FMI study predicts steady rise for ready-to-drink shake market

A study from Future Market Insights has revealed that the estimated revenue generated from the global ready-to-drink shakes market reached US$9 billion (AU$14.7 billion) in 2019 and is projected to reach US$16 billion (AU$26 billion) by 2028. The market is projected to rise at a CAGR of 6% between 2020 and 2028.

Globally, functional drinks are sought after for their high protein content, with demand predicted to rise over the forecast period. The study attributes this increase in consumption to an increase in consumer spending power, especially in developing nations. Ready-to-drink shakes which constitute a category of functional drinks are available in various flavours, such as chocolate, banana and strawberry, in the global market.

The global market of ready-to-drink shakes is analysed on the basis of various flavours. The products are available in different packaging forms, such as bottles, tetra packs/cartons and cans, which offers heightened convenience. Ready-to-drink shakes also meet current health and wellness demands, by offering high protein with added specialty health ingredients.

The study indicated that ready-to-drink shakes are consumed as a meal replacement to achieve weight management by restricting calorie intake, particularly in countries where obesity is an issue, such as the US, Canada, Australia and the UK. The ready-to-drink shakes market is also expected to witness positive growth over the forecast period, due to the increased prevalence of diseases and subsequent rising trend of health and wellness. Ready-to-drink shakes are also being increasingly used by fitness enthusiasts and athletes, as they reduce the hassle of the mixing of protein powder in a liquid of choice, and also the wait.

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