Instant Beverages Premix Market size in 2019 is estimated to be $83.827 billion, growing at a CAGR of 5.8% during the forecast period 2020-2025. Instant beverage premix are referred to as dry mixes which can be blended with water or other solvents like milk to prepare the beverage instantly. Instant beverage premixes are easily prepared drinks, which boost metabolism and available in the form of powder beverages which contain edible acids and vegetable extracts. Increasing awareness about health and growing consumption of instant service are the major factors driving the growth of the market. Moreover, hectic lifestyle and tight work schedule of the working professionals further enhance the overall market demand for Instant Beverages Premix during the forecast period 2020-2025.
Product Type – Segment Analysis
Based on the Product Type, Instant Beverages Premix Market is segmented into Tea, Coffee, Health Drink, Milk, and Soup. The coffee segment is forecast to be the fastest-growing segment and is projected to grow at a CAGR of 5.6% during the forecast period 2020-2025. This is mainly owing to growing demand for ready to drink coffee from corporate cafeterias and airports. Moreover, it contains caffeine which can improve brain function that are contributing to the growth of this segment.
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Functionality – Segment Analysis
Based on the Functionality, Instant Beverages Premix Market is segmented into Plain Premixes, Flavored Premixes. In 2019, flavored premixes held the largest share in the Instant Beverages Premixes market. This is mainly owing to high demand for various flavor preferences among consumers. Moreover, technological advancement for new flavor development is also contributing to the growth of this segment.
Geography – Segment Analysis
North America dominated the Instant Beverages Premix market share accounting for 41% of the market in 2019. This is mainly owing to increasing consumption of ready to eat foods including beverages and growing intake of caffeinated beverages. According to U.S. Department of Health, about 50% of Americans are consuming coffee and about 30 million people are consuming instant coffee which increases the demand of Instant Beverages Premix Market.
However, the Asia-Pacific region is projected to be the fastest-growing during the forecast period 2020-2025. This is owing to increasing awareness among people about health and changing food habits.
Drivers – Instant Beverages Premix Market
Increasing Awareness About Health
Increasing awareness about health and high demand of convenient drink are some factors driving the growth of Instant Beverages Premix market. Moreover, high shelf life of the product and convenience packaging and storage is also set to increase the market growth.
Growing Consumption of Instant Service
Growing consumption rate of instant coffee and quick service restaurants are some factors driving the growth of the market. Moreover Fast-paced life and busy lifestyle further contributing to the growth of Instant Beverage Premix market.
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Challenges – Instant Beverage Premix Market
Presence of low quality products and long downtime taken for approval of ingredients are challenging the growth of the market. Moreover, increasing health risk and high cost of R&D activities are further restraining its market growth during the forecast period 2020-2025.
Instant Beverages Premix Industry Outlook
Product launches, Merger & Acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Instant Beverages Premix Market. Instant Beverages Premix top 10 companies are The Republic of Tea, Keurig Green Mountain Inc., Ito En, Inc., PepsiCo Inc., Ajinomoto General Foods Inc., Suntory Beverage & Food Limited, and Monster Beverage Co.
On 5 March 2019, The Republic of Tea launches new product, instant beverages which provide various flavors and high quality ingredients such as apple cider vinegar, watermelon and Himalayan pink sea salt.
On 4 June 2019, Keurig Dr Pepper launches new product, A&W Root Beer which provide attention of users of all ages.
In 2019, North America dominates the Instant Beverages Premix Market owing to increasing consumption of ready to eat foods including beverages and growing intake of caffeinated beverages.
Increasing awareness about health and growing consumption of instant service is driving the market growth of Instant Beverages Premix.
Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the market will be provided in the Instant Beverages Premix Market report.
Presence of low quality products and long downtime taken for approval of ingredients are challenging the growth of the market.
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