The market size of the Global Beverage Premix Market in the year 2021 is valued at 56.49 billion and is predicted to reach 95.63 billion by the year 2030 at an 6.26% CAGR during the forecast period.
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.
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.
Some major key players in the Beverage premix market are 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.