Instant Beverage Premix Market Growth & Trends
The global instant beverage premix market size is expected to reach USD 120.92 billion by 2028, registering a CAGR of 7.2% over the forecast period, according to a new report by Grand View Research, Inc. Increasing demand for ready-mixed drinks due to the rising disposable income and hectic lifestyle of the people in countries such as India, China, and South Africa drives the market for instant beverage premix. The adoption of instant beverage premix increases due to the growing demand for ready-to-make drinks from the corporate cafeteria and at Quick Service Restaurants (QSR), which is expected to drive the market growth.
Coffee premix occupied a dominant market share of 41.2% in 2020 and is projected to expand at a significant CAGR over the forecast period. The rising popularity of coffee premix in countries in countries such as India, China, and Germany for ready-to-drink coffee, especially among millennials, is projected to further fuel the demand for the Instant coffee premix in the next few years.
Asia Pacific held a revenue share of 31.3% in 2020. Increasing young population coupled with increasing disposable income in countries such as China and India is projected to drive the demand for instant beverages, thus driving the market in near future. Furthermore, post COVID-19 pandemic, the region is anticipated to witness rising employment, inflating disposable incomes, and enhancing living standards. These factors will result in high consumption of most products, creating an enormous opportunity for instant beverage premix manufacturers in the region. Hence, the market is expected to experience rapid growth in the Asia Pacific over the forecast period.
Leading manufacturers are investing in R&D activities to enhance their product portfolio and geographical reach. Vendors adopt various organic and inorganic strategies such as joint ventures, new product offerings, mergers and acquisitions, and collaborations to enhance their foothold in the industry.
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Instant Beverage Premix Market Report Highlights:
• Asia Pacific contributed over 31.3% in the global revenue in 2020. China accounted for the largest market share of 27.5% in 2020 followed by India and Japan. Growing demand for ready-to-drink (RTD) packaged beverages from millennials has contributed to the regional market growth
• The instant tea segment contributed to the second-highest share in the global market revenue in 2020 and is expected to register the highest CAGR over the forecast period. Increasing, for slimming tea and herbal tea is expected to fuel the product demand
• Europe is projected to foresee a CAGR of 7.1% from 2021 to 2028. Germany accounted for the largest market share of 24.3% in the regional market followed by the U.K.
• The online distribution channel segment is projected to register the highest CAGR of 8.1% over the forecast period. The speed of improved digitalization across all aspects of e-commerce has impacted the penetration of instant beverage premix in developing and developed countries
Instant Beverage Premix Market Segmentation
Million Insights has segmented the global instant beverage premix market based on product, distribution channel, and region:
Instant Beverage Premix Product Outlook (Revenue, USD Million, 2017 - 2028)
Instant Beverage Premix Distribution Channel Outlook (Revenue, USD Million, 2017 - 2028)
• Convenience Stores
Instant Beverage Premix Regional Outlook (Revenue, USD Million, 2017 - 2028)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
• South Africa
List of Key Players of Instant Beverage Premix Market
• 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
• Nestlé S.A.