PUBLISHER: Orion Market Research | PRODUCT CODE: 1215806
PUBLISHER: Orion Market Research | PRODUCT CODE: 1215806
Title:Global Instant Beverage Premix Market Size, Share & Trends Analysis Report, By Product (Instant Coffee Premix, Instant Milk Premix, Instant Tea Premix, Instant Health Drinks, and Others), By Function (Plain and Flavored), By Distribution Channel (Hypermarkets/Supermarkets, Convenience Stores, and Online Channel), Forecast Period (2022-2028).
The global instant beverage premix market is anticipated to grow at a CAGR of 6.3% during the forecast period. Advantages of instant beverage premix comprising easy preparation, reduced time of preparation, long shelf life, and convenience are the major growth factors driving the global instant beverage premix market. Instant beverage premixes are easy to prepare and take less time to prepare. Moreover, they offer longer shelf life as they contain several preservatives and other chemicals to increase shelf life and other properties of premix. High self-life and convenience associated with instant beverage premix are expected to propel the growth of global instant beverage premix market. Owing to their ability to reduce the time of preparation, they are increasingly used in home cooking which is further driving the growth of the market. Instant coffee premix and instant tea are the most popular premixes among consumers for home use. Instant beverage premix enables consumers to make beverages at the office or home within less time and owing to which they are becoming more popular as a result of these advantages.
The global instant beverage premix market is segmented based on the product, function and distribution channel. Based on the product, the market is segmented into instant coffee premix, instant milk premix, instant tea premix, instant health drinks, and others. On the basis of function, the market is segmented into plain and flavored. Further, based on distribution channel, the market is categorized into hypermarkets/supermarkets, convenience stores, and online channel. Based on the product segment, the instant health drinks premix are anticipated to generate the highest revenue and is expected to register a higher growth rate in the coming years owing to the growing awareness of healthy drinks and its health-beneficial properties. Owing to the rising awareness of healthy food and drinks, consumers are increasingly looking for products that can meet their nutritional needs with convenience especially among kids. Moreover, companies are focusing on introducing products which can support people gain the required nutrients and vitamins. For instance, in March 2021, Southern Health Foods Pvt Ltd. Forayed instant malted food drink category through the launch of Manna Go Grain Malt, an instant Multigrain health drink mix. Specially formulated for kids' growth, immunity and nutrition needs, Manna Go Grains has 7 grains and 7 immunity builders like Zinc, Selenium, Vitamin A, C, E etc. and provides 33% RDA of these micronutrients in a single-serve.
Geographically, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. Asia-Pacific is anticipated to hold a considerable share in the market owing to increasing demand for instant tea and coffee premix that offers various health benefits to consumers. Consumers in the country such as India are inclining towards tea that contains ingredients that offers various health benefits such as increase metabolism, support build immunity, beneficial for skin related problems, and common cold, among others. Instant beverage premix, such as green tea and green coffee is a major attractive sector, as people are becoming more health conscious. These are the key dynamics affecting the market growth in the region. Owing to this demand, manufacturers in this region are introducing varieties of instant tea and coffee premix in the market. For instance, in 2019, Marico Ltd. Launched a range of super beverages as part of the Saffola Fittify Gourmet offering. The new addition includes Superfood Moringa Green Tea and Green Coffee Instant Beverage Mix, with antioxidant benefits, in an array of delicious flavors. The range of USDA organic superfood moringa green teas boosts immunity, aids weight management and supports to regulate metabolism, offering an individual nothing short of a gourmet product. The Green Coffee Instant Beverage Mix aids weight management and regulates blood sugar and metabolism.
The major companies serving the global instant beverage premix market include PepsiCo, Inc., Nestle S.A., The Coca-Cola Co., Dunkin Group, Inc., and Cargill, Inc. The market players are contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance, in August 2021, Wagh Bakri Tea Group introduced its Instant Tea in two variants - Wagh Bakri Instant Express Tea & Wagh Bakri Instant Saffron Tea. The two new variants are available in 'No Added Sugar' variant and strengthen the Wagh Bakri instant premix range of already existing flavors of Masala, Elaichi, Ginger and Lemongrass.
Research Methodology
The market study of the global instant beverage premix market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives as possible, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
Secondary Sources Include:
The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.
Market Segmentation
The Report Covers: