Global Instant Beverage Premix Market Report, published by Fior Markets, forecast that the global market is expected to reach $111.3 Billion by 2024 from $70.2 Billion in 2016, growing at a CAGR of 5.9% from 2016 to 2024. By geography, RoW and North America are expected to grow at a CAGR of 7.2% and 6.7%, respectively, during the forecast period.
“Instant Beverage Premix Market (By Product Type: Instant Coffee, Instant Tea, Instant Milk, Instant Health Drinks, Soups, and Others; By Geography: North America, Europe, Asia-Pacific, and RoW) Global Scenario, Market Size, Outlook, Trend and Forecast, 2015-2024″
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Some of the aspects boosting the growth of the global instant beverages premix market comprises of rising disposable income, busy schedules of corporate customers, increasing healthcare awareness among end-users, growing demand for instant coffee premix, and others. Though, stringent regulations for approval of ingredients and counterfeit products might limit the growth. Furthermore, innovative marketing strategies and customized flavors would provide several market scopes in the forecast period.
The global Instant beverage premix market is segmented into product type and geography. Product type is segmented into instant coffee, instant tea, instant milk, instant health drinks, soups, and others. Among which, instant coffee accounted for the largest market share and is anticipated to dominate with the fastest CAGR during the forecast period 2016-2024. This is due to coffee being the most preferred beverages among end-users globally.
By geography, the market has been bifurcated into North America, Europe, Asia-Pacific, and Rest of the World (RoW). Asia-Pacific and Europe dominated the market with majority of market share with 32.9% and 27.7%, respectively. In terms of growth, RoW is expected to dominate with fastest CAGR during the forecast period, owing to, growing popularity among consumers and improving distribution channels.
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Major players in the market include PepsiCo Inc., Starbucks Corp., Suntory Beverages & Food. Ltd., Ajinomoto General Foods Inc., Keurig Green Mountain, Inc., Monster Beverage Company, The Republic of Tea, Inc, Ito En, Ltd., Dunkin’ Brands Group, Inc., and The Coca-Cola Company, among others.