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Beverage Premix Market size to surpass $95bn by 2030
- Published Date: September 13, 2022
Beverage Premix Market size is anticipated to be more than USD 95 billion by 2030, according to a new research report announced by Global Market Insights Inc.
The new study reveals that the concept of convenience drinks has gained notable traction among customers, especially the younger population. As more people grow conscious about their health and take important steps to boost their immunity and improve their lifestyle, the demand for these drinks will grow. High-income countries across North America and Europe are witnessing increased spending on packaged drinks, as they offer a lot of ease & convenience and are ready to be consumed directly.
With rapid changes taking place in people’s lifestyle due to hectic schedules, many individuals do not have the time or energy to make different foods or drinks from scratch, thereby opting for convenience drinks. Extreme changes in weather conditions might also prompt customers to consumer premixed energy drinks. For instance, the summer season in many parts of the world can create heatwaves, causing severe damage to a person’s hydration level.
This will boost the consumption of beverage premixes as they can contain healthy amounts of vitamins & minerals needed to boost hydration and energy levels. People who are suffering from diseases that cause a heavy loss of bodily fluids can also consume premixed health drinks. Some of them contain electrolytes that can help patients regain energy.
Increased convenience to augment powder-form beverage premix demand
Based on the form, the global beverage premix market share from the powder segment is projected to exceed USD 46 billion by 2030. The percentage of the working population is increasing at a robust pace across the world. In India, for instance, there were around 900 million people under the working age group of 15-64 years in 2020. This figure is set to increase by another 100 million by 2030. A growing volume of younger population in emerging economies will fuel the adoption of powdered beverage premixes, which offer the ability to make instant drinks.
Growing base of coffee consumers to boost beverage premix sales
In terms of the product type, the beverage premix market share from the coffee premix segment had surpassed USD 9 billion during 2021. The consumer base for coffee is expanding at an appreciable rate, due to the taste and other benefits this drink provides. It is among the most consumed beverages across developed economies. Estimates suggest that 64% Americans, aged 18 and above, drank coffee daily in 2019. A few of the important coffee premix products include Choco mocha, latte, and cappuccino flavors.
Browse key industry insights spread across 436 pages with 566 market data tables & 22 figures & charts from the report, “Beverage Premix Market Size, By form (Powder, Granules, Paste, Liquid), By Type (Tea Premix, Coffee Premix, Soup Premix, Healthy Drinks Premix, Milk Based Premix, Alcoholic Beverages Premix, Others), By Distribution Channel (Hypermarket & Supermarket, Convenience Stores, Online Channels, Specialty Stores, Others) Industry Analysis Report, Regional Outlook, Covid-19 Impact Analysis, End-user Development Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents:
Convenience stores act as major distribution channels for beverage premixes
With respect to the distribution channel, the convenience store segment held around 21% share of the global beverage premix market in 2021. These stores work for extended hours and stock up on essential household items. Their aim is to increase the customers’ convenience by keeping a vast inventory of all the necessary foods and beverages. Premixed or premade foods and drinks are becoming popular among the urban population. It has urged most convenience store owners to partner with beverage premix manufacturers, to help the latter promote their products.
Europe beverage premix market shows promising growth
European industry value is set to go past USD 30 billion by 2030. One of the major reasons behind the rising product demand is the nutritional content of health drink and other premixes. Most products show a detailed list of all the ingredients used and their health benefits for customers. Since an increasing percentage of the regional population is willing to splurge on high-end nutritional products, the demand for beverage premix products will expand at a substantial rate. European countries also have robust chains of hypermarkets and convenience store brands, augmenting the product accessibility.
New opportunities to bolster beverage premix industry competition
Reputed companies in the beverage premix market include Mondelez International, Inc., The Coca-Cola Co., Unilever, Panama Foods, CCL Products Ltd, Neel Beverages Pvt. Ltd., Om Sai Foods, Tweak Beverages, Ito En Inc., Nestlé, Wagh Bakri, and Girnar, among others. Increased production capacities, improved marketing tactics, and regional expansions could be a few of the major growth strategies these organizations adopt. The surge in preference for online platforms to buy convenient premix products will present new opportunities for the companies to strengthen their consumer reach.