Dublin, Jan. 03, 2024 (GLOBE NEWSWIRE) -- The "United States Non-Alcoholic Ready To Drink Beverages Market Competition Forecast & Opportunities, 2028" report has been added to ResearchAndMarkets.com's offering.
The United States non-alcoholic ready to drink beverages market is expected to grow during the forecast period owing to various factors such as rising demand from health-conscious consumers, increasing popularity of non-alcoholic beverages among millennial, and high demand from young consumers. Moreover, energy drinks are becoming increasingly popular due to their ability to improve performance alertness, as well as endurance. As a result, the demand for energy drinks is driving the growth of the non-alcoholic ready to drink beverages market in the United States.
The market for non-alcoholic ready to drink beverages in the United States is expected to grow due to increasing health-consciousness of consumers and their preference for unique and different flavors. The expansion of functional drinks, such as sport drinks and energy drinks, is also contributing to the rising demand, as more people are engaging in physical activity.
Moreover, the increasing health awareness among consumers and the growing demand for ready to drink beverages from millennial are driving the non-alcoholic ready to drink beverages market in the United States. As the market landscape is constantly evolving, it is essential to stay updated with the latest trends and consumer preferences to identify and capitalize on opportunities effectively.
In 2022, the market expansion from 2021 to 2022 of non-alcoholic beverage in the United States had an annual growth rate of 20.6%, reaching USD 395 million. Moreover, according to data provided by Information Resources Inc., the juice drinks segment brought in USD 7.88 billion in sales in 2022, an increase of 4.8 percent from previous year. The volume for this segment remained relatively stable at 0.7% of sales.
United States Non-Alcoholic Ready To Drink Beverages Market Drivers
Due to the rising consumer preference toward physical and health-related fitness activities is a major factor boosting the demand for non-alcoholic ready to drink beverages. Major consumer segment prefer energy drinks due to their claims of improving endurance, performance, and alertness. Thus, various companies operating in this market is focusing in providing zero-calorie and low-sugar drinks to meet the increasing demand from consumers in the United States. Consumers are becoming more experimental to try food & beverages, which are healthy with nutrients. Most consumers, especially young generation's focus has shifted to proper nutritional intake, and most consumers have shifted toward healthier beverage drinks, including nutrients such as vitamin- and mineral-infused functional water.
Moreover, non-alcoholic ready to drink beverages are gaining popularity among consumers with working lifestyles who want convenience, as they prefer ready-to-drink options that can be easily consumed on-the-go. In addition, concerns about the negative health effects of sugary drinks among consumers, have prompted to seek them lower-calorie and less-sugary alternatives.
This has contributed to the growth of various non-alcoholic, low-sugar, and naturally sweetened beverage options. Thus, the demand for non-alcoholic ready to drink beverages in the United States is expected to increase during the forecast period.
United States Non-Alcoholic Ready To Drink Beverages Market Trends
Beverage companies continuously introduce new and innovative products to cater to changing consumer preferences. This includes the introduction of functional beverages such as energy drinks, enhanced water, and novel flavor combinations to keep the market fresh and interesting.
Moreover, with the growing trend of plant-based diets among consumers and increased awareness of lactose intolerance and dairy-related environmental concerns, there is a growing demand for plant-based and non-dairy ready to drink beverages. This includes plant-based milk alternatives such as almond milk, oat milk, soy milk, as well as innovative plant-based protein shakes and beverages.
Manufacturers are emphasizing eco-friendly practices in their packaging to attract eco-conscious consumers. As environmentally-conscious consumers are looking for beverages with sustainable packaging materials, such as recyclable or biodegradable containers.
Furthermore, companies are experimenting with unique flavor profiles and combinations to cater to adventurous consumers. This includes exotic fruit flavors, herbal infusions, and unexpected pairings that provide novel taste experiences. For instance, in 2022, Red Bull launched its limited-edition strawberry and apricot-flavored extension energy drinks in single cans in the United States.
