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Ready-to-Drink Protein Beverages Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Ready-to-Drink Protein Beverages Market is segmented by Source (Whey, Casein, Soy, and Other Sources), Distribution Channel (Supermarkets/Hypermarkets, Pharmacies/Drugstores, Specialist Retailers, Online Retail, and Other Channels), and Geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

Market Snapshot

Ready to Drink Protein Beverages Market
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 7.72 %

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Market Overview

The ready-to-drink protein beverage market was valued at USD 1,341.76 million in 2020, and it is projected to register a CAGR of 7.72% during the forecast period (2021-2026).

COVID-19 is stimulating the customization of protein beverages, as gyms across various countries are closed and sporting gatherings are banned. This has provided an opportunity for companies to roll out new offerings in line with changing consumers’ tastes and preferences, which is crucial, as the mainstreaming of protein nutrition drinks is highly competitive.

Over the medium term, the inclination of consumers toward maintaining health and awareness would create immense demand for protein-enriched drinks. Currently, protein drinks are being increasingly marketed across the regions as sports nutrition drinks. Athletes and bodybuilders are increasingly consuming these protein drinks to improve their overall performance, health, and muscle growth.​

Demand for plant-based protein drinks is expected to push manufacturers to bring organic and clean label protein drinks across the market channels.

Scope of the Report

The ready-to-drink protein beverages are the products produced using a variety of high protein substances in order to fulfill daily nutrient requirements of the individuals and are considered as a convenient way to consume the nutrients on the go. The ready-to-drink protein beverages market is segmented by source (whey, casein, soy, and other sources), distribution channel (supermarkets/hypermarkets, pharmacies/drugstores, specialist retailers, online retail, and other channels), and geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa). For each segment, the market size has been done on the basis of value (USD million).

By Source
Whey
Casein
Soy
Other Sources
By Distribution Channel
Supermarkets/Hypermarkets
Pharmacies/Drugstores
Specialist Retailers
Online Retail
Other Channels
By Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Spain
United Kingdom
Germany
France
Italy
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
South Africa
United Arab Emirates
Rest of Middle-East and Africa

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Key Market Trends

Strong Demand from Health Conscious Consumers

Protein-based drinks have increasingly gained popularity, mainly among athletes and individuals involved in vigorous physical activities. The growing emphasis on staying healthy and in shape and rising participation in sports, health clubs, sports clubs, and gyms are some of the key drivers contributing to the growth of the global ready-to-drink protein beverage industry.​ In recent years, health clubs and fitness centers witnessed consistent growth due to increased health concerns and lifestyle changes. The rise in health awareness and the need for adequate nutritional content in food fostered the demand for sports nutrition products, including protein beverages. ​According to the International Health Racquet and Sports Club Association, in 2017, there were nearly 201,250 health and fitness clubs globally and 38,477 clubs in the United States. In addition, the total US health club membership increased from 50.2 million in 2012 to 60.9 million in 2017. The data signifies growth in awareness regarding physical fitness among consumers, which has been fueling the demand for protein-based drinks, globally. ​

RTD Protein Beverages Market 1

North America Dominates the Market

While awareness of the need and benefits of protein is increasing, so is the demand for convenience. An increasingly larger number of consumers are eating on the go and looking to supplement their diets with protein beverages. While the traditional protein smoothie or shake is a popular option, many are choosing refreshing and thirst-quenching clear protein drinks. Moreover, on account of the rising vegan and flexitarian trend, a large number of consumers are demanding vegan beverages. To tap into such potential market opportunities, players are capitalizing on the growing popularity of plant-based proteins diets. For instance, In February 2020, Sproud, a Swedish company, launched a range of Pea Protein Milk in the United States. The plant-based protein beverages are launched in four varieties, namely, Original, Unsweetened, Chocolate, and a professional formula developed for and by baristas in a 1lt/3.8 oz pack.

Ready-to-drink Protein Beverage Market 2

Competitive Landscape

The market for ready-to-drink protein beverages is fragmented and is driven by various active players. The major players have used several strategies such as new product launches, expansions, joint ventures, partnerships, acquisitions, and others to increase the market growth. The key players operating in the market include PepsiCo, Glanbia PLC, Coca-Cola, and Labrada, among others. Manufacturers are increasing their investments in R&D, marketing, and expanding their distribution channels to maintain their market position. To sustain their positions in the market, leading players are bringing innovation in their product offerings in order to cater to the changing consumer demand. For instance, in February 2021, the plant-based beverage company, Koia, announced that its products may now be nationally distributed in 7-Eleven convenience stores in the United States. Over 60% of consumers come to 7-Eleven for beverages, making it critical for the company portfolio to match their needs of living healthy lives.

Recent Developments

  • In January 2021, PepsiCo and Beyond Meat created a joint venture called The PLANeT Partnership that will develop, produce, and market snack and beverage products made from plant-based protein.
  • In January 2020, Coca-Cola acquired full ownership of the dairy brand Fairlife. Coca-Cola acquired the remaining stake in Fairlife from its joint venture partner Select Milk Producers, a dairy cooperative. Coca-Cola previously owned a 42.5% minority stake.
  • In May 2019, Glanbia launched BevOat Low Viscosity, designed for ready-to-drink (RTD) beverages, which are rich in proteins.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Bargaining Power of Suppliers

      2. 4.3.2 Bargaining Power of Buyers

      3. 4.3.3 Threat of New Entrants

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Source

      1. 5.1.1 Whey

      2. 5.1.2 Casein

      3. 5.1.3 Soy

      4. 5.1.4 Other Sources

    2. 5.2 By Distribution Channel

      1. 5.2.1 Supermarkets/Hypermarkets

      2. 5.2.2 Pharmacies/Drugstores

      3. 5.2.3 Specialist Retailers

      4. 5.2.4 Online Retail

      5. 5.2.5 Other Channels

    3. 5.3 By Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Spain

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 Germany

        4. 5.3.2.4 France

        5. 5.3.2.5 Italy

        6. 5.3.2.6 Russia

        7. 5.3.2.7 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 South Africa

        2. 5.3.5.2 United Arab Emirates

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Adopted Strategies

    2. 6.2 Most Active Companies

    3. 6.3 Market Positioning of Players

    4. 6.4 Company Profiles

      1. 6.4.1 Kellogg Company

      2. 6.4.2 Glanbia PLC

      3. 6.4.3 PepsiCo Inc.

      4. 6.4.4 Halen Brands

      5. 6.4.5 Post Holdings Inc.

      6. 6.4.6 Koia

      7. 6.4.7 Abbott Nutrition

      8. 6.4.8 Labrada Nutrition

      9. 6.4.9 The Coca Cola Company

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. IMPACT OF COVID-19 ON THE MARKET

**Subject to Availability

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Frequently Asked Questions

The Ready-to-Drink Protein Beverages Market market is studied from 2016 - 2026.

The Ready-to-Drink Protein Beverages Market is growing at a CAGR of 7.72% over the next 5 years.

The Ready-to-Drink Protein Beverages Market is valued at 1341 Million USD in 2016.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

The Kellogg Company, PepsiCo, Inc., Halen Brands, Glanbia Plc, Labrada Nutrition are the major companies operating in Ready-to-Drink Protein Beverages Market.

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