RTD beverages market expected to reach $141.85bn by 2029
The ready-to-drink (RTD) beverages market was valued at $89billion in 2021 and is expected to reach a value of $141.85 billion by 2029, at a CAGR of 6.00%, by 2029, according to Data Bridge Market Research.
RTD beverages are packaged beverages that are sold in a ready-to-drink state. Ready-to-drink beverages, as opposed to traditional beverage mixes, powders, or brew-it-yourself tea or coffee products, can be consumed immediately after purchase.
RTD beverages include bottled or canned ice tea, coffee, fruit or vegetable smoothies, energy drinks, yoghurt drinks, and alcopops (ready-made alcohol cocktails).
The global ready-to-drink (RTD) beverages market has undergone a number of changes in recent years, and the scenario is expected to remain the same in the coming years.
This market is expected to grow significantly in the forecast period of 2022 to 2029 due to an increasing base of young people, particularly in developing economies, as well as an increase in consumer purchasing power.
Aside from that, growing demand for processed food and beverages is expected to benefit this market in the near future.
The increasing prevalence of serving ready-to-drink (RTD) beverages as a side drink in various fast food joints and cafes is also a factor driving global market growth. Rising consumer demand for low sugar and diet ready-to-drink (RTD) drinks as a result of increased adoption of a healthy lifestyle is another factor driving growth in the global ready-to-drink (RTD) beverage market.