Radio frequency identification (RFID) technology is crucial in revolutionizing the food supply chain and combating global food waste. However, this technology faces challenges in full integration due to disruptive effects on tags caused by the dielectric properties of food and beverage ingredients, chemical constituents, and their packaging. This paper aims to demonstrate the effect of packaging and beverage contents on RFID tag performance. Three commercially available ultra-high frequency (UHF) RFID tags with different designs were tested on polyethylene terephthalate (PET) bottles, measuring tag performance through sensitivity, backscatter, and read range in the presence of various water-based solutions and commercially available beverages. The results highlight the substantial impact of the beverage type and tag design on RFID performance. The results of this study showed that tag 3 was the most consistent and readable tag amongst those tested in the presence of different beverage contents. Tag 3 resulted in a sensitivity ranging from -0.49 to -2.01 dBm, backscatter from -38.16 to 43.59 dBm, and read range from 1.58 to 1.88 m, while tag 1 performed the best in the presence of an empty PET bottle resulting in a sensitivity of -20.78 dBm, backscatter of -23.65 dBm, and read range of 16.34 m. The results of this study can be used for further investigations to develop a mathematical model that predicts the RFID tag performance based on the food composition. This model will be helpful for the design of the tags while facilitating the adoption of smart packaging for food traceability.