The global ready to drink shakes market size is expected to reach USD 12.1
billion by 2025, according to a new report by Grand View Research, Inc.,
expanding at a CAGR of 5.7% 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.
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https://www.grandviewresearch.com/industry-analysis/ready-to-drink-rtd-shakes-market
https://www.grandviewresearch.com/industry-analysis/ready-to-drink-rtd-shakes-market
Further key findings from the study suggest:
· Based on packaging type, tetra packs are
projected to expand at a CAGR of 5.9% over the forecast period
· On the basis of distribution channel,
supermarkets and hypermarkets dominated the market with an overall share of
54.3% in 2018
· North America led the market in 2018 and
constituted 32.2% share of the overall revenue. This trend is projected to
continue over the next few years
· The market in Asia Pacific is anticipated
to witness growth due to increasing disposable income of consumers in India,
South Korea, China, and Japan
· Various manufacturers are concentrating on
new product launches, capacity expansion, and technological innovation to
estimate existing and future demand patterns from upcoming product segments.
Grand View Research has segmented the
global ready to drink shakes market on the basis of packaging type,
distribution channel, and region:
RTD Shakes Packaging Type Outlook (Revenue,
USD Billion, 2015 - 2025)
·
Bottles
·
Cans
·
Tetra Packs
RTD Shakes Distribution Channel Outlook
(Revenue, USD Billion, 2015 - 2025)
·
Supermarkets & Hypermarkets
·
Convenience Stores
·
Online
RTD Shakes Regional Outlook (Revenue, USD
Billion, 2015 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports,
customized research reports, and consulting services. To help clients make
informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
