The online ready-to-drink beverage market size grew 52% by gross merchandise value (GMV) from April-May-June(AMJ) 2023 to AMJ 2024 from 1.6% to 1.7%, reveals a report by Redseer. The report further revealed that the market size by GMV in AMJ 2024 came to be $121 million. From what is understood, this surge is attributed to the growth of quick commerce platforms which has made it easier for the consumers to access the products.
According to Redseer, non-carbonated drinks have significantly reached more consumers over the past year. With an increase by over 80%, retail water and mango-based juices have become the fastest growing categories. Furthermore, core carbonated drinks and non mango juices have grown by less than 50%. Redseer states that this shift highlights the increasing consumer preference for newer alternatives.
In the category of ready-to-drink beverages, soft drinks, energy drinks and soda/mixers grew by 42% Y-o-Y (year on year), while juices grew by 54%. The report states that the categories of iced tea, cold coffee and water grew by 74% Y-o-Y.
“It is reshaping how FMCG products, particularly RTD (ready to drink) beverages, are distributed and consumed,” states Redseer. While quick commerce holds 57% of the beverage GMV growth market, slotted commerce holds 40% of the market and a three percent lies with horizontals.
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