 billion by 2034. This market is analyzed to propel ahead at a CAGR of 7.60% over the next decade.

Industry players are strategizing for growth by increasing their college campus presence via nutrition-promoting programs. In addition, players are progressively working with collegiate sports programs and NIL athletes to give a boost to their brand awareness and promote product affinity.

With growing busy consumers in metropolitan cities, RTD beverage brands are promoting themselves as a lifestyle brand. These brands attune their products to consumers' values, like freedom, wellness, and authenticity, to sell their products.

Key players offering energy RTDs, like the America-based Celsius, are building a strong foundation of loyal customers, typically found within the fitness community who increasingly consume energy boosters. Customers for these brands are gravitating toward their brands’ offerings because of the authenticity and support that they extend to fit lifestyle culture.

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Energy RTD beverages make for a great gym partner, study partner, and get-through-your-shift partner as they quench thirst and give an instant surge of energy. Another noted driver for the energy drinks category under the RTD industry is that functional drinks can be paired with meals and food as they taste appetizing, that too without containing sugar content.

The alcoholic ready-to-drink beverage is also gaining momentum in developed and developing countries alike. Their sales are supported by increasing tourism activities and the expanding trend of celebrating everyday moments, packed in a convenient and portable bottle. The growth of alcoholic RTDs in developing countries is a testament to shifting consumer preferences.

“Key players are expanding their presence the world over, by gradually expanding their operations and searching for opportunities and demand outside their homeland. Additionally, players who are agile in responding to the latest consumer preferences and trends are expected to have an advantage over their peers,” says Nandini Roy Choudhury , Client Partner at Future Market Insights.

Key Takeaways from the Ready-to-drink Beverage Market Report

  • The ready-to-drink beverage market share was US$ 150.92 billion in 2019. From 2019 to 2023, the market registered a CAGR of 7.10%.
  • By product type, the coffee segment is predicted to occupy a value share of 21.5% in 2024.
  • Based on nature, the conventional segment is expected to exercise dominance in the global market, obtaining an 86.5% share in the market.
  • Regionally, the consumption patterns indicate that demand for ready-to-drink beverages is expected to be higher in emerging countries than in developed markets.

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Latest Developments in the Global Ready-to-drink Beverage Market

  • In November 2023, Kirin Hyoketsu, Japan’s best-selling RTD, made its way to New Zealand. The beverage brand made its Kiwi debut with signature Lemon flavour which is a blend of soda, vodka, and frozen natural lemon juice.
  • In October 2022, Radico Khaitan introduced ready-to-drink options for the vodka brand. In the years to follow, the company shared that it was going to produce three variants, including cola, cosmopolitan, and mojito. At present, the products are sold in Karnataka, followed by Maharashtra, Goa, and Daman & Diu.
  • In December 2023, Coca-Cola India announced the testing of Lemon-Dou in India, which is a ready-to-drink alcoholic beverage.

Enlisted Below are Some Top Market Players

  • Diageo plc
  • Brown-Forman
  • Bacardi Limited
  • Asahi Group Holdings, Ltd.
  • Pernod Ricard
  • Halewood Wines & Spirits
  • Suntory Holdings Limited
  • Manchester Drinks Company Ltd.
  • Anheuser-Busch InBev
  • Others

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Market Segmentation of Ready-to-drink Beverage Products

By Product Type:

  • Tea
  • Coffee
  • Energy Drinks
  • Yogurt Drinks
  • Dairy-based beverages
  • Non-Dairy Based Beverages
  • Fortified Water
  • Others

By Nature:

  • Organic
  • Conventional

By Packaging:

  • Bottle
  • Tetra Pack
  • Sachet
  • Tin Can
  • Others

By Distribution Channel:

  • Supermarkets/Hypermarkets
  • Convenience Stores
  • Grocery Stores
  • Speciality Stores
  • Online retail

Different Regional Markets are as Follows:

  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • Latin America

Authored by:

Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.

She has exceptional analytical skills and often brings thought leadership to the table.

Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.

Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.

Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.

Explore FMI’s related ongoing Coverage in the Food and Beverage Domain:

The global ready-to-drink beauty beverage market is predicted to be valued at US$ 1,956.9 million in 2024 and is set to reach US$ 4,428.5 million by 2034.

The ready-to-drink (RTD) tea market is capturing a valuation of US$ 34.3 billion in 2023 and is projected to reach US$ 72.9 billion by 2033.

The pre-mixed/RTD alcoholic drink market is estimated to be valued at US$ 35,321.40 million in 2024. The pace of progress for the market from 2024 to 2034 is expected to be normal, with a CAGR of 4.8%.

The RTD canned cocktail market is expected to thrive at a 6% CAGR from 2023 to 2033. According to projections, the RTD canned cocktail market is estimated to increase from US$ 18.822 billion in 2023 to US$ 33.247 billion by 2033.

The global Low-calorie RTD Beverages market is expected to reach a market valuation of USD 25,708.74 Million by the year 2023, accelerating with a CAGR 5.7% by 2023 to 2033.

The RTD bottled cocktails market is expected to be valued at US$ 16,073.1 Million in 2022 and is projected to grow at a CAGR of 10.9% during the forecast period (2022 to 2032).

The global RTD cocktail market is estimated to be worth US$ 35,321.4 million by 2024. The market is projected to reach a value of US$ 56,652.7 million by 2034, expanding at a CAGR of 4.8% from 2024 to 2034.

The overall sales in the RTD cocktail shots market are expected to increase at a CAGR of 10.0% to reach the value of US$ 9,633 Million in 2032.

The Energy Drink Market valuation to a staggering US$ 38,300 million in 2024. By 2034, it is slated to surpass US$ 64,876 million at a 5.40% CAGR.

In 2023, the global almond drink market was valued at US$ 4,719.5 million. The market is expected to reach approximately US$ 7,751.1 million by 2033, with a growing CAGR of 5.1% from 2023 to 2033.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact FMI:

Nandini Singh Sawlani
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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