Ready To Drink Shakes Market Growth & Trends
The global ready to drink shakes market size is expected to reach USD 14.77 billion by 2030, expanding at a CAGR of 6.1% over the forecast period. Growing consumer awareness regarding healthy living lifestyles at the global level is a major factor boosting the market growth. Growing beverage industry on account of consumer inclination towards organic food and drinking mainly in developed countries is further expected to drive the market.
Increasing expenditure on health and wellness among the millennial population is also influencing the market significantly. A large number of health conscious millennials consume ready-to-drink (RTD) protein shakes as a part of their daily diet. Manufacturers are introducing different types of such beverages by understanding the requirement of the consumer. For instance, Nature’s Best, a U.S.-based company, offers six different types of RTD shakes. Growing vegan population is driving manufacturers to offer pure plant-based products. For instance, a U.S. based manufacturer, Zevia offers different kinds of vegan ready to drink shakes such as watermelon, milk shake, and mango ginger energy drinks.
Tetra pack is expected to be the fastest growing packaging type with a CAGR of 5.9% from 2019 to 2025. Increasing consumer awareness about the drawbacks of the plastic packaged products is a key factor contributing to the segment growth. Moreover, it is gaining popularity among consumers as it’s an on-the-go product. Manufacturers are also increasing the production of tetra packed products due to their cost effectiveness. Various governments also provide tax saving policies to tetra packed products as they are environment-friendly. Some of the key players operating in the market are Labrada; Vega (U.S.); and CytoSport, Inc.
Supermarkets and hypermarkets emerged as the largest distribution channel in 2018 and accounted for 54.3% share in the global market. Availability of a wide range of product line is a major factor driving the consumer to purchase from supermarkets and hypermarkets. It has been observed that around 37% of the consumers prefer these channels due to availability of fresh products. The online category is the fastest growing category. Consumers are shifting their preference towards online purchase due to convenience of doorstep delivery services.
North America is the largest consumer in the market and the region accounted for more than 30% share of the overall revenue in 2018. It has been observed that around 40% of the U.S. population consume RTD shakes as a replacement of their breakfast and over 55% prefer ready to drink shakes as a replacement of their meals. Asia Pacific is expected to grow at the fastest pace from 2019 to 2025. Growing consumer preference for healthy food and beverage and increasing disposable income of consumers in developing countries are driving the market in the region.
The Ready to Shakes market is competitive in nature due to the presence of many small and large players. Some of the major companies operating in this market are Nutrineo; CytoSport, Inc.; Vega (U.S.); Nature’s Best; OWYN; PREMIER PROTEIN; AMERPHARMA; Huel; and Soylent.
Ready To Drink Shakes Market Report Highlights
- Based on packaging type, The tetra pak segment dominated the market and accounted for a revenue share of 48.4% in 2023 and is expected to grow during the forecast period.
- On the basis of distribution channel, The supermarkets & hypermarkets segment dominated the market and accounted for a revenue share of 48.4% in 2023 and is expected to grow rapidly during the forecast period.
- North America dominated the global ready to drink shakes market with a revenue share of 31.9% in 2023. The ready to drink shakes market in the U.S. dominated the North America market in 2023.
- Asia Pacific ready to drink shakes market is anticipated to witness the fastest CAGR in the coming years.
- Various manufacturers are concentrating on new product launches, capacity expansion, and technological innovation to estimate existing and future demand patterns from upcoming product segments.
Why should you buy this report?
- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players worldwide.
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
- COVID-19's impact and how to sustain in these fast-evolving markets
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Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Ready to Drink Shakes Market Variables, Trends, & Scope
Chapter 4. Ready to Drink Shakes Market: Packaging Estimates & Trend Analysis
Chapter 5. Ready to Drink Shakes Market: Packaging Estimates & Trend Analysis
Chapter 6. Ready to Drink Shakes Market: Regional Estimates & Trend Analysis
Chapter 7. Competitive Landscape
Companies Mentioned
- BELLRING BRANDS, INC. (BRBR)
- Nestlé S.A.
- PepsiCo
- Vega
- Starbucks Coffee Company
- OWYN
- Soylent
- Atkins Nutritionals, Inc.
- Bolthouse Farms, Inc.
- Huel Inc.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 80 |
| Published | August 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 9.81 Billion |
| Forecasted Market Value ( USD | $ 14.77 Billion |
| Compound Annual Growth Rate | 6.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
