PUBLISHER: SkyQuest | PRODUCT CODE: 1244235
PUBLISHER: SkyQuest | PRODUCT CODE: 1244235
Global RTD Protein Beverages Market is valued at USD 1.34 billion in 2021, and it is expected to attain a value of USD 2.26 billion by 2028, at a CAGR of 7.72% over the forecast period (2022 - 2028).
The global RTD (Ready-to-Drink) protein beverages market refers to the market for pre-formulated protein beverages that are ready to consume without the need for any additional preparation. These beverages typically contain a high concentration of protein, often derived from whey, soy, or other sources. The market includes a range of products such as protein shakes, protein smoothies, protein water, and protein coffee. These products are popular among athletes, fitness enthusiasts, and individuals seeking a convenient and nutritious way to supplement their protein intake.
Top-down and bottom-up approaches were used to estimate and validate the size of the global RTD (Ready-to-Drink) protein beverages market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Segments covered in this report
The Global RTD Protein Beverages Market is segmented based on source, distribution channel and region. Based on source it is categorized into: plant based and animal based. Based on distribution channel it is categorized into: hypermarkets, specialty stores, online retail stores and others. Based on region it is categorized into: North America, Europe, Asia-Pacific, Latin America, and the Middle East and Europe.
Driver
One key driver of the Global RTD Protein Beverages Market is the increasing demand for convenient and healthy on-the-go beverage options. Ready-to-drink (RTD) protein beverages offer a convenient and portable source of protein that can be consumed at any time of day, making them an attractive option for consumers with busy lifestyles. Additionally, protein is an essential nutrient for maintaining muscle mass and promoting overall health, and many consumers are seeking out protein-rich foods and beverages as part of a healthy diet. The convenience and health benefits offered by RTD protein beverages are driving demand for these products, particularly among fitness enthusiasts and health-conscious consumers. As a result, the global RTD protein beverages market is expected to continue to grow in the coming years.
Restraint
One key restraint of the global ready-to-drink (RTD) protein beverages market is the high cost of these products compared to traditional beverages. RTD protein beverages are often more expensive than other types of beverages due to the cost of protein sources, such as whey or plant-based proteins, and the additional processing required to produce a shelf-stable, ready-to-drink product. As a result, price sensitivity among consumers may limit the growth of the RTD protein beverage market, particularly in price-sensitive markets. Additionally, some consumers may view RTD protein beverages as a niche product that is not necessary for their daily nutrition needs, which could also limit market demand.
Market Trends
One of the key trends in the global RTD protein beverages market is the increasing popularity of plant-based protein beverages. Plant-based protein beverages are made from sources such as soy, pea, rice, and hemp, and are often preferred by consumers who follow a vegan or vegetarian diet, or those who are lactose intolerant. The demand for plant-based protein beverages is driven by several factors, including the growing awareness of the health benefits of plant-based diets, concerns about animal welfare, and the environmental impact of animal agriculture.