Instant Beverage Premix Market Size 2019 | Comprehensive Research Study, Gobal Industry Share, Explosive Growth Prospects, and Business Opportunities till 2023
“Global Instant Beverage Premixes Market is projected to grow at a CAGR of 5.2% by 2023, Instant Beverage Premix Market is segmented by type, functionality, distribution channel, and region”
Pune, India – June 20, 2019 /MarketersMedia/ —
Instant Beverage Premixes Market Overview
Market Research Future (MRFR) recently published a report on instant beverage premixes market, discussing different aspects of the same. An instant beverage premix is a dry mix which, when blended with water or milk, can be turned to a beverage immediately. The report discusses various factors that are contributing to the ascension of the global instant beverage premixes market through the forecast period.
Market Drivers
High demand for convenience foods and beverages is observed, owing to a stark change in the eating habits and lifestyle habits of a majority of the population. This is one of the primary drivers for the instant beverage premixes market. These beverage premix products provide a higher shelf-life, have a convenient packaging, which is attractive attributes to consumers, driving the demand, further leading sizeable growth in the global instant beverage premixes market.
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Instant premixes not only save the time of the consumer but also help in the body’s metabolism boost, catching the eye of health-conscious consumers. Mounting demand for instant drinks owing to a proliferating working-class population is also expected to drive up the sales in the instant beverage premixes market. A high focus on research and development is likely to result in advanced innovations in the product line. These innovations can include experimentation with different flavors or the nutritional value, catering to a health conscious and food enthusiastic population at the same time.
Key Players
The global instant beverage premixes market is highly influenced by the activities and strategies undertaken by the vendors present in the market. Some of these players, including
• The Republic of Tea (the U.S.)
• Ito En, Inc. (Japan)
• Ajinomoto General Foods Inc. (Japan)
• Keurig Green Mountain, Inc. (the U.S.)
• PepsiCo Inc. (the U.S.)
• Suntory Beverage & Food Limited (Japan)
• Monster Beverage Co. (the U.S.)
Industry Update
May 2019: Tata Coffee Vietnam Company recently opened a new instant coffee plant in Vietnam, after collaborating with GEA. This facility has the capacity of producing 5000 tons of freeze-dried coffee per annum.
Segmentation
The global instant beverage premixes market report includes segmental analysis based on type, functionality, distribution channel, and region.
By type, the global instant beverage premixes market includes the segments of instant coffee, instant tea, instant health drink, instant milk, and instant soup. Among these segments, the instant coffee segment is expected to expand at a high CAGR during the forecast period. This market domination can be attributed to a mushrooming demand for instant coffee from not only coffee fanatics but also cafes and other coffee serving outlets.
Based on functionality, the global instant beverage premixes market is bifurcated into plain and flavored products. The flavored products segment is projected to witness the highest CAGR through the forecast period. Consumers highly prefer flavored instant beverage premixes over plain premixes, driving the demand for the same.
Based on the distribution channel, the global instant beverage premixes market is segmented into store-based and non-store-based. Owing to the one-stop shopping experience, the store-based segment is anticipated to spearhead the global instant beverage premixes market.
Regional Analysis
The Global Instant Beverage Premixes Market is studied for various specific regional segmentations for better understanding and deeper insights. These geographical segments include North America, Europe, Asia Pacific, and the Rest of the World. North America is expected to hold a prime share of the instant beverage premixes market during the forecast period.
Asia Pacific is most likely to follow North America and accounts for the second largest share in the instant beverage premixes market over the assessment period. Elevation of the instant beverage premix sales in this region can be attributed to substantial lifestyle changes and growing preference towards convenient food products. Moreover, mounting disposable incomes in several emerging economies present in the APAC is also expected to drive the regional market exponentially.
Some of the prominent importers of instant beverage premixes across the globe include the U.S., Germany, Russia, the Philippines, and China.
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