Moreover, the Coca-Cola Company, Keurig Dr Pepper, and PepsiCo have introduced consumers with more beverage options with low or no sugar, and currently nearly 60% beverages sold by these companies have no sugar at all, which includes carbonated soft drinks, teas, sports drinks, sparkling and flavored waters, and more. Hence, with the growing trends, the United States non-alcoholic ready to drink beverages market is expected to grow during the forecast period.
United States Non-Alcoholic Ready To Drink Beverages Market Challenges
One of the significant challenges in the ready to drink non-alcoholic beverages market in the United States is the ongoing shift in consumer preferences and behavior. This shift had several implications for the industry. Consumers are conscious of their health and wellness, leading to a growing demand for healthier beverages among consumers in the United States. This has resulted in a shift of consumers from sugary, high-calorie drinks toward low sugar content, natural ingredients beverages, and with additional benefits such as vitamins, minerals, and antioxidants.
Moreover, the popularity of at-home beverage preparation, including homemade smoothies, cold brews, and other DIY concoctions, posed a challenge to the RTD beverages market. Consumers sought convenience, customization, and cost-effectiveness in preparing their drinks at home, potentially impacting the sales of ready-made beverages.
Furthermore, the growth of e-commerce and digital platforms changed consumer purchasing behavior. More consumers were buying groceries and beverages online, challenging traditional distribution channels, and requiring beverage companies to adapt their sales and marketing strategies accordingly. Thus, companies need to address these challenges by prioritizing innovation, invest in sustainable practices, and adapt their strategies to cater to changing consumer preferences.
Market Opportunities
The non-alcoholic ready-to-drink beverage market in the United States is experiencing significant growth and presenting several opportunities. Brands can explore innovative combinations and unique tastes to capture the attention of consumers seeking novel experiences as consumers demand wide range of flavors and ingredients.
Moreover, with the growing interest in beverages that provide additional health benefits, such as energy-enhancing, immunity-boosting, or stress-reducing properties, companies can expand their revenue by expanding their product portfolio in the United States, which will surge the market for non-alcoholic ready to drink beverages in the United States during the forecast period.
Moreover, consumers appreciate convenient and on-the-go packaging options, such as cans, bottles, and tetra packs. Brands that offer easy-to-carry, resealable, and sustainable packaging can gain a competitive edge. Companies have an opportunity to reach broader audience, especially those seeking unique or niche products by expanding their business on e-commerce and direct-to-consumer sales channels.
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the United States non-alcoholic ready to drink beverages market.
- PepsiCo Inc.
- The Coca Cola Company
- Dr. Pepper Snapple Group, Inc.
- Cott Beverages Inc.
- National Beverages Corporation
- Monster Beverages Corporation
- Nestle Waters North America, Inc.
- Monster Beverage Corp.
- Reed's, Inc.
- National Beverage Corp.
Market Dynamics
Drivers
- Growing Demand for Convenience and Ready To Go Drinks
- Shift Away from Sugary Beverages
- Increasing Demand of Sport and Energy Drinks
Market Trends & Developments
- Growing Awareness Of Health And Wellness Drinks
- Integration with Established E-Commerce Platforms
- Innovation and New Product Development
- Rise of Non-Alcoholic Drinks
- Rising Preferences for Healthier And Immunity-Boosting Beverages
Challenges
- High Price and Competition
- Evolving Standard & Regulations
Impact of COVID-19 on United States Non-Alcoholic Ready To Drink Beverages Market
- Impact Assessment Model
- Key Segments Impacted
- Key Regions Impacted
Report Scope:
United States Non-Alcoholic Ready To Drink Beverages Market, By Product Type:
- Carbonated Soft Drinks
- Juices
- Dairy-based Beverages
- Sports & Energy Drinks
- Others (Tea and Coffee, Non-Alcoholic Beer, Non-Alcoholic Wine, etc.)
United States Non-Alcoholic Ready To Drink Beverages Market, By Sales Channel:
- Supermarket/Hypermarket
- Departmental Store
- Convenience Store
- Online
- Non Retail
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