Along with the increasing awareness regarding the health benefits of instant beverage premixes, the ease of usage offered by them is also fueling the demand for these premixes significantly across the world. The growing number of working people, who do not have time to cook, are increasingly relying on readymade preparations to feed themselves. This factor has emerged as the key driving force behind the rising demand for instant beverage premixes. Analysts expect this trend to remain steady over the coming years.
In 2014, the global opportunity in the instant beverage premixes market stood approximately at US$60 bn. increasing at a CAGR of 5.70% during the period from 2015 to 2021, it is expected to touch US$85.8 bn by the end of 2021.
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Asia Pacific to Experience Slight Decline in Market Share
The global market for instant beverage premix spreads across Europe, North America, Asia Pacific and the Rest of the World. In terms of revenue, Asia Pacific emerged as the key contributor in 2014 with a share of 34.4% in the overall market. The growing demand for these premixes in countries such as China and India has been boosting their sales in this region since the last few years.
By 2021, the Asia Pacific instant beverage premix market is likely to grow to touch US$27.7 bn, retaining the region’s leadership. The growing influence of developed countries and the rising disposable income of people in Asia Pacific is anticipated to drive up sales of these premixes in the region. However, a slight decline is expected in the market share of Asia Pacific in the coming years.
Europe emerged second in the overall market in 2014 with a revenue of US$16.9 bn. The development of distribution channels and the increasing interest of consumers in instant beverage premix is influencing this regional market positively.
Instant Coffee to Continue to Witness Most Prominent Demand
Among all premixes, instant coffee is experiencing the strongest demand across the world. Since coffee has been the most preferred beverage across the world for quite some time, its instant counterpart has capitalized significantly over its widespread popularity. In 2014, the opportunity in instant coffee premix was worth US$30.4 mn. Analysts project this segment to remain the most popular amid all segments throughout the forecast period.
Instant tea has also gained considerable attention from beverage consumers around the world. The extensive popularity of tea in several Asian countries, such as China and Japan, has been propelling the sale of instant tea premixes substantially in the recent times.
Ito En Ltd., Keurig Green Mountain Inc., The Republic of Tea Inc., Dunkin’ Brands Group Inc., Suntory Beverage & Food Ltd., Starbucks Corp., The Coca-Cola Co., PepsiCo Inc., Monster Beverage Co., and Ajinomoto General Foods Inc. are the key participants in the global market for instant beverage premix.