Market Outlook
Ready to drink Protein Market are generally packaged beverages, which are ready for consumption and are sold in prepared form. Unlike other beverage powders, mixes, and brew-it-yourself coffee or tea products, ready-to-drink beverages can be consumed immediately upon purchase. Vegetable smoothies, canned or bottled ice tea, energy drinks, yogurt drinks, and others are ready-to-drink products. The global ready-to-drink protein shakes, as per a report by Market Research Future (MRFR) The global ready-to-drink protein beverage market is projected to grow at a CAGR of 5.5% during the forecast period.
The surging awareness and growing interest to lead a healthy lifestyle among the global population are considered one of the key factors contributing to the market growth. The demand for healthy ready to drink protein Market products has increased due to the changing lifestyle and surging demand for convenience food and beverages. Several weight loss diet trends and health awareness are likely to encourage the adoption and sales of herbal and fruit tea in the foreseeable future.
Health deterioration, owing to insufficient exercise and busy lifestyle and the rising prevalence of obese population are some of the major factors behind the rising number of individuals adopting a healthy lifestyle. Ready to drink coffee is considered an excellent source of instant energy is becoming prominent, especially among the young population. Also, increasing health awareness has influenced the youngsters to involve into gymming, sports, and other physical activities, which has further encouraged the adoption of ready to drink items globally.
Competitive Dashboard Analysis
The top players operating in the protein supplement industry include Fuze Beverage (U.S.), PepsiCo (U.S.), Nestlé (Switzerland), Coca-Cola (U.S.), Kraft Foods (U.S.), Nestlé (Switzerland), Campbell Soup Company (U.S.), Kraft Foods (U.S.), Red Bull GmbH (Austria), and Ocean Spray (U.S.).
Segmental Analysis
The ready to drink protein Market has been segmented on the basis of type, packaging, and distribution channel.
Based on the type, the market is segmented into sports drinks & energy drinks, probiotic drinks, tea & coffee, fruit & vegetable juices, dairy & non- dairy beverages, and others. Of these, the fruit & vegetable juices segment is predicted to dominate the market globally. The surging awareness regarding health has resulted in the growth of probiotic drinks.
By packaging, the market is segmented into tetra pack, bottle, tin can, sachet, and others. Of these, the bottle segment is expected to dominate the market. However, the tetra pack segment will garner the highest CAGR owing to the rising awareness regarding several health benefits as tetra pack is hygienic.
The distribution channel comprises store-based and non-store-based. Of these, the store-based distribution channel will gain prominence due to the one-stop shopping experience.
Regional Analysis
Geographically, the ready-to-drink protein Market has been segmented on the basis of Europe, North America, Asia Pacific, and the Rest of the World (RoW).
Considering the global scenario, Europe is considered to command the largest share in the global market. European people are always considered health-conscious. The fast life in the region has influenced the adoption of ready-to-drink and food items. The biggest markets in Europe are Germany, France, Spain, Italy, and the U.K.
The Asia Pacific will show considerable growth in the foreseeable future due to the changing consumption pattern, ongoing weight loss diet trend, increasing pubbing culture, and rising disposable income. The growth in the working-class population, coupled with the rising demand for on-the-go products in India and China will contribute to the market growth in the coming years.
The market growth in North America is mainly driven by economies like Canada and the U.S. due to the surging demand for ready to drink coffee and tea. Surging health awareness among the population is one of the major concerns for the market growth. Moreover, manufacturers involved in this market are constantly introducing new flavors in order to capture a greater market share. This is estimated to influence the regional market growth in the coming years.
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