Ready to Drink Market Demand, Revenue, Value, Share, Size, Technological Developments, Leading Regions, Future Growth Strategies 2023
Ready to drink market has witnessed an impressive growth over the last few years. In recent years, owing to shifting consumption pattern, customers are wanting improved options from brands which has developed the beverages industry to adjust this trend. Ready to Drink is one of the recent trends which is gaining traction both in the developed & developing economies. Ready to drink tea and coffee are widely getting huge acceptance owing to the fast & busy lifestyles of the consumers and, it’s perceived as a substitute of carbonated beverages.
Global Manufacturers are promoting their new products in various campaign to increase the customer base. Also, the growth of the Ready to drink market is attributed to the rising café cultures in the developing economies of Asia Pacific region. Product innovations supported current trends and consumers’ demand and product sustainability became the main attention for Ready to drink manufacturers. Key manufacturers put more emphasis on the quality product to meet the criteria for Ready to drink products. Also, the manufacturers are focusing in the new Ready to drink products which is having high shelf life.
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Major Key Players Strategy:
The key players profiled in Ready to Drink Report are
- Fuze Beverage (U.S.),
- Coca-Cola (U.S.),
- Nestlé S.A. (Switzerland),
- Campbell Soup Company (U.S.),
- PepsiCo (U.S.),
- Red Bull GmbH (Austria) and
- Ocean Spray (U.S.) among many others.
Market players in Ready to Drink Market are focusing in the merger & acquisition activities to enhance the product portfolio in Ready to drink products. Also, merger & acquisition will aid the organization to increase distribution channel of the company. Key manufacturers are entering into a collaboration with online selling companies to increase the number of consumers. Collaboration will help the manufacturers to increase the brand value. Ready to Drink manufacturers are promoting their products in the various online channels to upsurge the volume sales. Key players in the global Ready to Drink market, is inclined to introduce new products in the market or to extend the product line of renowned product. Also, the company promotes their new products on social media to reach many customers. This promotional strategy aids to retain the existing the customers and to acquire new customers.
Latest Industry Updates:
Oct 2017 Starbucks has launched three types of bottled coffee drinks
June 2017 Coca-Cola Company has launched ready-to-drink coffee in Japan
Apr 2017 Hamdard Laboratories India has come in the Ready to drink market by introducing ‘RoohAfza Fusion’. The product has been launched in the aseptic packaging format.
Sept 2016 Dunkin’ Brands Group, Inc. has launched its Ready to drink coffee in the U.S. to cater the huge demand of Ready to Drink in North America region
Global Ready to drink market has been divided into Type, Packaging, Distribution Channel and Region
Based on Type: Probiotic drinks, Sports drinks & energy drinks, Fruit & vegetable juices, Tea & coffee, Dairy & non- dairy beverages, and others
Based on Packaging: pouches, can, Bottle and others
Based on Distribution Channel: Food retail (Supermarkets & Hypermarkets, Convenience Stores, Specialty retailers and others), and Food service
Based on Region: North America, Europe, Asia Pacific, and Rest of the World
Global Ready to Drink Market is segmented by region which comprises of Europe, North America, Asia Pacific and Rest of the World. Among all the regions, North America region is accounting for significant market share in global Ready to drink market and it is expected to retain its dominance throughout the forecast period of 2017-2023. The growth of the Ready to Drink in North America region is anticipated to be driven by the various factors. Increasing consumer inclination towards the “on-the-go” lifestyles of the consumers. Also, the new product launch by the key players is anticipated to fuel the sales of Ready to Drink in the North America region during the forecast period.
The U.S. is estimated to retain its dominance in the North America region. Europe is also estimated to account for the 30% market proportion in the global Ready to drink market in the year of 2018. Among the European countries, Germany & France are collectively accounting for 40% market share in the European region. However, Asia Pacific region is projected to expand at a high pace during the forecast period. Increasing disposable income of the consumers along with busy lifestyles of the consumers are anticipated to drive the sales of Ready to Drink in the Asia Pacific region.