Beverage Premix Global Market Report 2024 – A Comprehensive Analysis Of Growth Trends And Opportunities As Per The Business Research Company’s Beverage Premix Global Market Report 2024
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LONDON, Jan. 10, 2024 (GLOBE NEWSWIRE) — As per The Business Research Company’s Beverage Premix Global Market Report 2024, the global beverage premix market has exhibited robust growth in recent years, reaching a substantial value of $61.77 billion in 2023. This surge can be attributed to changing consumer preferences, an increase in urban population, rising disposable income, busy lifestyles, and a growing emphasis on health and wellness.
Projected Growth in 2024 and Forecast Period
Anticipating a continuous upward trajectory, the beverage premix market is forecasted to grow to $65.84 billion in 2024, representing a Compound Annual Growth Rate (CAGR) of 6.6%. Looking ahead to the forecast period (2023-2028), the market is expected to expand further, reaching $82.54 billion by 2028 at a CAGR of 5.8%. Factors driving this beverage premix market growth include the rise of e-commerce, global travel and tourism, government support for the food and beverage industry, increased demand for convenience, and rising disposable incomes.
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Key Trends in the Forecast Period
Major trends during the forecast period include increased product innovation, integration of functional ingredients, digital engagement, a focus on plant-based and alternative ingredients, the rise of low-sugar and healthier options, and collaborations with influencers and celebrities.
Major Players and Innovation in the Market
Key industry players such as Nestle S.A., PepsiCo Inc., Unilever PLC, The Coca-Cola Co., and others are introducing innovative products to maintain their market positions. Notably, the introduction of functional ingredients to enhance health and wellness has become a prevalent strategy. For example, in March 2023, Coca-Cola launched the Jack Daniel’s & Coca Cola RTD, a premixed, canned cocktail, combining the distinct flavors of Jack Daniel’s Tennessee Whiskey and Coca Cola in a convenient, portable format.
Regional Analysis
In 2023, North America emerged as the largest region in the beverage premix market, while Asia-Pacific is expected to be the fastest-growing region in the beverage premix market during the forecast period.
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Market Segmentation
The beverage premix market, as detailed in this report, is segmented based on type, form, and distribution channel:
- By Type: Tea Premix, Coffee Premix, Soup Premix, Healthy Drinks Premix, Milk-Based Premix, Alcoholic Beverages, Other Types.
- By Form: Paste, Powder, Granules, Liquid.
- By Distribution Channel: Hypermarket and Supermarket, Convenience Stores, Online Channels, Specialty Stores, Other Distribution Channels.
As the beverage premix market continues its upward trajectory, businesses can leverage the insights provided in this comprehensive beverage premix market report to make informed decisions and capitalize on emerging opportunities. The inclusion of major trends, player strategies, and regional analyses equips industry players with the knowledge necessary to navigate the evolving landscape and drive growth in their respective markets.
Beverage Premix Global Market Report 2024 by The Business Research Company provides insights on the beverage premix market size, beverage premix market segments, beverage premix market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 7,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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