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The Beverage Premix Market Size is valued at USD 61.64 Billion in 2023 and is predicted to reach USD 103.75 Billion by the year 2031 at a 6.94 % CAGR during the forecast period for 2024-2031.
Key Industry Insights & Findings from the Report:
- The beverage premix market was witnessing significant growth due to increasing consumer demand for convenience and ready-to-drink products.
- The market was driven by factors such as busy lifestyles, the rising popularity of specialty and functional beverages, and their convenience in terms of quick preparation.
- North America dominated the market and accounted for a revenue share of global revenue in 2023.
- Beverage premixes, which are pre-blended powdered formulations used to create various beverages, have gained popularity worldwide.
Premixed beverages are gaining popularity among fitness enthusiasts because they save time creating energy drinks from scratch. People are becoming more health concerned and drinking more beverages like protein shakes and energy drinks. One of the primary drivers cited is rising consumer health consciousness, predicted to stimulate demand for instant beverage premix in developing countries.
The growing working population and increasing demand for handy drinks will likely fuel market expansion. Furthermore, convenient packaging and long shelf life are two additional elements that are likely to drive growth. Factors such as rising disposable income, a hectic lifestyle, and a demanding work schedule are projected to fuel demand for instant beverage premix over the projection period. Customers are increasingly inclined to consume health-oriented beverages, such as instant premix, considered necessary items.
The market is expected to rise significantly in the following years due to increased demand for ready-to-drink beverages from business spaces and airports, among other places. Additionally, the rising availability of various nutrition drink premixes and the growing health consciousness among consumers are factors pushing individuals to drink at home rather than in restaurants and cafés. This aspect is expected to boost product demand shortly.
Market Segmentation:
The beverage premix market is segmented on the form, type and distribution channel. Based on form, the market is segmented into paste, powder, granule and liquid. Based on type, the beverage premix market is segmented into tea premix (ginger tea premix, lemon tea premix, mixed spices tea premix, cardamom tea premix, others), coffee premix (cappuccino premix, latte premix, choco mocha premix, others), soup premix (sweet corn premix, tomato soup premix, man chow soup mix, mix vegetables soup premix, others), healthy drinks (premix, fruit juices premix, vegetable juices premix, milk-based premix, rose premix, saffron almond premix, choco milk premix, others), alcoholic beverages (bloody mary, pina colada, margarita, cosmopolitan, mojito, others) and others. Based on distribution channels, the market is segmented into hypermarkets & supermarkets, convenience stores, online channels, speciality stores and others.
Based on form, the paste segment is accounted as a major contributor to the Beverage premix market
The paste segment is anticipated to hold the highest share of the market during the forecast period. Beverage premix pastes are more convenient to store and use and have a longer shelf life, and many clients are learning about the advantages of using these pastes. Instant coffee manufacturers, for example, have drawn inspiration from Algona coffee to create instant coffee pastes. This combination will save customers time when preparing coffee from scratch while simultaneously providing them with the benefits of instant coffee.
The coffee premix witnessed growth at a rapid rate
Coffee premix grabbed the highest revenue share, and it is anticipated that they will continue to hold that position during the expected time. Because they contain caffeine and have an enticing taste and aromatizing aroma, instant coffee premixes are widely used in corporate cafeterias and Quick Service Restaurants (QSR). Because of the increased use of instant coffee premixes in corporate settings, the instant coffee premix category has become one of the most appealing investment prospects.
The North American beverage premix market holds a significant revenue share in the region
The North American beverage premix market is expected to register the highest market share in revenue soon. The United States is the leading revenue contributor in the region. The widespread presence of corporate offices and the increasing need for instant beverage premixes from corporate cafeterias are the primary drivers of product demand in North American countries. In addition, Asia Pacific is projected to grow rapidly in the global beverage premix market. Because of the growing popularity of millennials in developing economies such as China and India To be competitive, businesses are focused on R&D investments to retain taste and extend the shelf life of their products. Over the projected period, these factors are expected to broaden the scope of expansion for the instant beverage premix market.
Recent Developments:
- In Oct 2023, A global partnership between The Coca-Cola Company and Pernod Ricard has been established in order to introduce Absolut Vodka & Sprite in 2024 as a ready-to-drink pre-mixed cocktail. Absolut & Sprite will be formulated using Absolut, a globally renowned premium vodka, and Sprite, the preeminent lemon-lime carbonated soft drink in the world. Sprite and Sprite Zero Sugar variants of the pre-mixed cocktail are anticipated to be available. It is anticipated that the initial release of this product will occur in early 2024 in select European countries, including Germany, the United Kingdom, the Netherlands, and Spain.
- In Sept2021, Insta-Brew has introduced its newest product, single-serving coffee capsules. InstaBrew combines convenience with the utmost quality of all-natural ingredients. Each cube offers the most robust taste profile in the market and is delicately sweetened with natural, unrefined raw sugar cane. It is clear that InstaBrew is the future of delightful, handmade coffee and tea. The coffee cubes are crafted only from freshly brewed Colombian coffee, ensuring the incorporation of innovative methods while maintaining a straightforward approach to enhance your coffee experience.
Competitive Landscape:
Some major key players in the Beverage Premix Market:
- Mondelez International, Inc.,
- The Coca-Cola Co.,
- Panama Foods,
- Neel Beverages Pvt Ltd.,
- Tweak Beverages,
- Om Sai Foods,
- Ito En Inc.,
- Nestlé,
- Unilever,
- Wagh Bakri,
- CCL Products Ltd,
- Girnar
Beverage Premix Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2023 |
USD 61.64 Billion |
|
Revenue forecast in 2031 |
USD 103.75 Billion |
|
Growth rate CAGR |
CAGR of 6.94 % from 2024 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Million and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments covered |
Form, Type, Distributioin Channel |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
Mondelez International, Inc., The Coca-Cola Co., Panama Foods, Neel Beverages Pvt Ltd., Tweak Beverages, Om Sai Foods, Ito En Inc., Nestlé, Unilever, Wagh Bakri, CCL Products Ltd, Girnar, and many others. |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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