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Instant Beverage Premix Market Size & Growth Report, 2021-2028

Instant Beverage Premix Market Size, Share & Trends Analysis Report By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Online), By Product (Coffee, Milk, Tea), By Region, And Segment Forecasts, 2021 - 2028

Report ID: MN17620219  |  Published: April 2021  |  No of Pages: 85
Format: Electronic (PDF)  |  Industry: Food & Beverage  |  Publisher: Grand View Research

Report Overview

The global instant beverage premix market size was valued at USD 69.45 billion in 2020. It is expected to expand at a compound annual growth rate (CAGR) of 7.2% from 2021 to 2028. The rise in the working population and soaring demand for convenient drinks are expected to drive the growth of the market. Moreover, convenience packaging and high shelf life are some of the other factors that are expected to propel growth. Factors such as the increasing disposable incomes, hectic lifestyle, and tight work schedule are expected to further drive the demand for instant beverages premix over the forecast period.

U.S. instant beverage premix market size, by product, 2017 - 2028 (USD Billion)

The market is anticipated to witness substantial growth in the forthcoming years due to the increasing demand for ready-to-drink beverages from corporate spaces and airports among others. Also, the increased availability of varieties of nutrition drink premix and the growing health awareness among the consumers in the U.S. are the factors encouraging people to have drinks at their home instead of at restaurants and cafés. This factor is anticipated to fuel the product demand in near future.

The beverage market in the Asia Pacific region is projected to witness considerable growth in the upcoming years, owing to rising popularity among millennials in developing economies, including China and India. To sustain in the competitive market, the manufacturers are focusing on R&D investments for maintaining taste and increasing the product's shelf life. All these factors are expected to expand the scope of growth for the instant beverage premix market over the forecast period.

Product Insights

The instant coffee premix segment contributed to the highest market share of more than 40% in 2020. Instant coffee premixes have a high adoption rate in corporate cafeterias and at Quick Service Restaurants (QSR) as they contain caffeine and have a tempting taste and aromatizing aroma. An increase in the adoption of instant coffee premixes in the corporate spaces made the instant coffee premix segment one of the lucrative targets for investment.

The instant tea premix segment contributed to the second-highest share in the global revenue in 2020 and is expected to register the highest CAGR over the forecast period. Increasing consumer preference for green tea premix, due to various benefits of green tea such as weight loss and control of glucose is expected to drive the product demand in the forthcoming years.

Distribution Channel Insights

The supermarkets/ hypermarkets segment contributed to the highest market share of more than 35% in 2020. The segment is projected to register a substantial CAGR over the forecast period. As disposable income per capita has increased, many consumers have switched to premium, organic, and natural brands to increase the beverage premix retail revenue from super and hypermarkets. The majority of consumers prefer to pick things by hand. Consumers feel more comfortable choosing their products, especially grocery products. Other factors that determine this sales channel are price reductions, shopping experience, immediate product purchase, and the availability of a wide range of products in a single store. Also, improved services such as Click and Collect have fueled instant beverage premix sales through this channel.

Global instant beverage premix market share, by distribution channel, 2020 (%)

The online distribution channel segment is projected to expand at the highest CAGR of 8.1% during the forecast period. The ongoing COVID-19 pandemic is one of the significant factors driving the retail of products through the online distribution channel. The steady increase in acceptance of smartphones and broadband connections, especially in developing countries, has boosted online retail sales. The flexible retail option is the key to the growth of the online sales channel. The increasing enthusiasm and comfort of millennials and generation Z consumers for digital shopping have fueled the growth of the segment.

Regional Insights

North America accounted for a significant market share of 29.0% in 2020, with the U.S. occupying the position of the dominant revenue contributor in the region. The extensive presence of corporate offices and the growing demand for instant beverages premix from corporate cafeterias are the major drivers of product demand in North American countries.

The Asia Pacific market is projected to experience the fastest CAGR of 8.0% over the forecast period, with China being the major revenue contributor to the regional market growth. Growing urbanization in countries such as China and India is likely to be the key catalyst for the increase in the demand for instant beverage premix market over the forecast period. Moreover, significant changes in lifestyle coupled with the growing disposable incomes in developing nations such as India and others have altered the consumers’ consumption patterns, thus driving the demand for instant beverage premixes.

Key Companies & Market Share Insights

Industry participants are practicing several inorganic and organic growth strategic initiatives to expand their product/service portfolio and to enhance their foothold in the market. In December 2018, Nestlé introduced instant tea premix under the brand name, EVERYDAY Chai Life, aimed at consumers in India. The tea premix is available in flavors such as Saffron & Cardamom, Desi Masala, and Ginger & Lemongrass.

Increasing competition at the regional and global levels is leading the market towards consolidation. Companies are investing in smart technologies to increase their productivity. Also, global players are establishing manufacturing and distribution networks in developing countries to gain a market presence. Some of the prominent players operating in the global instant beverage premix market are:

    • Ito En Ltd
    • The Coca-Cola Co.
    • The Republic of Tea Inc.
    • Monster Beverage Co.
    • Suntory Beverage & Food Ltd.
    • PepsiCo Inc
    • Ajinomoto General Foods Inc.
    • Dunkin’ Brands Group Inc.
    • Tata Consumer Products Limited
    • Unilever
    • Nestlé S.A.

Instant Beverage Premix Market Report Scope

Report Attribute

Details

The market size value in 2021

USD 74.32 billion

The revenue forecast in 2028

USD 120.92 billion

Growth Rate

CAGR of 7.2% from 2021 to 2028

The base year for estimation

2020

Historical data

2017 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million/billion and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, distribution channel, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; U.K.; Germany; China; Japan; India; Brazil; South Africa

Key companies profiled

Ito En Ltd; The Republic of Tea Inc.; Suntory Beverage & Food Ltd.; The Coca-Cola Co.; Monster Beverage Co.; Dunkin’ Brands Group Inc.; PepsiCo Inc.; Ajinomoto General Foods Inc.; Tata Consumer Products Limited; Unilever; Nestlé S.A.

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

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Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2028. For this study, Grand View Research has segmented the global instant beverage premix market report based on product, distribution channel, and region:

• Product Outlook (Revenue, USD Million, 2017 - 2028)
    • Coffee
    • Milk
    • Tea
    • Others

• Distribution Channel Outlook (Revenue, USD Million, 2017 - 2028)
    • Supermarkets/Hypermarkets
    • Convenience Stores
    • Online
    • Other

• Regional Outlook (Revenue, USD Million, 2017 - 2028)
    • North America
        • U.S.
    • Europe
        • U.K.
        • Germany
    • The Asia Pacific
        • China
        • Japan
        • India
    • Central & South America
        • Brazil
    • Middle East & Africa
        • South Africa

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