Published on : Apr 12, 2016
The growing awareness among people regarding health is driving the global instant beverage premix market. According to a report published by Transparency Market Research, the global instant beverage premix market, which was worth US$59.38 bn in 2014, is estimated to reach a value of US$85.80 bn by the end of 2021, expanding at a CAGR of 5.70% between 2015 and 2021.
Product and Design Innovation: The Driving Factors of Instant Beverage Premix Market
In an extremely competitive and fast moving environment, brand managers are under constant pressure to develop new products with few changes. Changes in the form of packaging design or a new product development altogether have become important for the success of the brand in the long term. It has been observed that consumers prefer simple and efficient packaging and products that are cost effective and offers ease of use. The packaging design thus becomes a driver for the sales of instant beverage premix. In a market where many products of the same category are available, the packaging is what differentiates one brand from another. The impact of packaging design is thus high.
Instant Coffee to hold the Largest Market Share from 2015 to 2021
The instant beverage premix market is categorized on the basis of product type into instant milk, instant coffee, instant tea, instant health drink, instant soup, and others. Out of these beverages, the instant coffee held the largest market share in 2014, closely followed by instant tea. This dominance is expected to continue until 2021, as coffee freshens up people, making them energetic. In terms of volume, instant tea held the largest market share in 2014 and soup was second. This trend is also expected to continue from 2015 to 2021.
Asia Pacific is expected to be Largest Market for Instant Beverage Premix Market
At present, Asia Pacific holds the largest market share and is expected to be the largest market in the coming years. Europe is the second largest market for instant beverage premix. The factors such as easy availability of the products on Wal-Mart and eBay are boosting the market in the region.