Ready-to-drink packaging market to be USD 252.44-bn

According to a report by Towards Packaging, the global ready-to-drink packaging market size was estimated at USD 145.71-billion in 2022 and is projected to reach USD 252.44-billion by 2032, at a growing CAGR of 5.7% from 2023 to 2032

14 Dec 2023 | By Disha Chakraborty

The global ready-to-drink packaging market is expected to reach around USD 211.95-billion by 2029. Consumers on the go mentality has led to a developing convenience as a trend in packaging. Indicates that consumers are drawn to products or packages that make things easy to use, such as divisible portion sizes, easy-to-tear mechanisms, or internal cooking capabilities. 

Modern lifestyles require convenience. A product gains extra value and increases the probability of being purchased by a customer if it is simple to open, use, reseal, and carry. Within the beverage sector, carriers and travel sizes have gained popularity.

The ease and stable shelf life of ready-to-drink packaging has led to its global growth. The ready-to-drink market is expanding quickly, which helps businesses fulfil rising consumer demand, which will be ideal for informal get-togethers and at-home occasions.

For the past ten years, there has been a divisive trend about the size of ready to drink packaging due to several issues, including increased health concerns. A blood sugar imbalance is caused by excessive consumption of consumables, such as aerated drinks. It increases the risk of Type 2 diabetes by impairing the liver's capacity to digest sugar intake. Consequently, there is a growing push on beverage makers to shrink the size of their containers so that customers have more choices and can regulate how much they drink. Smaller packaging is required because some manufacturers promise to lower the calorie content.

Innovation in packaging technologies and designs is a crucial focal point for market players. Companies are investing in smart packaging solutions, integrating technologies like QR codes and augmented reality to enhance consumer interaction and provide additional information. The pursuit of differentiation often involves creative and visually appealing designs, especially in the premium and craft segments.

The COVID-19 outbreak has had a significant impact on consumer behaviour. Consumers are more focused than ever on the sustainability and hygienic aspects of items. As this crisis persists, a customer-focused strategy and the changing needs of shoppers will continue to be essential. Undoubtedly, as the market concurrently becomes more acclimated to the current situation, consumer behaviour will continue to shift during the projection period. Considering this, the demand for ready-to-drink packaging following the pandemic appears to be favourable.

 Consumer are attracted towards uncluttered and minimal packaging; hence luxury brands choose restrained colour pallets including clean lines, for exclusive and sophisticated consumers. Customer interactions with products have been transformed by interactive packages, which have closed the gap between real and virtual worlds. These clever apps enable a supply management system to operate more effectively, enhancing customer satisfaction. Sales and brand loyalty can be raised by using augmented reality features, QR codes, and near-field communication tags.

Moreover 40% of all non-fiber polymers are used in packaging, making it the largest market for plastic. As people's knowledge of these environmental issues has grown, they have begun to favour businesses and goods that adhere to green packaging trends and initiatives. Customers like innovations and goods obtained sustainably. Less than 30% of organisations are prepared to meet the ambitious and unambiguous commitments made by about 75% of them regarding packaging sustainability.

As the globe is moving towards convenience specifically, the booming generation is setting the trend, opting for suitable RTD packages.

As 2024 approaches, the trend of consumers making educated decisions shows no sign of waning. Beyond accurate chemical labeling, there is a discernible shift towards a more comprehensive and holistic approach to product information. Consumers are poised to demand thorough labelling that transcends ingredient lists, encompassing details about the company's environmental initiatives, its impact on local communities, and its carbon footprint credentials. This shift reflects an empowered consumer base that seeks transparency and takes pride in making choices that reflect their commitment to a sustainable and environmentally conscious lifestyle.
 

Latest Poll

Which is the sustainable packaging product among MSMEs that is most popular?

Results

Which is the sustainable packaging product among MSMEs that is most popular?

Bagasse and biodegradable boxes

 

33.33%

Corrugated boxes

 

33.33%

Paper bags

 

33.33%

Recyclable plastic (bubble wraps, bio-plastic)

 

0%

Total Votes : 3

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