Global Ready to Drink Shake Market: Overview
Ready to drink shake is a food supplement that can be consumed immediately. These drinks are formulated with a specific ratio of carbohydrates, fats, and proteins which helps in maintaining the daily requirement of an essential nutrient. Ready to drink shakes are mostly high in protein sources, additionally they are gluten-free and contain essential vitamins & minerals which helps in weight management. These shakes come in different flavors and containers which makes them easy to carry and consume. These shakes can be enjoyed anywhere at any time of the day which makes them excellent pick-me-up for people who wants a healthy snack.
Global Ready to Drink Shake Market: Growth Factors
The global ready to drink shake market is growing at a significant rate; the factors mainly contributing to the growth of this market include changing preferences toward easy food, increasing on-the-go trend of consumption, and growing preference for healthy food. The shift in consumer preferences can be seen in the countries with high disposable income and demand for healthy & quality food is rising in developed countries which is ultimately attributing to the growth of ready to drink shake market. Furthermore, growing awareness regarding healthy food consumption among people with increased access to information through the internet is also anticipated to contribute to the growth of the global ready to drink shake market. Additionally, the growing fitness trend in the young generation within Asian Pacific countries is expected to provide better growth opportunities to the ready to drink shake market. Consumption of high protein shakes is increasing in this region, people involved in sports and gymnastics augmenting the demand for ready to drink high protein shakes. On the other hand, lack of knowledge about the benefits of ready to drink shake in low or middle-income countries may hinder the growth of the market in the forecast period, as most of the populations around these countries prefer fresh food over packed food materials, also low percentage of disposable income restricts customers to buy such products.
COVID-19 pandemic situations are positively affecting the global ready to drink shake market growth. Extended lockdown and restrictions on personal movement have resulted in panic buying and stockpiling of packed and ready-to-eat food materials, which has significantly increased the sale of ready to drink shake products. However, a halt on the manufacturing process, shortage of raw materials due to disruption of the supply chain, and less availability of distributers is causing product shortage in the market.
Global Ready to Drink Shake Market: Segmentation
The global ready to drink shake market is classified based on nature, packaging type, flavor, distribution channel, and region. Based on nature, the global ready to drink shake market is bifurcated into organic and conventional. Among these, the conventional segment is expected to hold a high share of the market owing to the less cost. Furthermore, the packaging type segment is split into bottles, tetra packs/ carton, and cans. Based on the flavor, the global ready to drink shake market is categorized into a strawberry, chocolate, vanilla, banana, and others. Whereas, the distribution channel segment is bifurcated into supermarket/hypermarket, online retail, specialty stores, convenience stores, and other retail formats.
Global Ready to Drink Shake Market: Regional Analysis
North America is expected to dominate the global ready to drink shake market in terms of market share. Factors attributing to the major share of the market include growing consumption of ready to eat food supplements, presence of key market players, and growing preferences for healthy & nutrient-rich products. Europe on the other hand is expected to hold the second-largest share of the market. Factors such as the growing preference for a healthy diet over fast food and increasing demand for easy food which can provide all the required nutrients are playing an important role in the growth of the ready to drink shake market in this region. However, Asia Pacific is expected to register rapid growth in the market over the forecast period. Factors augmenting the growth of the market in this region include changing lifestyle & food habitats, a rise in disposable income, and growing awareness regarding healthy food supplements.
Global Ready to Drink Shake Market: Competitive players
Major players operating in the global ready to drink shake market include Bolthouse Farms, Inc., The Coca-Cola Company, Starbucks Corporation, Nestlé S.A, Atkin Nutritionals Inc., Monster beverage Co., Lotte Chilsung Beverage Co, Arla Foods Amba, PepsiCo Inc., and The J.M Smucker Company.
Global Ready to Drink Shake Market: Regional Segment Analysis
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