The estimated revenue generated from the global ready-to-drink shakes market is US$ 9 Bn in 2019, and is projected to reach US$ 16 Bn by 2028. The market is therefore projected to rise at a CAGR of ~6 % between 2020 and 2028.
Globally, functional drinks are sought after for their high protein content and their demand is likely to rise steadily over the forecast period. A key factor resulting in increasing consumption of functional drinks is the increase in the consumer spending power, especially in developing nations. Ready-to-drink shakes which constitute a category of functional drinks are available in various flavours for retail sales in the global market. Some of these flavours are chocolate, banana, strawberry, among others. The global market of ready-to-drink shakes is analyzed on the basis of various flavours. These products are available for sale in different packaging forms, like bottles, tetra packs/cartons, and cans, which offers heightened convenience. Ready-to-drink shakes are meeting the current health and wellness demand in such a way that the drinks offer high protein amount with added specialty health ingredients.
Key takeaways from the ready-to-drink shake market study
- Obesity is one of the strong issues faced by countries such as the U.S., Canada, Australia, U.K., etc. Ready-to-drink shakes are consumed as a meal replacement to achieve the weight management by restricting the calorie intake.
- Due to the increased prevalence of the diseases and subsequently rising trend of health and wellness, ready-to-drink shakes market is expected to witness positive growth over the forecast period.
- Ready-to-drink shakes are being increasingly opted by fitness enthusiasts and athletes, since it allows avoiding the hassle of the mixing of protein powder in the liquid of choice and also the wait.
- Although, ready-to-drink shakes promise excellent results for gym goers and fitness enthusiasts, the product is still in the introductory phase in developing economies and economies are in transition stage. Therefore, because of the premium nature of the product and its expensive price, the market penetration may get hindered in emerging countries.
“Ready-to-drink shakes market is expected to channel upwards due to the excellent marketing strategies of the key players in the global market, resulting in the positive growth in the emerging markets,” says the report analyst.
Easy availability and increasing penetration of manufacturers and sellers of ready-to-drink shakes to positively Impact growth
Due to the increase in the preference for e-commerce platforms for transaction and shopping, the market reach out of the ready-to-drink shakes is anticipated to increase in the developed and developing economies. The boom in the IT sector has led to the development of the various new and easy ways of the transactions and shopping across various domains. The food and beverage industry is also driven by the increased use of the e-commerce platforms, since consumers have top priority for convenience and ease of doing business. Likewise, e-commerce platforms have enthralled the potential buyers of ready-to-drink shakes due to the easy and increased availability of the products, even in remote areas. Ready-to-drink shakes sales across e-commerce platforms are anticipated to rise over the forecast period and likely to be one of the drivers of the market growth.
Who is winning?
Some of the key players operating in the Ready to Drink Shake market are Nestlé S.A, Starbucks Corporation, PepsiCo Inc., Monster beverage Co., Lotte Chilsung Beverage Co., The Coca-Cola Company, The J.M Smucker Company, Bolthouse Farms, Inc., Arla Foods amba, Atkin Nutritionals Inc. and others.
These insights are based on a report on Ready to Drink Shake Market by Future Market Insights.