With
low entry barriers and a manageable initial upfront capital required,
a dime a dozen new players are seen foraying into the global instant
beverage premix market. In order to outgun competitors, players are
launching new products touting various USPs such as a variety of
flavors every now and then. This makes the landscape not just
extremely competitive, but dynamic too.
To
grow in such a cut-throat environment, keen players are banking upon
multi-pronged strategies. For instance, they are resorting to
competitive pricing to up sales. They are also offering deals or
bundling other goodies with products to capture attention of
consumers who are literally spoilt for a choice in the instant
beverage premix market. The bigger market players are also
consolidating their manufacturing and distribution channels through
strategic acquisitions. In this manner they are creating stronger,
larger entities to take on the competition in the market.
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Some
of the marquee names in the market for instant beverage premix are
Dunkin Brands Group Inc., Suntory Beverage & Food Limited.,
Starbucks Corporation, Monster Beverage Corporation, The Coca-Cola
Company, PepsiCo, Inc., and Ajinomoto General Foods Inc.
The
market for instant beverage premix is projected to clock a value of
US$85.80 bn by 2021-end by registering a steady CAGR of 5.70% CAGR
from 2015 to 2021.
Instant
tea, instant health drinks, instant coffee, instant milk, soup, and
others are some of the main products in the global instant
beverage premix market. Of them, the segment of instant
coffee accounts for a majority of share in the revenue. The health
benefits and instant kick received from caffeine are the primary
factors stoking the segment’s demand.
Geographically,
the main segments of the global market for instant beverage premix
are Asia Pacific, Europe, North America, and the Rest of the World.
Asia Pacific, among them, holds maximum share in the market and will
likely become worth US$27.7 bn by the end of the forecast period. The
soaring incomes of people in the region on account of the improving
economies of most nations and changing food habits due to effects of
globalization are mainly promoting demand in Asia Pacific market for
instant beverage premix.
Pressing
Schedules Coupled with Rising Incomes Catalyzes Demand in Market
With
more and more people entering the workforce every year and the
resultant busy schedules they have to cope with, the demand for
instant beverage premix has increased by leaps and bounds. With
little time on hand to whip up a fancy home-cooked meals, they are
opting for instant beverage premixes like never before for it saves
them valuable time. Their rising disposable incomes have played a key
role in upping sales in the market too.
Players
Add Various USPs to Promote Products
Moreover,
with key players continuously experimenting with various flavors and
added-nutritional elements in the products, instant beverage premix
is seeing surging uptake. “Instant caffeinated concoctions are
primarily boosting the demand, particularly in developed countries of
the U.S. and parts of Europe,” adds the lead analyst of the TMR
report.
Other
factors proving beneficial for the market for instant beverage premix
are aggressive marketing strategies of companies, emergence of
various retail websites, and efforts by companies to consolidate
retail chains in emerging markets.
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