Ready To Drink Shakes Market size is slated to gain immense potential through 2027, driven by the increasing product demand by fitness enthusiasts and a changing fitness landscape worldwide. Also, rising consumption by millennials to manage weight, stress, and fatigue, is also likely to bolster the product demand over 2021-2027.
Ready to drink shakes are pre-formulated beverages that are easily available for consumption without the need for further blending or preparation. These drinks provide the benefits of comfort and portability to the current working generation while also boasting of the option to incorporate interesting packaging and innovative ingredients.
Expanding lactose intolerant population worldwide would also drive the sales of ready to drink protein shakes instead of milkshakes, improving the product landscape. Moreover, growing prominence of plant-based foods is expected to pitch in the demand for plant-based nutrition shakes, thus augmenting the overall ready to drink shakes market share.
Based on the packaging type, bottles are anticipated to take over a considerable stake in the overall market. PET and glass bottles are known for their reusable properties. Besides, companies in the space are using recycles plastic bottles to avail tax benefits from the government for eco-friendly attributes. Additionally, recycled bottles decrease the packaging cost, thereby increasing the profits for the company. For instance, Huel had in 2019 launched chocolate RTD in the 100% recyclable bottles that have been made from 25% recycled plastic, in the United States.
In terms of the distribution channel, ready to drink shakes market is poised to record massive growth from the online segment. Expanding digitization and rising inclination towards purchasing everyday food and beverages items from e-commerce stores given the doorstep delivery system would push the online segment to grow profusely through 2027. In addition, elevating internet penetration and increasing use of smartphones is predicted to have a major influence on RTD shakes market growth from the online segment. Another factor boosting the segmental growth is the ease of product comparison in less time.
Geographically, North America is touted to emerge as a lucrative growth hub for ready to drink shakes industry in the coming years. The growth can be attributed to the increasing health consciousness amongst consumers in the region, along with the rising spending on fitness products and food and beverages. Moreover, escalating the number of healthier substitutes in protein shakes like pea, whey, and egg protein shake in line with a high preference for healthy supplements would strengthen the product demand further.
Major companies operating in ready to drink shakes market are Nestle S.A, Coca-Cola Company, Kellogg Company, Campbell Soup Company, Danone S.A. (Sofina), and Huel GmbH amongst others. These market vendors have been relentlessly working towards developing novel products in the business space, enabling them to gain a significant position in the global market. Also, they have been engaged in vivid strategic initiatives like acquisitions, collaboration, and partnerships.
For instance, Nestle had in 2020, strengthened its plant-based portfolio with the launch of dairy alternatives.
Similarly, Huel, had in 2019, introduced its first vegan ready-to-drink shake which is available in the global markets in berry and vanilla flavors.
The sales of fitness and healthy drinks have been rising dynamically even amidst the ongoing coronavirus pandemic. This has also produced a significant rise in the sales of ready to drink shakes, given the increasing consumption by fitness conscious population worldwide.