Instant Beverage Premix Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI2310
Instant Beverage Premix Market is anticipated to witness significant growth owing to the increasing product awareness pertaining to health benefits coupled with ease of usage. Product innovation and design differentiation is one of the key factor driving the market growth. Flavor varieties, attractive packaging and design are among the key lucrative factors fueling demand.
Growing demand from corporate consumers due to high consumption rate of instant coffees will support product penetration. Quick service restaurants are expected to be the new trend for the purchase of ready to serve drinks driving the industry expansion. Presence of low quality products and long downtime taken for approval of ingredients could hamper the industry growth. However, rising number of key companies entering market will create positive outlook for market growth.
Fast-paced life and busy lifestyle has resulted in significant rise in demand for instant beverage premixes, as it enables consumers to make beverages quickly. Convenience of carrying instant premixes will drive the industry growth. Growing trends on instant tea, coffee and milk will propel the product demand. New product launches are anticipated to provide opportunities for industry players to diversify product portfolio fueling the market growth.
Instant beverage premix products include tea, coffee, health drink, milk and soup. Coffee holds the major share owing to the upsurging demand for ready to drink coffee from corporate cafeterias and airports. Other popular premixes include green tea. Benefits offered such as weight loss and regulating glucose levels in the body will stimulate the product demand.
Based on functionality, market is segmented as plain and flavored premixes. Flavored premixes will witness high growth rate due to variations in consumers’ flavor preferences. Technological advancements in terms of new flavour developments will boost segment growth. Upsurging demand for tailored flavors provide several future scopes for the product development and innovations.
On the basis of distribution channel, market is segmented as non-store based and store based. Store based channels is anticipated to dominate the segment owing to one-stop shopping experience. Manufacturers also sell products through their websites enhancing the demand of non-store based channels. Availability of the product through convenient channels is one of the key driver expected to fuel demand for this market in developing countries.
North America will witness substantial growth in the forecast period owing to demand of ready-to-eat foods products, including beverages. Increasing popularity of caffeinated concoctions is anticipated to stimulate the U.S. instant beverage premix market growth. Improved access to products through online retailing and extensive efforts by companies in consolidating retail chains in this region are expected to drive product demand. Europe is anticipated to witness significant growth owing to rising health awareness and increasing number of the obese population also support the industry growth.
Increasing consumer disposable incomes is projected to drive Asia Pacific instant beverage premix market growth. Significant changes in lifestyle have altered the food habits, resulting in burgeoning demand for convenient food & beverage. China, Japan, South Korea, and India are among the key contributing countries. Upgraded distribution channel as well as increasing e-commerce will propel regional industry growth. Growing demand for instant tea premix at a rapid rate in East Asia will drive the industry growth.
Global industry share includes Ajinamoto General Foods, Coca-Cola Company, Dunkin Brands group, Keurig Green Mountain, Monster Beverage Company, PepsiCo, Starbucks Corporation, Food Limited and The Republic of Tea. Major players are expected to witness stiff competitions from rivals. New products developments to meet the aspirations of the busy consumers will offer lucrative opportunities. High returns with low investments is the key factor, attracting new companies to enter into the instant beverage premix market. Companies may face threat from smaller companies, pertaining to cheaper substitutes to the consumers. However, innovations in marketing strategy of vendors are expected to popularize instant beverage premixes market.
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