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.
For full research report on Ready to
Drink Shakes Market visit here: 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.
Get request sample of this report here: https://www.grandviewresearch.com/industry-analysis/ready-to-drink-rtd-shakes-market/request/rs1
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
- U.S.
- Europe
- Germany
- U.K.
- Asia Pacific
- India
- China
- 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.
For more info visit @ https://www.grandviewresearch.com
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