Jakarta, Indonesia (24 June 2024): Tetra Pak, the world’s leading food processing and packaging solutions company showcases the growth potential of the Ready to Drink (RTD) segment through its Innovation Starts Here event. The one-day event brings together F&B (Food & Beverage) leaders and industry partners to explore market growth opportunities and business strategies for the region’s thriving RTD landscape.

According to reports, the RTD market was valued at US$2.2 trillion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of more than five percent by the year 2028. The rising urbanisation coupled with today’s busy and fast-paced lifestyles has created a demand for convenient and easily accessible food and drinks. The product availability in urban settings combined with the ease of consumption without the need for preparation aligns well with the trend of on-the-go consumption.

Southeast Asia presents a unique market landscape where both tea and coffee-based RTD beverages coexist and cater to diverse consumer preferences. It is reported the RTD tea and coffee market across the region is projected to witness growth, reaching a significant US$8.7 billion by 2028. This growth will be fuelled by a CAGR of 7.58 percent, signifying a dynamic and highly lucrative market. This growth underscores the importance of innovation in sustaining and accelerating this trajectory.  

Recognizing this distinct dynamic, the event delved into the evolving challenges that the F&B industry faces in which younger consumers are demanding more from their beverages. This includes increasing demands for health-conscious options, greater convenience, and sustainable packaging.

“At Tetra Pak, innovation has always been the driving force behind how we address the opportunities and challenges in the F&B industry. We remain focused on developing industry-leading solutions that help solve whatever business challenges our customers face. This includes identifying opportunities and creating go-to-market plans for new products or improving operational efficiency. Through the thought leadership discussions, we had today, together with the industry leaders we can continue to unlock the immense potential of the region’s RTD market,” says John Jose, Marketing Director, Tetra Pak Malaysia, Singapore, Philippines, and Indonesia.  

At the event, Tetra Pak highlights the latest insights and solutions that enable customers to navigate market challenges with its comprehensive suite of end-to-end solutions and marketing services. This includes the introduction of the concept – Demand Spaces – where insights from the concept can empower brands to have better directions for product innovation and product positioning. By understanding these needs, F&B brands will be able to identify opportunities within their existing product portfolio and develop innovative products and new flavours that cater to consumer preferences.

Tetra Pak also revealed the potential of sunflower protein as a new ingredient option, and participants were offered a taste of it during the event. “Sunflower seed as a beverage ingredient is something unconventional and revolutionary,” John explains. “We have identified sunflower protein as a nutritious, sustainable, and affordable ingredient option, catering to consumers seeking alternatives to existing dairy or even plant-based milks. For F&B manufacturers, it could be a cost-effective option in terms of its production and innovation of product portfolio”.

Tetra Pak’s “Innovation Starts Here” event reinforces the company’s status as the ultimate destination for innovation in the food and beverage sector. With cutting-edge technologies and a global network of experts spanning different industries, Tetra Pak’s innovative approaches can enhance operational efficiency and promote sustainability, ensuring its customers stand out in a competitive market.

John said: “On behalf of the Tetra Pak’s team, I would like to thank our customers and partners for being here with us as we explore the future of food for Indonesia and the region. I am looking forward to continuing the conversations we started today to address the needs of our industry for the benefit of the consumers.”

Visit us at Innovation Starts Here to learn more about our approach to innovation.

About Tetra Pak 

Tetra Pak is a world leading food processing and packaging solutions company. Working with our customers and suppliers, we provide access to safe, nutritious food for hundreds of millions of people in more than 160 countries every day.  

With over 24,000 employees worldwide, we commit to making food safe and available, everywhere, and we promise to protect what’s good: food, people and the planet.  

More information about Tetra Pak is available at www.tetrapak.com